/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/
TORONTO, Dec. 16, 2013 /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.
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 is
focused on acquiring and operating commercial rental properties 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.
Forward-looking Information
Certain statements contained in this press release constitute
forward-looking information within the meaning of Canadian securities
laws. Forward-looking information is provided for the purposes of
presenting information about management's current expectations and
plans relating to the future and readers are cautioned that such
information 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, and may include statements regarding the
financial position, business strategy, budgets, litigation, projected
costs, capital expenditures, financial results, taxes and plans and
objectives of or involving the REIT. Particularly, statements regarding
future results, performance, achievements, prospects or opportunities
for the REIT or the real estate industry are forward-looking
information. In some cases, forward-looking information can be
identified by terms such as "may", "might", "will", "could", "should",
"would", "occur", "expect", "plan", "anticipate", "believe", "intend",
"seek", "aim", "estimate", "target", "project", "predict", "forecast",
"potential", "continue", "likely", "schedule", or the negative thereof
or other similar expressions concerning matters that are not historical
facts.
Forward-looking information necessarily involves 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, that
assumptions may not be correct and that objectives, strategic goals and
priorities will 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, the
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 information as there can be no assurance
that actual results will be consistent with such forward-looking
information.
Forward-looking information 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: that its trust units will from
time to time trade below their intrinsic value; that the Canadian
economy will remain stable over the next 12 months; that inflation will
remain relatively low; that interest rates will remain stable; that
conditions within the real estate market, including competition for
acquisitions, will be consistent with the current climate; that the
Canadian capital markets will continue to provide the REIT with access
to equity and/or debt at reasonable rates when required; that Starlight
Investments Ltd. will continue its involvement as asset manager of the
REIT in accordance with its current asset management agreement; and the
risks identified or 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 information 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 law, the REIT undertakes no
obligation to update or revise publicly any forward-looking
information, 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.
SOURCE True North Commercial Real Estate Investment Trust
