NEW GLASGOW, NS, June 2, 2017 /CNW/ - Crombie Real Estate
Investment Trust ("Crombie") (TSX: CRR.UN) announced today that it has exercised its right to redeem its 5.00% Series D
Convertible Unsecured Subordinated Debentures maturing on September 30, 2019 (the "Debentures") in
accordance with the terms of the supplemental trust indenture dated July 3, 2012, governing the
Debentures. The redemption of the Debentures will be effective on July 4, 2017 (the
"Redemption Date"). Upon redemption, Crombie will pay to the holders of Debentures the redemption price (the "Redemption
Price") equal to the outstanding principal amount of the Debentures to be redeemed, together with all accrued and unpaid interest
thereon up to but excluding the Redemption Date, for a total of $1,013.01 per $1,000 principal amount of Debentures, less any taxes required to be deducted or withheld.
The aggregate principal amount of Debentures currently outstanding is $60,000,000. Crombie
intends to draw funds from its existing revolving line of credit to pay the Redemption Price of the redeemed Debentures. The
Debentures are listed for trading on the Toronto Stock Exchange under the trading symbol "CRR.DB.D" and may be converted in
accordance with their terms into Units of Crombie until June 30, 2017.
About Crombie
Crombie Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established under, and
governed by, the laws of the Province of Ontario. Crombie currently owns a portfolio of 281
income-producing properties across Canada, comprising approximately 19.1 million square feet
with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres,
freestanding stores and mixed use developments primarily in Canada's top urban and suburban
markets.
This news release may contain forward looking statements that reflect the current expectations of management of Crombie
about Crombie's future results, performance, achievements, prospects and opportunities. Wherever possible, words such as
"continue", "may", "will", "estimate", "anticipate", "believe", "expect", "intend" and similar expressions have been used to
identify these forward looking statements. These statements reflect current beliefs and are based on information currently
available to management of Crombie. Forward looking statements necessarily involve known and unknown risks and
uncertainties. A number of factors, including those discussed in the 2016 annual Management Discussion and Analysis under
"Risk Management", could cause actual results, performance, achievements, prospects or opportunities to differ materially from
the results discussed or implied in the forward-looking statements. These factors should be considered carefully and a reader
should not place undue reliance on the forward looking statements. There can be no assurance that the expectations of management
of Crombie will prove to be correct.
Additional information relating to Crombie can be found on Crombie's web site at www.crombiereit.com or on the SEDAR web site for Canadian regulatory filings at
www.sedar.com.
SOURCE Crombie REIT
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