Business & Investment

Nexus REIT Establishes Equity Program in Market

Article content

/ Distribution to US news services or
Dissemination in the United States /

Toronto and Montreal, September 24, 2021 (GLOBE NEWSWIRE) — Nexus Real Estate Investment Trust (TSX: NXR.UN) (“Nexus” or “REIT”) today announced that it has established $ 50 million in the market. bottom. Equity program (“ATM program”).

The ATM program allows REITs, at their discretion, issue REIT trust units (“REIT units”) of up to $ 50 million to the public at any time. Distribution of REIT units under the ATM program, if any, will be made in accordance with the terms of the equity distribution agreement (“equity share agreement”) dated September 24, 2021 between REITs, BMO Capital Markets and Dejardan Capital Markets. .. Units sold under the ATM program will be sold directly on the Toronto Stock Exchange or other recognized markets, to the extent permitted, at prevailing market prices at the time of sale. The ATM program is valid until August 17, 2023, unless previously terminated under the terms of a share distribution agreement. REITs will use the net revenue from REIT units sold under the ATM program for acquisition funding, debt repayment, development investment funding, and general working capital, if any.

advertisement

Article content

The amount and timing of distributions under the ATM program, if any, will be determined in REIT’s sole discretion. REIT units distributed under the ATM program are generally distributed at the prevailing market price at the time of sale, so prices may vary between buyers and during the distribution period.

The ATM program is a Prospectus supplement dated September 24, 2021 (“Prospectus Supplement”) for REIT’s Short Form Base Shelf Prospectus (“Base Shelf Prospectus”) dated July 16, 2021. ) Was established. Details of the ATM program can be found in the supplement to the prospectus. Prospectus supplements, base shelf prospectuses and share distribution agreements are available at SEDAR at the following URL: www.sedar.com..

advertisement

Article content

This press release does not constitute an offer to sell or offer to buy, nor does it sell securities in jurisdictions where such offer, solicitation or sale is illegal. REIT units have not been and will not be registered under the US Securities Act of 1933 (the “1933 Act”). It may not be offered, sold, or distributed directly or indirectly in the United States. For “Americans” (as defined in Regulation S of the Securities Act of 1933), or for their accounts or interests, unless subject to an exemption from the registration requirements of the Securities Act of 1933.

About Nexus REIT

Nexus is located in Canada’s primary and secondary markets and is growth-oriented with a focus on increasing investor value through the acquisition of potentially industrial real estate, including the United States, and the ownership and management of its portfolio of real estate. Real estate investment trust. REITs currently own a portfolio of 90 properties with a total leasable area of ​​approximately 6.8 million square feet. The number of REIT issued units is approximately 43,795,000. In addition, there are issued and unpaid Nexus subsidiary Limited Partnership Class B LP units that can be converted to approximately 16,400,000 units.

advertisement

Article content

Description of future prospects

The specific statements contained in this news release make up the forward-looking statements that reflect the REIT’s current expectations and expectations of future outcomes. Often, but not always, forward-looking statements are “planned,” “expected,” “not expected,” “expected,” “estimated,” “intended,” and “expected.” Can be identified using words such as. Or “unexpected”, “believe”, or a variation of such a word or phrase, or a particular action, event, or result is “possible,” “possible,” or “possible.” , “Possible”, or “Possible”, occurs or achieved. Forward-looking statements, known and unknown, that the actual outcome, performance, or outcome of a REIT may differ materially from the future outcome, performance, or outcome expressed or implied by the forward-looking statement. Includes risks, uncertainties, and other factors. Actual results and progress may differ from those expressed or implied by the forward-looking statements contained in this news release and may differ materially. These forward-looking statements are based on some assumptions that may turn out to be incorrect.

advertisement

Article content

REITs anticipate that subsequent events and developments may change their views, but explicitly deny the obligation to update these forward-looking statements unless required by applicable law. increase. These forward-looking statements should not be relied upon to represent REIT’s views on dates after the date of this news release. Actual results and future events may differ materially from those expected in such a statement, so there is no guarantee that the statement regarding the future outlook will be proven to be accurate. Therefore, readers should not place undue reliance on forward-looking statements. The above factors are not intended to represent a complete list of factors that may affect REITs.

For more information, please contact:

Kelly Hanchik, CEO of (416) 906-2379;
Rob Chiasson, CFO, (416) 613-1262

Primary logo

advertisement

comment

Postmedia maintains a lively yet civic discussion forum and encourages all readers to share their views on our articles. Moderation can take up to an hour for comments to appear on your site. Comments are relevant and should be stored with respect. You have enabled email notifications. You will now receive an email when you receive a reply to a comment, when the comment thread you are following is updated, or when a user follows a comment.Please see us Community guidelines For details and details of the adjustment method Email Configuration.

Nexus REIT Establishes Equity Program in Market

https://financialpost.com/globe-newswire/nexus-reit-establishes-at-the-market-equity-program Nexus REIT Establishes Equity Program in Market

Back to top button