By Devika Patel
Knoxville, Tenn., Oct. 12 - InterRent Real Estate Investment Trust said it has completed a non-brokered C$5.09 million private placement of units.
The company sold 1 million units at C$5.09 apiece. Each unit consists of one trust unit and one-trust unit warrant. Each two-year warrant is exercisable into a trust unit at C$5.09.
The securities will have a four-month hold period.
Proceeds will be used for general corporate purposes.
Based in Toronto, InterRent is an open-ended real estate investment trust.
| Issuer: | InterRent Real Estate Investment Trust
|
| Issue: | Units of one trust unit and one trust unit warrant
|
| Amount: | C$5.09 million
|
| Units: | 1,000,000
|
| Price: | C$5.09
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$5.09
|
| Agent: | Non-brokered
|
| Settlement date: | Oct. 12
|
| Stock symbol: | Toronto: IIP.UN
|
| Stock price: | C$4.08 at close Oct. 11
|
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