Press release from Marketwire
Calloway REIT Announces $100 Million Public Offering of Trust Units
Wednesday, September 22, 2010
Calloway REIT Announces $100 Million Public Offering of Trust Units16:28 EDT Wednesday, September 22, 2010TORONTO, ONTARIO--(Marketwire - Sept. 22, 2010) - NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICESCalloway Real Estate Investment Trust ("Calloway") (TSX:CWT.UN) announced that it has entered into an agreement to sell, to a syndicate of underwriters co-led by RBC Capital Markets, CIBC and BMO Capital Markets, on a bought deal basis, 4,120,000 trust units ("Trust Units") at a price of $24.30 per Trust Unit to raise, in aggregate, gross proceeds of approximately $100 million. Closing of the offering of Trust Units is expected to occur on or about September 30, 2010, subject to regulatory approval.Calloway will use the net proceeds from the sale of the Trust Units for repaying indebtedness, satisfying pipeline obligations and general trust purposes.This offering is being made by way of prospectus supplement to Calloway's existing short form base shelf prospectus dated October 9, 2009. The prospectus supplement will be filed in all provinces of Canada.This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The Trust Units being offered have not been and will not be registered under the U.S. Securities Act of 1933 and state securities laws. Accordingly, the debentures may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration requirements.Calloway Real Estate Investment Trust is an unincorporated open-end real estate investment trust created to invest in a geographically diversified portfolio of high quality retail shopping centres in Canada.FOR FURTHER INFORMATION PLEASE CONTACT: Calloway Real Estate Investment Trust Simon Nyilassy President and Chief Executive Officer (905) 326-6400 ext. 7649 or Calloway Real Estate Investment Trust Bart Munn Chief Financial Officer (905) 326-6400 ext. 7631 www.callowayreit.com The Toronto Stock Exchange neither approves nor disapproves of the contents of this Press Release.