Business
PROREIT Announces Implementation of Distribution Reinvestment Plan
/NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION THROUGH UNITED STATES NEWS...
About this update from Pro Real Estate Investment Trust
[{"type":"text","content":"\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION THROUGH\n UNITED STATES NEWS OR WIRE SERVICES./\n\n\nMONTRÉAL, Dec. 18, 2013 /CNW/ - PRO Real Estate Investment Trust (\"PROREIT\" or the \"REIT\") (TSXV: PRV.UN) announced today the implementation of a distribution\n reinvestment plan (\"DRIP\") effective as of December 18, 2013, which allows holders of trust\n units of the REIT (\"Units\") and holders of Class B limited partnership units of PRO REIT Limited\n Partnership (\"Class B LP Units\"), a subsidiary of the REIT, the opportunity to acquire additional\n Units at a 3% discount to the weighted average closing price of the\n Units for the last five trading days preceding the applicable\n distribution payment date on which trades of the Units were recorded.\n The TSX Venture Exchange has initially approved the issuance of a total\n of 474,554 Units pursuant to the DRIP, which represents 5% of the total\n issued and outstanding Units and Class B LP Units, the maximum\n permissible by the TSX Venture Exchange. The REIT will determine for\n each distribution payment date the amount of new equity, if any, that\n will be made available under the DRIP on that date. No assurances can\n be made that new Units will be made available under the DRIP on a\n regular basis, or at all. The DRIP can provide an efficient and\n cost-effective way for the REIT to issue additional equity to existing\n unitholders. The participation rate of unitholders, including insiders\n of the REIT, in the DRIP is not currently known to PROREIT.\n\n\nAbout PROREIT \n\n\nPROREIT (www.proreit.com) is an unincorporated open-ended real estate investment trust\n established pursuant to a declaration of trust under the laws of the\n Province of Ontario. PROREIT was established in March 2013 to own a\n portfolio of diversified commercial real estate properties in Canada,\n with a focus on primary and secondary markets in Québec, Atlantic\n Canada and Ontario.\n\n\nForward-Looking Statements \n\n\nThis news release may contain forward-looking information within the\n meaning of applicable securities legislation. Forward-looking\n information is based on a number of assumptions and is subject to a\n number of risks and uncertainties, many of which are beyond PROREIT's\n control, that could cause actual results and events to differ\n materiall...