/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/
TORONTO, Nov. 15, 2012 /CNW/ -True North Apartment Real Estate Investment
Trust (TSXV: TN.UN) (the "REIT") today announced a cash distribution of
$0.0233 per trust unit ("Unit") for the period from November 1, 2012 and
ending November 30, 2012. The distribution will be payable on December 17,
2012 to unitholders of record as at November 30, 2012.
Unitholders can participate in the REIT's unitholder Distribution Reinvestment
Plan ("DRIP"). Eligible investors registered in the DRIP will have their
monthly cash distributions used to purchase additional Units, at a 3% discount
to the weighted average closing price of the Units, for the five trading days
immediately preceding the date of distribution declared by the REIT. No
assurances can be made that new Units will be made available under the DRIP on
a regular basis, or at all. The DRIP provides an efficient and cost-effective
way for the REIT to issue additional equity to existing unitholders.
About the REIT
The REIT is an unincorporated, open-ended real estate investment trust
established under the laws of the Province of Ontario. Additional information
concerning the REIT may be obtained from the management information circular
dated May 4, 2012 of Wand Capital Corporation and is available at
The REIT focuses on a long-term strategy to generate stable cash distributions
on a tax-efficient basis for unitholders. The REIT intends to actively look
for opportunities to expand its asset base and increase its distributable cash
flow through acquisitions of additional multi-suite residential rental
properties across Canada, the United States and other jurisdictions where
opportunities may arise.
Certain statements contained in this press release constitute forward-looking
information within the meaning of applicable securities laws. Forward-looking
information may relate to the REIT's future outlook and anticipated events or
results and may include statements regarding the financial position, business
strategy, budgets, litigation, projected costs, capital expenditures,
financial results, taxes, plans and objectives. Statements regarding future
results, performance, achievements, prospects or opportunities for the REIT or
the real estate industry are forward-looking statements. In some cases,
forward-looking information can be identified by such terms such as "may",
"might", "will", "could", "should", "would", "occur", "expect", "plan",
"anticipate", "believe", "intend", "estimate", "predict", "potential",
"continue", "likely", "schedule", or the negative thereof or other similar
expressions concerning matters that are not historical facts. Some of the
specific forward-looking statements in this press release include, but are not
limited to, statements with respect to the anticipated future growth of the
REIT in 2012 and 2013.
Although the forward-looking statements contained in this press release are
based upon assumptions that management of the REIT believes are reasonable
based on information currently available to management, there can be no
assurance that actual results will be consistent with these forward-looking
statements. Forward-looking statements necessarily involve known and unknown
risks and uncertainties, many of which are beyond the REIT's control, which
may cause actual results to differ materially from those expressed or implied
by such forward-looking statements.
The forward-looking statements made in this press release relate only to
events or information as of the date hereof. Except as required by applicable
Canadian law, the REIT undertakes no obligation to update or revise publicly
any forward-looking statements, whether as a result of new information, future
events or otherwise, after the date on which the statements are made or to
reflect the occurrence of unanticipated events.
The TSX Venture Exchange ("TSXV") has neither approved nor disapproved the
contents of this press release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined
in policies of the TSXV) accepts responsibility for the adequacy or accuracy
of this release.
Leslie Veiner President and Chief Executive Officer (416) 234-8444
Martin Liddell Chief Financial Officer (416) 234-8444
SOURCE: True North Apartment Real Estate Investment Trust
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-0- Nov/15/2012 21:05 GMT
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