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TORONTO, Nov. 07, 2018 (GLOBE NEWSWIRE) -- PINE TRAIL CAPITAL TRUST (“Pine Trail” or the “Trust”) (TSXV: PINE.P) is pleased to announce that it has closed its previously announced acquisition (the “Acquisition”) of a medical office building located in Picton, Ontario (the “Property”) as previously described in its press releases dated May 16, 2018, August 22, 2018 and November 2, 2018, and more particularly set out in its filing statement dated October 31, 2018 (the “Filing Statement”) which is available under the Trust’s profile on SEDAR at www.sedar.com.
The Acquisition constitutes the Trust's Qualifying Transaction (as such term is defined by the polices of the TSXV). In connection with the closing of the Acquisition, the Trust is no longer a capital pool company, and the Trust has also changed its name to Pine Trail Real Estate Investment Trust ("Pine Trail REIT") and has converted into an open ended real estate investment trust. Further information on Pine Trail REIT, the issuer resulting from the Qualifying Transaction, is disclosed in the Filing Statement.
Trading in units of Pine Trail REIT is expected to commence on the TSXV under the symbol “PT” following the issuance by the TSXV of its final bulletin in respect of the Qualifying Transaction, in any event not earlier than November 14, 2018 in accordance with the policies of the TSXV.
FOR FURTHER INFORMATION, PLEASE CONTACT:
David Luu, CFO and Corporate Secretary
Phone: (416) 583-5513
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “does not expect”, “is expected”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Trust to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include the timing for resumption of trading in units of Pine Trail REIT. Accordingly, readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the Trust. The forward-looking statements contained in this press release are made as of the date of this press release, and Pine Trail does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to such transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.