CapRate Commercial Properties Inc.

CapRate Commercial Properties Inc.

September 09, 2005 17:08 ET

CapRate Announces Initial Cash Distribution and Delisting

CALGARY, ALBERTA--(CCNMatthews - Sept. 9, 2005) - David Murphy, President of CapRate Commercial Properties Inc. (TSX VENTURE:CMN) ("CapRate" or the "Corporation") is pleased to announce, further to earlier announcements regarding the dissolution of Corporation, that all closing conditions to completion of CapRate's disposition of its Vista Landing property have been either satisfied or waived. This completes the sale of all of CapRate's real estate assets. As a result, the board of directors of CapRate has approved an initial cash distribution to shareholders of record on September 15, 2005, of $0.2166 per common share. Once final dissolution costs and corporate tax assessments are determined, it is expected that a final distribution will be made in early 2006.

As a further step in the process of dissolving the Corporation, Mr. Murphy also announces that the common shares of CapRate will be delisted from trading on the TSX Venture Exchange effective as of the close of trading on September 16, 2005. The Corporation will continue its corporate existence until completion of the dissolution including payment of final tax and other liabilities and the final cash distribution.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • CapRate Commercial Properties Inc.
    Mr. David Murphy
    (403) 235-2353