Tricon Capital Group Inc.

Tricon Capital Group Inc.

November 14, 2012 08:04 ET

Tricon Announces $55,005,000 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwire - Nov. 14, 2012) -


Tricon Capital Group Inc. ("Tricon" or the "Company") (TSX:TCN) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by GMP Securities L.P. and RBC Capital Markets and including Canaccord Genuity Corp., CIBC World Markets Inc., National Bank Financial Inc., Raymond James Ltd., and Fraser Mackenzie Ltd. (collectively, the "Underwriters"), which have agreed to purchase, on a bought deal basis, 9,650,000 common shares (the "Common Shares") of Tricon at a price of $5.70 per Common Share, for aggregate gross proceeds of $55,005,000. The Underwriters will also have the option, exercisable in whole or in part at any time on or up to 30 days after the closing of the offering, to purchase, first (up to a maximum of 650,000 Common Shares) from Geoff Matus, a co-founder of Tricon, and then from Tricon, up to an additional 797,500 Common Shares to cover over-allotments, if any, and for market stabilization purposes. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering will be $63,255,750.

Tricon intends to use the net proceeds from the offering to fund continued expansion of its U.S. single-family home rental market strategy, and for general corporate and working capital purposes.

The offering is scheduled to close on or about December 4, 2012 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

A preliminary short form prospectus will be filed with securities regulatory authorities in all provinces and territories of Canada. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

About Tricon Capital Group Inc.

Founded in 1988, Tricon is one of North America's leading residential real estate investment companies with approximately $1.1 billion of assets under management. Tricon provides financing to local operators or developers in select markets in the United States and Canada, with a primary focus on for-sale housing in growing markets. Since inception, Tricon has invested in approximately 150 transactions for development projects valued at more than $10 billion. More information about Tricon is available at

Forward-looking statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results and projections of the Company, including statements regarding future plans, objectives or economic performance that involve risks and uncertainties. Forward-looking information and statements are based on management's current expectations, intentions and assumptions. If unknown risks arise, or if any of the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from management expectations as projected in such forward-looking statements. Examples of such risks include, but are not limited to, the risks disclosed in the Company's final long form prospectus dated May 14, 2010, the risks disclosed in the Company's final short form prospectus dated July 23, 2012 and the risks described in the Company's continuous disclosure materials from time-to-time, as available on SEDAR at The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

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