CALGARY, Alberta, May 01, 2018 (GLOBE NEWSWIRE) -- Mohawk Medical Properties Real Estate Investment Trust (the "REIT") and Mohawk Medical Operating Partnership (I) LP (the "Partnership" and together with the REIT, "Mohawk") is pleased to announce the closing of the plan of arrangement involving, among others, Mohawk, Invesque Inc. (the "Purchaser") and the holders of Class A units of the REIT and Class A, Series 2 units of the Partnership (collectively the "Units"), as previously announced by Invesque on March 2, 2018 (the "Arrangement").

Pursuant to the Arrangement, the Purchaser has indirectly acquired, through its wholly-owned subsidiary, all of the outstanding Units in exchange for 3,487,642 common shares of the Purchaser (the "Invesque Shares"). Under the terms of the Arrangement, the holders of Units shall receive approximately 6.55 Invesque Shares for every Unit held.  The Invesque Shares trade on the Toronto Stock Exchange under the symbol IVQ.U and trade in U.S. dollars.

The meetings of the Mohawk unitholders to approve the Arrangement were held on April 26, 2018 and approved by 98.52% of the Units that voted.

Mohawk received the final order of the Court of Queen's Bench of Alberta on Friday April 27, 2018 and proceeded diligently towards closing today.

Mohawk would like to thank Raymond James, Richardson GMP, Timbercreek Mortgage Servicing Inc., Cranson Capital and RainTree Financial for their years of advice and support. Mohawk would also like to thank Duff & Phelps for their completion of the Fairness Opinion.

“Invesque is an exciting company. They’ve grown fast and they've been smart. We are very honored to call them partners and look forward to expanding their platform,” remarked Andrew Shapack, Co-President of Mohawk Realty Advisors. “We are thrilled to provide our investors the opportunity to participate in the rapidly growing, cross border, health care portfolio that Invesque is assembling as well as deliver a liquidity event within five and a half years of launching the first Mohawk LP,” said Sean Nakamoto, Co-President of Mohawk Realty Advisors.

Registered holders of Units, who have not already done so, should submit their certificate(s) representing their Units (if applicable) along with a completed letter of transmittal to the depositary, Computershare Investor Services Inc., in order to receive the Invesque Shares. Holders of Units who hold their Units through a broker, investment dealer or other intermediary should follow the instructions by such broker, investment dealer or other intermediary. There is a separate letter of transmittal for the Units of the REIT and the Units of the Partnership. In many cases, holders of Units hold Units in both the REIT and the Partnership and will have to submit two letters of transmittal to receive their full entitlement of Invesque Shares.

Further details regarding the Arrangement can be found in Mohawk's information circular and proxy statement dated March 28, 2018, filed on Mohawk's Website at www.mohawkmedical.ca.

For further information: Mohawk Realty Advisors Ltd. contact: Andrew Shapack, Co-President or Sean Nakamoto, Co-President 
Tel: (416) 532-2200