By Sheri Kasprzak
New York, Oct. 30 - Lakeview Hotel Real Estate Investment Trust intends to raise up to C$32 million in a private placement.
The offering includes up to 8 million trust units at C$4.00 apiece.
The deal is being placed through a syndicate of agents led by Wellington West Capital Inc. and Desjardins Securities Inc. and including Westwind Partners Inc.
The placement is scheduled to close Nov. 8.
Proceeds will be used for acquisitions, including three hotel properties in British Columbia currently under contract.
Located in Winnipeg, Man., Lakeview is real estate investment trust focused on acquiring hotel and resort properties in Canada.
| Issuer: | Lakeview Real Estate Investment Trust
|
| Issue: | Trust units
|
| Amount: | C$32 million
|
| Trust units: | 8 million
|
| Price: | C$4.00
|
| Warrants: | No
|
| Placement agents: | Wellington West Capital Inc. (lead), Desjardins Securities Inc. (lead), Westwind Partners Inc.
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 8
|
| Stock symbol: | TSX Venture: LHR
|
| Stock price: | C$4.25 at close Oct. 27
|
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