FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST RE-ESTABLISHES AT-THE-MARKET EQUITY PROGRAM

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[{"type":"text","content":"\n \n \n \n FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST RE-ESTABLISHES AT-THE-MARKET EQUITY PROGRAM\n \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 Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 29, 2023\n \n \n /CNW/ - Flagship Communities Real Estate Investment Trust (TSX: MHC.U) (TSX: MHC.UN) (the \"REIT\") announced today that it has re-established a US$50 million at-the-market equity program (the \"ATM Program\").\n \n \n The ATM Program allows the REIT to issue from treasury, at its discretion, up to\n \n US$50 million\n \n of trust units of the REIT (the \"REIT Units\") to the public from time to time. Distributions of REIT Units pursuant to the ATM Program, if any, will be made in accordance with the terms of an equity distribution agreement dated\n \n June 28, 2023\n \n (the \"Equity Distribution Agreement\") among the REIT, Canaccord Genuity Corp. and BMO Capital Markets. REIT Units sold under the ATM Program will be sold directly on the Toronto Stock Exchange, or such other recognized marketplaces to the extent permitted, at prevailing market prices at the time of sale, all in accordance with the terms of the Equity Distribution Agreement. The ATM Program will be effective until\n \n July 8, 2025\n \n , unless terminated earlier in accordance with the terms of the Equity Distribution Agreement. The REIT intends to use the net proceeds from REIT Units sold under the ATM Program, if any, to fund acquisitions, for repayment of indebtedness and for general working capital purposes.\n \n \n The ATM Program is designed to provide the REIT with additional financing flexibility should it be required in the future. The volume and timing of distributions under the ATM Program, if any, will be determined at the REIT's sole discretion. Since the REIT Units distributed pursuant to the ATM Program will be distributed to the public at prevailing market prices at the time of sale, p...

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