GT Canada Medical Properties REIT Obtains Unitholder Approval for Proposed Sale of Portfolio
TORONTO, Sept. 25, 2012 /CNW/ - GT Canada Medical Properties Real Estate Investment Trust (TSX-V:MOB.UN) ("GT Canada") announced today that it has obtained, by way of written consent, disinterested unitholder approval for the previously announced sale of its existing medical office building portfolio to NorthWest Healthcare Properties REIT ("NWHP REIT") in two separate transactions. Such approval, which was a condition of the TSX Venture Exchange's final acceptance of the transaction, was obtained from approximately 66% of GT Canada's unitholders excluding Northwest Value Partners Inc. ("NWVP") and its "affiliates" and "associates".GT Canada expects the sale transactions to close in the fourth quarter of 2012, with an effective closing date of October 1, 2012. Following closing, NWVP intends to reconfigure GT Canada to support NWVP's international healthcare initiatives, which include healthcare property investments in Australia/New Zealand, Brazil and Germany.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release may contain projections and "forward-looking statements" within the meaning of that phrase under Canadian securities laws. When used in this new release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions may be used to identify forward-looking statements. Those statements reflect NWVP's and GT Canada's current views with respect to future events or conditions, including matters relating to the sale transaction and GT Canada's future plans. By their nature, those statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, described in GT Canada's annual information form dated as of August 14, 2012. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. GT Canada does not intend to nor assume any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise, unless required by law.
SOURCE GT Canada Medical Properties Real Estate Investment Trust