TORONTO and MONTREAL, Jan. 27, 2021 (GLOBE NEWSWIRE) -- Nexus Real Estate Investment Trust (the “REIT”) (TSXV: NXR.UN) announces a TSX graduation update.
On November 16, 2020, the REIT announced that the Toronto Stock Exchange had conditionally approved the listing of Nexus REIT’s units subject to the REIT fulfilling all of the requirements of the Exchange on or before January 26, 2021, including distribution of the REIT’s securities to a minimum number of public unitholders.
The TSX has extended the conditional approval date by 30 days, and the REIT expects to graduate on or about February 1, 2021.
The REIT intends to complete a 4 to 1 consolidation of outstanding units concurrent with graduation to the TSX.
About Nexus REIT
Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition, ownership and management of industrial, office and retail properties located in primary and secondary markets in North America. The REIT currently owns a portfolio of 75 properties comprising approximately 4.4 million square feet of rentable area. The REIT has approximately 112,287,000 units issued and outstanding. Additionally, there are Class B LP units of subsidiary limited partnerships of Nexus REIT issued and outstanding, which are convertible into approximately 25,305,000 REIT Units.
Forward Looking Statements
Certain statements contained in this news release constitute forward-looking statements which reflect the REIT’s current expectations and projections about future results. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state 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 REIT to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Such forward-looking statements are based on a number of assumptions that may prove to be incorrect.
While the REIT anticipates that subsequent events and developments may cause its views to change, the REIT specifically disclaims any obligation to update these forward-looking statements except as required by applicable law. These forward-looking statements should not be relied upon as representing the REIT’s views as of any date subsequent to the date of this news release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. 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 REIT.
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.
For further information please contact:
Kelly C. Hanczyk, CEO at (416) 906-2379; or
Rob Chiasson, CFO at (416) 613-1262.