Plazacorp announces exercise of Over-Allotment Option
October 06 2011 - 6:22PM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/ FREDERICTON, Oct. 7, 2011 /CNW/
- Plazacorp Retail Properties Ltd. ("Plazacorp" or the "Company")
announced today that the underwriters of its recently completed
public equity offering of 6,600,000 common shares at a price of
$4.20 per common share for gross proceeds of $27,720,000 have
provided notice of their intent to exercise in full, their
over-allotment option (the "Over-Allotment Option") to purchase an
additional 990,000 common shares at a price of $4.20 per common
share for additional gross proceeds of $4,158,000. The closing of
the exercise of the Over-Allotment Option is expected to occur on
October 12, 2011. The common shares were qualified by a short
form prospectus dated September 20, 2011 and were underwritten by a
syndicate of underwriters led by RBC Capital Markets. 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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