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Press release from CNW Group

Retrocom REIT completes $44,506,000 equity offering

Friday, November 09, 2012

Retrocom REIT completes $44,506,000 equity offering08:38 EST Friday, November 09, 2012/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OR TO ANY NON-CANADIAN SOURCE/TORONTO, Nov. 9, 2012 /CNW/ - (TSX: RMM.UN) - Retrocom Mid-Market Real Estate Investment Trust (the "REIT" or "Retrocom REIT") today announced the closing of its previously announced public offering of 7,150,000 trust units ("Units"), at a price of $5.60 per Unit. Concurrent with the closing of the offering, the syndicate of underwriters, led by TD Securities Inc., has exercised the over-allotment option and purchased an additional 797,500 Units resulting in a total of 7,947,500 Units being issued today by Retrocom for gross proceeds of $44,506,000.The net proceeds of the offering are expected to be used to partially fund the previously announced acquisition of three investment properties from Calloway REIT, to fund development and re-development activities and for general trust purposes.This press release is not an offer of securities for sale in the United States. The offering of Units described in this press release has not been and will not be registered under the United States Securities Act of 1933 and accordingly such Units are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person.About Retrocom REITRetrocom REIT is an unincorporated, open-end real estate investment trust which focuses on owning and acquiring retail properties across Canada with the goal of enhancing long-term unitholder value.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 regarding, among other things, the use of the net proceeds from the offering. 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.SOURCE: Retrocom Mid-Market Real Estate Investment TrustFor further information: Richard Michaeloff, Chief Executive Officer, Tel: (416) 741-7999, Fax: (416) 741-7993, E-mail: rmichaeloff@rmmreit.com.