MISSISSAUGA, ON--(Marketwired - January 11, 2017) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
(TSX VENTURE: MWI.UN) Maplewood International Real Estate Investment Trust (the "REIT") announced today that, further to the press release dated September 8, 2015 regarding the initiation of a value maximization process (the "Process"), the Board of Trustees (the "Board") has expanded the scope of the Process to consider additional strategic alternatives for the REIT including, but not limited to, a merger, reorganization, privatization, reverse takeover, or any other such alternative. Notwithstanding this expanded scope, the Board will continue to consider the sale of the REIT's investment property in the Netherlands and the return of capital to unitholders, as originally contemplated by the Process, and will also consider this in combination with any other strategic alternative under consideration. The Board's goal for the Process remains to implement a preferred course of action that will achieve the maximum value and liquidity for unitholders.
Unitholders are cautioned that there can be no assurance regarding the terms or timing of any proposed transaction. The REIT does not intend to disclose any further developments with respect to the Process until a definitive agreement is executed in connection with any proposed transaction, or at such time as the Board otherwise determines that disclosure is necessary or appropriate.
About Maplewood International REIT
The REIT is a Canadian based growth-oriented international real estate investment trust, established to invest in high-quality income producing commercial real estate outside of Canada. The REIT's geographic focus is on the investment grade countries of Europe, with an initial target market of the Netherlands.
This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT's control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, global and local economic and business conditions; the financial condition of tenants; our ability to refinance maturing debt; leasing risks, including those associated with the ability to lease vacant space; and interest rate and currency rate fluctuations. Our objectives and forward-looking statements are based on certain assumptions, including that the Canadian and Dutch economies remain stable, interest rates remain stable, conditions within the real estate market remain consistent, competition for acquisitions remains consistent with the current climate, and that the capital markets continue to provide ready access to equity and/or debt. All forward-looking information in this press release speaks as of the date of this press release. The REIT does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise. Additional information about these assumptions and risks and uncertainties is contained in the REIT's filings with securities regulators, which have been filed on SEDAR and can be viewed at www.sedar.com under the REIT's profile, or on the REIT's website at www.maplewoodreit.com.
The TSXV has neither approved nor disapproved the contents of this press release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined under the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.