BTB Real Estate Investment Trust

BTB Real Estate Investment Trust

October 26, 2006 10:06 ET

BTB Real Estate Investment Trust Announces Notice of Exercise of Over-Allotment Option

MONTREAL, QUEBEC--(CCNMatthews - Oct. 26, 2006) - BTB Real Estate Investment Trust (TSX VENTURE:BTB.UN) ("BTB REIT"), a real estate investment trust formed under the laws of the province of Quebec listed on the TSX Venture Exchange (the "Exchange"), announced today that, pursuant to the terms of the Agency Agreement dated September 26, 2006 between BTB REIT, Blackmont Capital Inc., National Bank Financial Inc. and Dundee Securities Corporation (collectively, the "Agents") relating to the public offering completed on October 3, 2006 which resulted in aggregate gross proceeds to BTB REIT of $37,000,000, the Agents have given notice of their intention to exercise their Over-Allotment Option with respect to $883,000 aggregate principal amount of Additional Debentures. The Additional Debentures are expected to be issued on or about October 31, 2006.

The Units and the Debentures are listed on the Exchange and are trading under the symbols "BTB.UN" and "BTB.DB.", respectively. The Debentures are issuable in denominations of $10.00 and multiples thereof.

The trustees of BTB REIT are Messrs. Jocelyn Proteau, Michel Leonard, Peter Polatos, George Rossi, Jean-Pierre Janson, Richard Lord, Luc Lachapelle, Normand Beauchamp and Claude Garcia. The same individuals are the insiders of BTB REIT.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • BTB Real Estate Investment Trust
    Mr. Michel Leonard
    President and Chief Executive Officer
    514-866-1990 extension 236
    BTB Real Estate Investment Trust
    Mr. George Rossi
    Chief Financial Officer