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Fronsac Closes $18 Million Fully-Subscribed Public Offering of Units
Fronsac Closes $18 Million Fully-Subscribed Public Offering of Units Canada NewsWi...
About this update from Canadian Net Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nFronsac Closes $18 Million Fully-Subscribed Public Offering of Units\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Feb. 13, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n MONTREAL, Feb. 13, 2020 /CNW Telbec/ - (TSXV: FRO.UN) Fronsac Real Estate Investment Trust (the \"REIT\" or \"Fronsac\") is pleased to announce that it has closed its previously-announced public offering (the \"Offering\") of trust units of Fronsac (the \"Units\"). Under the Offering, an aggregate of 29 million Units were issued, representing the maximum number of Units qualified under Fronsac's short form prospectus, at a price of $0.62 per Unit for aggregate gross proceeds of approximately $18 million. The Offering was made through a syndicate of agents co-led by Paradigm Capital Inc. and Canaccord Genuity Corp., acting as joint bookrunners, and including Laurentian Bank Securities Inc., Echelon Wealth Partners Inc. and Desjardins Securities Inc.\nThe REIT intends to use the net proceeds of the Offering as described in the REIT's final short form prospectus dated February 7, 2020, including to partially fund the acquisition of three commercial properties in Québec and Ontario and repay a portion of the outstanding indebtedness under certain of the REIT's credit facilities.\nAbout Fronsac – Fronsac Real Estate Investment Trust is an open-ended trust that acquires and owns high quality triple net and management-free commercial real estate properties.\nForward-Looking Statements – This press release contains forward-looking statements and information as defined by applicable securities laws. Fronsac warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Such risks, uncertainties and other factors include the risk that Frons...