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Marwest Apartment REIT Announces Closing of Equity Offering
Marwest Apartment REIT Announces Closing of Equity Offering Canada NewsWire ...
About this update from Marwest Apartment Reit
[{"type":"text","content":"\n \n \n \n Marwest Apartment REIT Announces Closing of Equity Offering\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\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n WINNIPEG, MB\n \n ,\n \n Aug. 10, 2021\n \n /CNW/ - Marwest Apartment Real Estate Investment Trust (\"\n \n Marwest Apartment REIT\"\n \n or the\n \n \"REIT\"\n \n ) (TSXV: MAR.UN) is pleased to announce today that it has closed its previously announced public offering (the \"\n \n Offering\n \n \") of units of the REIT (the \"\n \n Offered Units\n \n \"), raising gross proceeds of approximately\n \n $4.7 million\n \n . The REIT issued an aggregate of 4,271,891 Offered Units in connection with the Offering at a price of\n \n $1.10\n \n per Offered Unit. Each Offered Unit is comprised of: (i) one trust unit (a \"\n \n Trust Unit\n \n \") of the REIT; and (ii) one Trust Unit purchase warrant entitling the holder thereof to purchase one additional Trust Unit at any time up to and including the date that is 12 months from the closing date of the Offering at a price of\n \n $1.20\n \n .\n \n \n \n \n \n \n \n \n \n The REIT intends to use all or substantially all of the net proceeds of the Offering to fund the purchase price and associated costs of one or more property acquisitions in its current potential acquisition pipeline. As at the date hereof, the REIT does not have any definitive agreement with respect to future property acquisition(s), but has identified a number of properties owned by entities which are partially owned by the principals of the REIT's asset manager or affiliates thereof on which it intends to conduct due diligence, as more particularly described in the REIT's final short form prospectus dated\n \n August 3, 2021\n \n .\n \n \n The Offering was managed by a syndicate of agents led by Canaccord Genuity Corp. and including CIBC World Markets Inc., National Bank Financial Inc., Desjardins Securities Inc., iA Private Wealth Inc....