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Press release from Marketwire

Retrocom Mid-Market Real Estate Investment Trust Completes Offering of 5.45% Convertible Unsecured Subordinated Debentures

Tuesday, June 28, 2011

Retrocom Mid-Market Real Estate Investment Trust Completes Offering of 5.45% Convertible Unsecured Subordinated Debentures08:54 EDT Tuesday, June 28, 2011TORONTO, ONTARIO--(Marketwire - June 28, 2011) -NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATESRetrocom Mid-Market Real Estate Investment Trust (TSX:RMM.UN) ("RMM.UN") (the "REIT") announced today that it has completed its offering of $40,000,000 principal amount of 5.45% convertible unsecured subordinated debentures due June 30, 2018 (the "Debentures") at a price of $1,000 per $1,000 principal amount of Debentures. The Debentures were issued pursuant to the REIT's short form prospectus dated June 21, 2011 and the offering was underwritten by a syndicate led by TD Securities Inc. The Debentures are listed for trading on the Toronto Stock Exchange under the symbol "RMM.DB.B".Each Debenture is convertible into units of the REIT at the option of the holder at a conversion price of $8.10 per unit (or 123.4568 units per $1,000 principal amount of Debentures). The net proceeds from the offering are intended to be used to redeem Retrocom's 7.5% convertible unsecured subordinated debentures due July 31, 2012 (the "7.5% Debentures"), to fund planned redevelopment projects and for general trust purposes. The 7.5% Debentures are redeemable at Retrocom's option at any time on or after July 31, 2011, subject to prior delivery by Retrocom of a formal notice of redemption. About Retrocom Mid-Market REITRetrocom Mid-Market REIT is an Ontario unincorporated, open-end real estate investment trust which focuses on owning and acquiring community-based commercial properties in primary and secondary markets across Canada with the objective of producing a geographically diversified portfolio of properties with stable and growing cash flows. This press release contains forward-looking statements including statements concerning the expected use of proceeds of the offering. In some cases, forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", and by discussions of strategies that involve risks and uncertainties. The forward-looking statements are based on certain key expectations and assumptions made by the REIT. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Although management of the REIT believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that future results, levels of activity, performance or achievements will occur as anticipated. Neither the REIT nor any other person assumes responsibility for the accuracy and completeness of any forward-looking statements, and no one has any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or such other factors which affect this information, except as required by law.FOR FURTHER INFORMATION PLEASE CONTACT: Richard MichaeloffRetrocom Mid-Market Real Estate Investment TrustChief Executive Officer(416) 741-7999 ext. 5227(416) 741-7993 (FAX)rmichaeloff@rmmreit.com