Minto Apartment REIT Files Preliminary Base Shelf Prospectus
Minto Apartment REIT Files Preliminary Base Shelf Prospectus |
[12-December-2018] |
OTTAWA, Dec. 12, 2018 /CNW/ - Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) today announced that it has filed and obtained a receipt for a preliminary short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada.
Upon a final short form base shelf prospectus (the "Shelf Prospectus") becoming effective, these filings will, subject to securities regulatory requirements, allow the REIT to issue trust units and debt securities (the "Securities"), and to qualify the sale of any trust units by Minto Properties Inc. and its affiliates, in amounts, at prices and on terms based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement ("Prospectus Supplement"), for an aggregate offering amount of up to $750,000,000, during the 25 month period that the Shelf Prospectus is effective. Unless otherwise specified in a Prospectus Supplement, the net proceeds from the sale of Securities for cash may be used for potential future acquisitions, capital expenditures, to repay indebtedness and general working capital purposes. Each Prospectus Supplement will contain specific information concerning the use of proceeds from that sale of Securities. There is no certainty that any Securities will be offered or sold under the Shelf Prospectus within the 25-month period. Michael Waters, CEO of the REIT, said, "This filing is intended to provide the REIT with enhanced flexibility in accessing capital markets, enabling us to move quickly to capitalize on opportunities to enhance unitholder value." This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction where the offer, sale or solicitation would be unlawful. The securities referred to in this press release may not be offered or sold in the United States absent registration or an applicable exemption from registration. A copy of the preliminary short form base shelf prospectus can be found on SEDAR at www.sedar.com. About Minto Apartment Real Estate Investment Trust Forward-Looking Information SOURCE Minto Apartment Real Estate Investment Trust | ||
Company Codes: Toronto:MI.UN |
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