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OTTAWA, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Minto Apartment Real Estate Investment Trust (TSX: MI.UN) (the "REIT") announces that it has entered into an agreement to issue 3,300,000 trust units of the REIT (the “Units”) from treasury on a bought deal basis at a price of $22.85 per Unit (the “Offering Price”) to a syndicate of underwriters bookrun by TD Securities Inc. and BMO Capital Markets (the “Underwriters”) for gross proceeds of approximately $75 million (the “Offering”). In addition, the REIT has granted the Underwriters an option, exercisable in whole or in part at any time up to 30 days following closing of the Offering, to purchase up to an additional 495,000 Units at the Offering Price (the "Over-Allotment Option") which, if exercised in full, would increase the gross proceeds of the Offering to approximately $86 million.