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True North Commercial REIT Continues Unitholder Value Initiatives with Suspension of Distribution Reinvestment Plan and Announcement of a Normal Course Issuer Bid and Timing of Q1-2023 Results
True North Commercial REIT Continues Unitholder Value Initiatives with Suspension of Distribution...
About this update from True North Commercial Reit
[{"type":"text","content":"\n \n \n \n True North Commercial REIT Continues Unitholder Value Initiatives with Suspension of Distribution Reinvestment Plan and Announcement of a Normal Course Issuer Bid and Timing of Q1-2023 Results\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.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Chief Executive Officer Acquires 1,606,000 million Trust Units to Increase Ownership to 9.9%\n \n \n \n \n \n and\n \n \n \n \n Insiders Acquire an Additional 374,925 Trust Units to Collectively Increase Ownership to 11.4%\n \n \n \n \n \n /NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/\n \n \n \n \"\n \n This news release constitutes a \"designated news release\" for the purposes of the REIT's prospectus supplement dated\n \n April 21, 2022\n \n to its short form base shelf prospectus dated\n \n February 17, 2022\n \n .\"\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 12, 2023\n \n \n /CNW/ - True North Commercial Real Estate Investment Trust (TSX: TNT.UN) (the \"\n \n REIT\n \n \") announced today that it has undertaken additional initiatives to further its capital strengthening and unitholder (\"\n \n Unitholder\n \n \") value strategy including its filing of a notice with the Toronto Stock Exchange (\"\n \n TSX\n \n \") to make a normal course issuer bid (\"\n \n NCIB\n \n \") and the suspension of the REIT's distribution reinvestment plan (\"\n \n DRIP\n \n \"). The REIT also announced that since\n \n March 16, 2023\n \n insiders of the REIT, including\n \n Daniel Drimmer\n \n , the REIT's Chairman of the Board and Chief Executive Officer, have acquired an aggregate of 1,980,925 trust units (\"\n \n Units\n \n \") reflecting their ongoing confidence in the REIT's ability to improve long-term Unitholder value.\n \n \n \"The implementation of these additional initiatives will further advance the REIT's previously announced unitholder value plan and demonstrates management's commitment to improving the strength of the REIT's near and long-term financial position,\" explained\n \n Daniel Drimmer\n \n...