Summit II REIT Trustee Resigns

Jan 24, 2013, 12:51 ET from Summit Industrial Income REIT

TORONTO, Jan. 24, 2013 /CNW/ - Summit Industrial Income REIT ("Summit II") (TSXV: SMU.UN) today announced that one of its Trustees, Mr. Peter Lacey, has resigned from Summit II's Board of Trustees.

Summit II regularly is in the process of confidentially negotiating potential transactions and expects that its insiders will not trade in its securities while such negotiations are underway.

Mr. Lacey recently traded Summit II units, which he has confirmed was done inadvertently to accommodate his personal financial planning and with full disclosure as required under applicable law.  In the circumstances, and given his other work and travel commitments, Mr. Lacey has decided to step down from the Board of Trustees, although he remains a significant unitholder of Summit II and very supportive of its plans and prospects.

Summit II is in the process of recruiting two new independent Trustees which it expects to announce shortly.

About Summit II Summit Industrial Income REIT is an open-ended mutual fund trust focused on growing and managing a portfolio of light industrial properties across Canada. Summit II's units are listed on the TSX Venture Exchange and trade under the symbol SMU.UN.

Caution Regarding Forward Looking Information This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "goal" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning the recruitment of two new independent trustees. The forward-looking statements and information are based on certain key expectations and assumptions made by Summit II, including identifying qualified candidates. Although Summit II believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Summit II can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, tenant risks, current economic environment, environmental matters, general insured and uninsured risks and Summit II being unable to obtain any required financing and approvals. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward looking information for anything other than its intended purpose. Summit II undertake no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Summit Industrial Income REIT