/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S.
NEWSWIRES/
TORONTO, April 27, 2016 /CNW/ - True North Commercial
Real Estate Investment Trust (TSX: TNT.UN) (the "REIT")
announced today that it has filed and obtained a receipt for its
final short form base shelf prospectus (the
"Prospectus"). The Prospectus was filed with the
securities regulatory authorities in each of the provinces and
territories of Canada. The Prospectus is valid for a 25 month
period, during which time the REIT may issue trust units, unsecured
debt securities, subscription receipts, warrants, or any
combination of such securities as units (collectively, the
"Securities"), in amounts, at prices, and on terms based on
market conditions at the time of sale and set forth in an
accompanying prospectus supplement, for an aggregate offering
amount of up to $200 million.
This news release does not constitute an offer to sell
Securities, nor is it a solicitation of an offer to buy Securities,
in any jurisdiction. This news release also does not
constitute an offer of Securities for sale in the United States and the Securities referred
to in this news release may not be offered or sold in the United States absent registration or an
exemption from registration.
Forward-looking Information
Certain statements contained in this press release constitute
forward-looking information within the meaning of Canadian
securities laws. Forward-looking statements are provided for the
purposes of assisting the reader in understanding the REIT's
financial performance, financial position and cash flows as at and
for the periods ended on certain dates and to present information
about management's current expectations and plans relating to the
future and readers are cautioned such statements may not be
appropriate for other purposes. Forward-looking information may
relate to the REIT's future outlook and anticipated events,
including the number and type of Securities that may be sold under
the Prospectus, future results, performance, achievements, events,
prospects or opportunities for the REIT or the real estate industry
and may include statements regarding the financial position,
business strategy, budgets, projected costs, capital expenditures,
financial results, taxes, plans and objectives of or involving the
REIT. In some cases, forward-looking information can be identified
by such terms as "may", "might", "will", "could", "should",
"would", "occur", "expect", "plan", "anticipate", "believe",
"intend", "seek", "aim", "estimate", "target", "goal", "project",
"predict", "forecast", "potential", "continue", "likely", or the
negative thereof or other similar expressions concerning matters
that are not historical facts.
Forward-looking statements involve known and unknown risks and
uncertainties, which may be general or specific, and which give
rise to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate,
assumptions may not be correct and objectives, strategic goals and
priorities may not be achieved. A variety of factors, many of which
are beyond the REIT's control, affect the operations, performance
and results of the REIT and its business, and could cause actual
results to differ materially from current expectations of estimated
or anticipated events or results. These factors include, but are
not limited to, risks related to the offering of Securities
pursuant to the Prospectus, the REIT's use of its normal course
issuer bid, and the risks discussed in the REIT's materials filed
with Canadian securities regulatory authorities from time to time
on www.sedar.com. The reader is cautioned to consider these and
other factors, uncertainties and potential events carefully and not
to put undue reliance on forward-looking statements as there can be
no assurance actual results will be consistent with such
forward-looking statements.
Information contained in forward-looking statements is based
upon certain material assumptions that were applied in drawing a
conclusion or making a forecast or projection, including
management's perceptions of historical trends, current conditions
and expected future developments, as well as other considerations
that are believed to be appropriate in the circumstances, including
the following: its trust units may from time to time trade below
their intrinsic value; the Canadian economy will remain stable over
the next 12 months; inflation will remain relatively low; interest
rates will remain stable; conditions within the real estate market,
including competition for acquisitions, will be consistent with the
current climate; the Canadian capital markets will provide the REIT
with access to equity and/or debt at reasonable rates when
required; Starlight Investments Ltd. will continue its involvement
as asset manager of the REIT in accordance with its current asset
management agreement; and the risks referenced above, collectively,
will not have a material impact on the REIT. While management
considers these assumptions to be reasonable based on currently
available information, they may prove to be incorrect.
The forward-looking statements in this press release is dated,
and relates only to events or information, as of the date of this
press release. Except as specifically 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.
About the REIT
The REIT is an unincorporated, open-ended real estate investment
trust established under the laws of the Province of Ontario. The REIT currently owns and operates
a portfolio of 25 commercial properties consisting of approximately
1.4 million square feet in secondary markets across Canada.
The REIT is focused on growing its portfolio principally through
acquisitions across Canada and
such other jurisdictions where opportunities exist.
Additional information concerning the REIT is available at
www.sedar.com or the REIT's website at www.truenorthreit.com.
SOURCE True North Commercial Real Estate Investment Trust