Plazacorp Completes $27.7 Million Bought Deal Public Offering of Common Shares
September 25 2011 - 5:04PM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/ FREDERICTON, Sept. 27, 2011
/CNW/ - Plazacorp Retail Properties Ltd. ("Plazacorp" or the
"Company") announced today that it has closed its previously
announced bought deal public equity offering of 6,600,000 common
shares at a price of $4.20 per common share to a syndicate of
underwriters led by RBC Capital Markets. The gross proceeds from
the offering are $27,720,000. Plazacorp has granted the
Underwriters an over-allotment option (the "Over-Allotment
Option"), exercisable in whole or in part up to 30 days after
Closing, to purchase from treasury up to an additional 990,000
common shares at the same offering price to cover over-allotments,
if any. If the Over-Allotment Option is exercised in full,
the gross proceeds of the offering will total approximately
$31,878,000. ABOUT PLAZACORP Plazacorp acquires, develops and
redevelops unenclosed and enclosed retail real estate throughout
Atlantic Canada, Quebec and Ontario, which are predominantly
occupied by national tenants (approximately 90% of the
total). The Company's portfolio at June 30, 2011 includes
interests in 112 properties totaling over 5.1 million square feet
and additional lands held for development. These include
properties directly held by Plazacorp, its subsidiaries and through
joint ventures. CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING
STATEMENTS All statements in this press release that do not relate
to historical facts constitute forward-looking statements.
These statements represent Plazacorp's intentions, plans,
expectations and beliefs and are subject to certain risks and
uncertainties that could result in actual results differing
materially from these forward-looking statements. These risks
and uncertainties are more fully described in regulatory filings
that can be obtained on SEDAR at www.sedar.com. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
PLAZACORP RETAIL PROPERTIES LTD. CONTACT: Visit our website at:
www.plaza.caOr contact: Michael Zakuta at (514) 457-0997 or
Floriana Cipollone at(416) 848-4583
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