Business
PROREIT Announces Graduation to TSX and 3-to-1 Unit Consolidation
PROREIT Announces Graduation to TSX and 3-to-1 Unit Consolidation Canada NewsWire ...
About this update from Pro Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nPROREIT Announces Graduation to TSX and 3-to-1 Unit Consolidation\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\n\n\n\n\n\n\nCanada NewsWire\nMONTRÉAL, May 3, 2019\n\n\n\nMONTRÉAL, May 3, 2019 /CNW/ - PRO Real Estate Investment Trust (\"PROREIT\" or the \"REIT\") (TSXV: PRV.UN) is pleased to announce that it has received final approval from the Toronto Stock Exchange (the \"TSX\") to list its trust units (the \"Units\") on the TSX. The Units will be listed and commence trading on the TSX at the opening of markets on May 7, 2019, at which time PROREIT will also open the market to celebrate its graduation.\n\n \n \n\n \n\"As PROREIT continues to build recognition in the capital markets and gains access to a broader and more diverse investor audience, we are proud to celebrate our successful migration to the TSX. Graduating to a major exchange is a testament to our solid growth and proven ability to execute,\" stated Mr. James W. Beckerleg, President and Chief Executive Officer.  \n\"I would like to take this opportunity to acknowledge and thank our employees, investors and partners who have supported PROREIT along the way. Together, we have reached significant milestones since our founding six year ago. Now, more than ever, we are focused and dedicated to achieving our objective of building a mid-cap, diversified REIT in Canada,\" concluded Mr. Beckerleg.\nThe Units will continue to trade under the stock symbol \"PRV.UN\", and will be de-listed from the TSX Venture Exchange upon listing and commencement of trading on the TSX.\nConsolidation\nContemporaneously with the TSX listing, the Units and special voting units of the REIT (collectively, the \"Voting Units\") will be consolidated on the basis of one (1) post-consolidation Voting Unit for three (3) pre-consolidation Voting Units (the \"Consolidation\"). The number of outstanding class B limited partnership units of PRO REIT Limited Partnership will be proportionally adjusted with the implementation of the Consolidation.\nLetters of transmittal providing for the exchange of certificates ...