Plazacorp announces $3.5 million offering of 8% short term notes and announces it has become a Tier 1 issuer on the TSX Venture Exchange
Mar 5, 2008
FREDERICTON, March 5 /CNW/ - Plazacorp Retail Properties Ltd. (PLZ:TSX Venture) announced today that it intends to raise $3.5 million through a short term note offering. The notes which bear interest at 8.0% per annum, payable monthly with a 0.5% payment on maturity or redemption. The notes will mature six months from date of issuance and are subject to redemption any time after three months from the date of issuance. The proceeds from the sale will be used for short term financing of acquisition and development of retail real estate and for general corporate purposes. The offering is fully subscribed and is anticipated to close on March 18, 2008. The notes will be offered to Canadian Residents in reliance on statutory exemptions from prospectus and registration requirements. The notes are RRSP eligible. Plazacorp also announced today that it has achieved Tier 1 issuer status on the TSX Venture Exchange (the "Exchange") effective March 6, 2008. As stated in the Exchange's Corporate Finance Manual Policy 2.1 "Tier 1 is the Exchange's premier tier and is reserved for the Exchange's most advanced issuers with the most significant financial resources. Tier 1 issuers benefit from decreased TSX Venture filing requirements and improved service standards." Plazacorp Retail Properties Ltd. is an owner of shopping malls and strip plazas throughout Atlantic Canada, Quebec and Ontario. Plazacorp now owns interests in 90 properties comprising over 4.1 million square feet of retail real estate. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. %SEDAR: 00012014E
For further information:
For further information: on Plazacorp, visit our website at www.plaza.ca or contact: Earl Brewer, Chairman or Kim Sharpe, Director of Business Development, (506) 451-1826