Edgefront REIT announces completion of acquisition of properties and option grants

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CALGARY, July 16, 2014 /CNW/ - Edgefront Real Estate Investment Trust  (TSXV: ED.UN)  announced the completion of its previously announced acquisition (the "Acquisition") of three income producing industrial properties in Alberta controlled by TriWest Capital Partners through two of its portfolio companies, Triple M Housing Ltd. and Northern Mat & Bridge Limited Partnership on July 15, 2014.

In connection with the closing of the Acquisition and related public offering of $19.25 million units (the "Offering"), and consistent with the financial forecast disclosure set out in the prospectus related to the Offering, the board of trustees granted a total of 850,000 options to purchase units. The exercise price of the options has been set at $2.00 per unit, being the price per unit pursuant to Offering.

The board has granted an aggregate of 640,000 unit options to the President and Chief Executive Officer, and Chief Financial Officer, as well as an aggregate of 210,000 unit options to the Independent Trustees.  

These options can be exercised until July 16, 2019 and will vest over a period of three years, one-third vesting on each of the first, second and third anniversaries of the date of grant. Each option allows its holder to subscribe to one unit of the REIT.

About the REIT

Edgefront REIT is a growth oriented real estate investment trust focused on increasing unitholder value through the acquisition, ownership and management of industrial properties located in primary and secondary markets in North America, with an initial focus on Western Canada. Edgefront REIT currently owns a portfolio of 15 properties comprising approximately 750,000 square feet of rentable area.

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 in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Edgefront Real Estate Investment Trust

Please contact Kelly C. Hanczyk, President and CEO at [phone] or Rob Chiasson, CFO at [phone].