Marwest Apartment REIT Announces Filing of Preliminary Prospectus and Implementation of Cash Distributions

About this update from Marwest Apartment Reit

[{"type":"text","content":"\n \n \n \n Marwest Apartment REIT Announces Filing of Preliminary Prospectus and Implementation of Cash Distributions\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 July 7, 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 filed, and obtained a receipt for, a preliminary short-form prospectus for the proposed public offering (the \"\n \n Offering\n \n \") of units of the REIT (the \"\n \n Offered Units\n \n \") with the securities regulatory authorities in each of the provinces and territories in\n \n Canada\n \n , other than the province of\n \n Quebec\n \n , for minimum gross proceeds of approximately\n \n $5.0 million\n \n and maximum gross proceeds of approximately\n \n $9.0 million\n \n .\n \n \n \n \n \n \n \n \n \n Each Offered Unit is comprised of: (i) one (1) 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 (1) additional Trust Unit at any time up to and including the date that is twelve (12) months from the closing date of the Offering.\n \n \n The Offering is being 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., Raymond James Ltd., Richardson Wealth Limited and Wellington-Altus Private Wealth Inc.\n \n \n The REIT has applied to have the Trust Units issued pursuant to the Offering on the Toronto Stock Venture Exchange (the \"\n \n TSXV\n \n \"). Listing is subject to the approval of the TSXV.\n \n \n Additionally, the REIT intends to adopt a distribution policy pursuant to which it will make monthly cash distributions to Unitholders, initially in the amount eq...

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