Avenir Diversified Income Trust

Avenir Diversified Income Trust

March 21, 2005 08:45 ET

Avenir Diversified Income Trust Completes $126,500,000 Million Prospectus Offering


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AVENIR DIVERSIFIED INCOME TRUST

TSX SYMBOL: AVF.UN

MARCH 21, 2005 - 08:45 ET

Avenir Diversified Income Trust Completes $126,500,000
Million Prospectus Offering

CALGARY, ALBERTA--(CCNMatthews - March 21, 2005) - Avenir Diversified
Income Trust (TSX:AVF.UN) (the "Trust") is pleased to announce that it
has completed its previously announced public offering by way of long
form prospectus of 11,605,504 trust units at a price of $10.90 per unit
for gross proceeds of approximately $126,500,000, which included the
exercise of an over-allotment option for 1,513,761 trust units at a
price of $10.90 per unit. The offering was completed by GMP Securities
Ltd. and Raymond James Ltd., as co-lead agents for a syndicate including
First Associates Investments Inc., Canaccord Capital Corporation and
Acumen Capital Finance Partners Limited.

The Trust will use the net proceeds of the offering for continued growth
and development in its energy, financial services and real estate
operations.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The
securities offered have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or sold in the
United States except in certain transactions exempt from the
registration requirements of the U.S. Securities Act and applicable
state securities laws.

Not for Distribution to U.S. Newswire Services or for Dissemination in
the United States


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Avenir Diversified Income Trust
    William Gallacher
    Chief Executive Officer
    (403) 237-9949
    (403) 237-0903 (FAX)
    or
    Avenir Diversified Income Trust
    Gary Dundas
    Chief Financial Officer
    (403) 237-9949
    (403) 237-0903 (FAX)
    or
    Avenir Diversified Income Trust
    Suite 300, 808 - 1st Street S.W.
    Calgary, Alberta T2P 1M9
    The Toronto Stock Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.