HHT Investments Inc.
TSX VENTURE : HHT

March 12, 2014 18:42 ET

HHT Shareholders Approve All Matters Presented at Its Special Meeting of Shareholders

TORONTO, ONTARIO--(Marketwired - March 12, 2014) -

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HHT Investments Inc. (the "Corporation") (TSX VENTURE:HHT) is pleased to announce that shareholders of the Corporation have approved all matters voted on at the special meeting of shareholders held on March 7, 2014 (the "Meeting"). The Meeting was called to approve the Corporation's previously announced reorganization under a plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement"), whereby it intends to convert into a real estate investment trust named "Boulevard Industrial Real Estate Investment Trust" (the "REIT"). The Arrangement was also approved pursuant to a final order issued by the Ontario Superior Court of Justice (Commercial List) on Tuesday March 11, 2014, but remains subject to receipt of final approval of the TSX Venture Exchange (the "TSXV") through the issuance of the TSXV's final exchange bulletin regarding the Corporation's qualifying transaction (as defined in Policy 2.4 of the Corporate Finance Manual).

At the Meeting, the shareholders of the Corporation:

  1. elected Robert Doman, Andrew Lepper and Christopher Murray to serve on the board of trustees of the REIT upon completion of the arrangement with Scott Hayes and Mark Hogan;

  2. approved the Asset Management Agreement;

  3. approved the Arrangement, as well as all matters relating to the Arrangement;

  4. approved the Unit Option Plan;

  5. approved the Long Term Incentive Plan; and

  6. approved the unitholders' rights plan of the REIT.

The Corporation intends to close the REIT Prospectus Offering on or about March 27, 2014 and acquisition of the Initial REIT Properties on or about March 28, 2014. More specific details of the matters approved at the Meeting are set forth in a management information circular of the Corporation dated February 5, 2014 ("Information Circular") and posted on the System for Electronic Data Analysis and Retrieval (SEDAR) at www.sedar.com. Unless otherwise defined in this press release, all capitalized words and phrases in this press release shall have the meaning given to such capitalized terms in the Information Circular.

HHT Investments Inc.

The principal business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction. The Corporation has not commenced commercial operations and has no assets other than cash.

This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include the intention to complete the proposed transaction and the intention to reorganize the Corporation into a real estate investment trust. Accordingly, readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the Corporation.

Completion of the Arrangement is subject to a number of conditions, including but not limited to, TSXV acceptance and majority of the minority shareholder approval. Where applicable, the Arrangement cannot close until the required shareholder approval is obtained. There can be no assurance that the Arrangement will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Information Circular, any information released or received with respect to the Arrangement may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The TSXV has in no way passed upon the merits of the Arrangement and has neither approved nor disapproved the contents of this press release.

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

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