/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO, May 10, 2013 /CNW/ - Inovalis Real Estate Investment Trust (the
"REIT") (TSX:INO.UN) announced today the closing of the issuance of an
additional 870,000 trust units of the REIT at a price of $10.00 per
unit for gross proceeds of $8,700,000. The issuance was pursuant to the
partial exercise by the underwriters of their over-allotment option
with respect to the REIT's recently completed initial public offering
on April 10, 2013. The exercise of the over-allotment option increases
the total gross proceeds of the initial public offering to $113.7
million.
The Offering was underwritten by a syndicate of the underwriters led by
Desjardins Securities Inc. and including GMP Securities L.P., Macquarie
Capital Markets Canada Inc., Laurentian Bank Securities Inc., UBS
Securities Canada Inc., Manulife Securities Incorporated, Burgeonvest
Bick Securities Limited, Industrial Alliance Securities Inc. and Mackie
Research Capital Corporation.
The net proceeds to the REIT from the exercise of the over-allotment
option will be used by the REIT for general trust purposes.
The trust units trade on the Toronto Stock Exchange under the symbol
"INO.UN".
The units have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended, and may not be offered, sold
or delivered, directly or indirectly, in the United States or to, or
for the account or benefit of, "U.S. persons" (as defined in Regulation
S under the United States Securities Act of 1933, as amended). This
press release does not constitute an offer to sell or a solicitation of
an offer to buy any of the units in the United States or to, or for the
account or benefit of, U.S. Persons.
About Inovalis Real Estate Investment Trust
Inovalis Real Estate Investment Trust is an unincorporated, open-ended
real estate investment trust established pursuant to a declaration of
trust under the laws of the Province of Ontario. The REIT has been
created for the purpose of acquiring and owning office properties
primarily located in France and Germany but also opportunistically in
other European countries where assets meet the REIT's investment
criteria. The REIT currently owns an interest in four office properties
in France and Germany, comprising 528,267 square feet (49,170 square
metres) of gross leasable area.
Forward-Looking Statements
This press release may contain forward-looking information within the
meaning of applicable securities legislation, which reflects the REIT's
current expectations regarding future events. Forward-looking
information is based on a number of assumptions and is subject to a
number of risks and uncertainties, many of which are beyond the REIT's
control and which could cause actual results and events to differ
materially from those that are disclosed in or implied by such
forward-looking information. Such risks and uncertainties include, but
are not limited to, the factors discussed under "Risk Factors" in the
final prospectus of the REIT dated March 28, 2013. The REIT does not
undertake any obligation to update such forward-looking information,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable law.
SOURCE: Inovalis Real Estate Investment Trust
