Vancouver, British Columbia--(Newsfile Corp. - August 13, 2013) - TitanStar Properties has listed its recent offering of $4.5 million convertible debentures on the TSX Venture Exchange (TSXV: TSP.DB). The offering was conducted by a syndicate led by Mackie Research Capital, and included Burgeonvest Bick Securities, MGI Securities and PI Financial.
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The debentures will bear interest at an annual rate of 8.5% payable on a quarterly basis, and will have a maturity date of September 30, 2018. Each debenture will be convertible into common shares of TitanStar Properties (TSXV: TSP) at the option of the holder at a conversion price of $0.08125 per share. The debentures will not be redeemable until September 30, 2016, except through purchases by the sinking fund.
TitanStar is a real estate company whose investment strategy focuses on building a portfolio of well-positioned, under-valued or underperforming, stabilized assets, focusing on the southwestern United States. TitanStar currently holds a 50% limited partnership interest in the Sahara Crossing Limited Partnership which owns an approximately 61,125 square foot retail building on Sahara Avenue in Las Vegas, as well as other properties in Las Vegas. Through other limited partnerships, the company has interests in Swanway Plaza in Tucson, Arizona, and Kohl's San Tan Plaza in Chandler, Arizona.
For more information on the company, its real estate portfolio, investment strategy, and proposed acquisitions, please refer to the Company's short form prospectus on Sedar.com.
The company's common shares are currently trading at $0.10 and with 31.8 million shares outstanding, the company is capitalized at $3.2 million.
For more information about the company, please visit the company's website at www.titanstar.ca or contact Rick Turner, President & CEO at 604-408-3808 or by email at rick@titanstar.ca.
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