TORONTO, ONTARIO--(Marketwire - Aug. 13, 2009) -
MEDIA RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
Calloway Real Estate Investment Trust ("Calloway") (TSX:CWT.UN) announced today that it has agreed to issue, on a bought deal basis, 3,226,000 trust units (the "Units") for $15.50 per Unit for gross proceeds of approximately $50 million. A syndicate co-led by CIBC, RBC Capital Markets and BMO Capital Markets, with CIBC acting as bookrunner, is acting as underwriters for the offering.
This offering is being made on a bought basis by way of shelf prospectus filed in all provinces of Canada and pursuant to Rule 144A in the U.S. Closing is expected to occur on or about August 25, 2009.
The net proceeds from the offering will be used by Calloway to pay down its line of credit, to finance future acquisitions and for general trust purposes.
Calloway Real Estate Investment Trust is an unincorporated open-end real estate investment trust focused on the ownership and development of high quality retail properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
Calloway Real Estate Investment Trust Simon Nyilassy President and Chief Executive Officer (905) 326-6400 (905) 326-0783 (FAX) Website: www.callowayreit.com
The Toronto Stock Exchange neither approves nor disapproves of the contents of this Press Release.
© Marketwire
