PRO Real Estate Investment Trust in its $40.3 million equity offering including full exercise of over-allotment option

On September 28, 2018, PRO Real Estate Investment Trust (“PROREIT”) announced the closing of its previously announced offering (the “Offering”) of trust units of the REIT on a bought deal basis. Pursuant to the Offering, the REIT issued 17,365,000 Units at a price of $2.32 per Unit for total gross proceeds of $40,286,800, including 2,265,000 Units issued pursuant to the full exercise of the over-allotment option.

The Offering was conducted through a syndicate of underwriters, including Canaccord Genuity Corp. and TD Securities Inc. as joint bookrunners and Scotiabank, collectively as co-lead underwriters, as well as BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Haywood Securities Inc., Industrial Alliance Securities Inc., Raymond James Ltd., Laurentian Bank Securities Inc. and Leede Jones Gable Inc.

PROREIT is an unincorporated open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario.

Osler, Hoskin and Harcourt LLP represented PROREIT with a team consisting of Bastien Gauthier and Mikulas Arendas (Corporate), and Etienne Massicotte (Financial Services).