Nexus REIT establishes a program of actions in the market

Content of the article

/ DO NOT DISTRIBUTE TO NEWS SERVICES OR
BROADCAST IN THE UNITED STATES /

TORONTO and MONTREAL, Sep 24, 2021 (GLOBE NEWSWIRE) – Nexus Real Estate Investment Trust (TSX: NXR.UN) (“Nexus” or the “REIT”) announced today that it has established an equity plan (the “ATM Program”).

The ATM Program allows the REIT to issue, at its discretion, up to $ 50,000,000 in Trust Units of the REIT (the “REIT Units”) to the public from time to time. Distributions of REIT Units under the ATM Program, if any, will be made in accordance with the terms of an Equity Distribution Agreement dated September 24, 2021 (the “Equity Distribution Agreement”) between the REIT, BMO Capital Markets and Desjardins Capital Markets. Units sold under the ATM program will be sold directly on the Toronto Stock Exchange or other recognized market to the extent permitted, at market prices prevailing at the time of sale. The ATM program will be effective until August 17, 2023, unless it is previously terminated under the terms of the share distribution agreement. The REIT intends to use the net proceeds of the REIT Units sold under the ATM Program, if any, to finance acquisitions, repay debt, finance development investments and for general working capital purposes. .

Advertising

Content of the article

The volume and timing of distributions under the ATM Program, if any, will be determined at the sole discretion of the REIT. Since the REIT Units distributed under the ATM Program will be distributed to the public at market prices prevailing at the time of sale, prices may vary between buyers and during the distribution period.

The ATM program was established pursuant to a prospectus supplement dated September 24, 2021 (the “Prospectus Supplement”) to the REIT’s short form base shelf prospectus dated July 16, 2021 (the “Base shelf prospectus”) . Further details on the ATM program can be found in the prospectus supplement. The Prospectus Supplement, Base Shelf Prospectus and Share Distribution Agreement are available on SEDAR at www.sedar.com.

Advertising

Content of the article

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal. Units of the REIT have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) and may not be offered, sold or delivered, directly or indirectly, to the States. -United. , or to, or on behalf of or for the benefit of “United States persons” (as defined in Regulation S under the 1933 Act), except by virtue of an exemption from the registration requirements of the 1933 Act .

About Nexus FPI

Nexus is a growth-oriented real estate investment trust focused on increasing value for unitholders through the acquisition of industrial properties located in primary and secondary markets in Canada and which may include the United States, as well as the ownership and management of its portfolio of properties. The REIT currently owns a portfolio of 90 properties with a gross leasable area of ​​approximately 6.8 million square feet. The REIT has approximately 43,795,000 Units issued and outstanding. In addition, there are Class B limited partnership units of subsidiary limited partnerships of Nexus issued and outstanding, which are convertible into approximately 16,400,000 units.

Advertising

Content of the article

Forward-looking statements

Certain statements contained in this press release constitute forward-looking statements that reflect the REIT’s current expectations and projections regarding future results. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “believes”, ” intention ”,“ anticipates ”or“ does not anticipate ”, or“ believes ”, or variations of these words and expressions or state that certain actions, events or results“ could ”,“ could ”,“ would ”, “Could” or “would” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the REIT’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by the REIT. forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. These forward-looking statements are based on a number of assumptions which may prove to be incorrect.

Advertising

Content of the article

Although the REIT expects that subsequent events and developments may cause its views to change, the REIT expressly disclaims any obligation to update these forward-looking statements, except as required by applicable law. These forward-looking statements should not be taken as representing the views of the REIT as of any date subsequent to the date of this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of factors that could affect the REIT.

For more information, please contact:

Kelly Hanczyk, CEO at (416) 906-2379; Where
Rob Chiasson, Chief Financial Officer at (416) 613-1262.

Main logo

Advertising

comments

Postmedia is committed to maintaining a lively but civil discussion forum and encourages all readers to share their views on our articles. Comments may take up to an hour of moderation before appearing on the site. We ask that you keep your comments relevant and respectful. We have enabled email notifications. You will now receive an email if you receive a reply to your comment, if there is an update to a comment thread that you follow, or if a user that you follow comments. Check out our community guidelines for more information and details on how to adjust your email settings.


Source link

Comments are closed.