CALGARY, Alberta, Sept. 12, 2019 (GLOBE NEWSWIRE) -- Northview Apartment Real Estate Investment Trust ("Northview" or the "Trust") (NVU.UN – TSX) announced today that it has filed a preliminary base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada. The final base shelf prospectus will be valid for a period of 25 months after all the receipts of the final base shelf prospectus are received. During this period, Northview may offer and issue, from time to time, Trust units, debt securities and subscription receipts, or any combination thereof, (collectively, the "Securities"), for an aggregate offering amount of up to $750 million. Any issue of Securities under the base shelf prospectus will require the filing of a prospectus supplement that will include specific terms of the Securities being offered. Unless otherwise indicated in a prospectus supplement relating to a particular offering of Securities, Northview expects to use the net proceeds to finance growth opportunities, for general trust purposes, and to repay existing or future indebtedness.
This media release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities in any jurisdiction. No securities may be sold nor may be offered prior to obtaining all the receipts for the final base shelf prospectus from each of the provinces and territories.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This media release contains forward-looking statements including, but not limited to, statements relating to an offering of Securities and the use of the proceeds therefrom. These statements are not guarantees of future events, performance or results and will not necessarily be accurate indications of whether, or the times at which, such events, performance or results will be achieved.
Forward-looking statements are based on information available at the time they are made, underlying estimates and assumptions made by management and management's good faith belief with respect to future events, performance and results, and are subject to inherent risks and uncertainties surrounding future expectations generally, which could cause actual results to differ materially from what is currently expected. Such risks and uncertainties include, but are not limited to, risks related to: real property ownership; availability of cash flow and mortgage financing; demand for rental accommodation and commercial space; natural resource prices; development and construction risks; reliance on key personnel; concentration of tenants; capital requirements; interest rate risk; credit risk; liquidity risk; general uninsured losses; government regulation; environmental risk; utility costs; potential conflicts of interest; integration of acquired properties; income tax related risk factors; and other risk factors more particularly described in Northview's most recent Annual Information Form and MD&A, both of which are available on SEDAR at www.sedar.com. Additional risks and uncertainties not presently known to Northview or that Northview currently believes to be less significant may also adversely affect Northview.
Readers are cautioned that the above list of factors is not exhaustive and that should certain risks or uncertainties materialize, or should underlying estimates or assumptions prove incorrect, actual events, performance and results may vary significantly from those expected. There can be no assurance that the actual results, performance, events or activities anticipated by Northview will be realized or, even if substantially realized, that they will have the expected consequences to, or effect on, Northview. Readers, therefore, should not place undue importance on forward-looking information. Further, these forward-looking statements speak only as of the date of this media release. Northview disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
Northview is one of Canada's largest publicly traded multi-family REITs with a portfolio of approximately 27,000 residential units and 1.2 million square feet of commercial space in more than 60 markets across eight provinces and two territories. Northview's well-diversified portfolio includes markets characterized by expanding populations and growing economies, which provides Northview the means to deliver stable and growing profitability and distributions to Unitholders of Northview over time. Northview currently trades on the TSX under the ticker symbol: NVU.UN. Additional information concerning Northview is available at www.sedar.com or www.northviewreit.com.
For additional information, please contact:
Mr. Todd Cook
President and Chief Executive Officer
Mr. Travis Beatty
Chief Financial Officer
Mr. Leslie Veiner
Chief Operating Officer