Tricon Capital Group Announces Closing of Bought Deal Offering

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TORONTO, Aug. 18, 2015 /CNW/ - Tricon Capital Group Inc. ("Tricon" or the "Company", TSX:TCN) today announced the completion of its previously announced bought deal offering (the "Offering"). A total of 13,158,000 common shares were sold at a price of C$11.40 per Common Share for aggregate gross proceeds of C$150 million.

The Offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters co-led by RBC Capital Markets and GMP Securities L.P. and including TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Raymond James Ltd., Canaccord Genuity Corp., CIBC World Markets Inc., Paradigm Capital Inc. and Scotiabank. As previously announced, the Company intends to use the net proceeds from the Offering to partially fund future equity requirements in each of the Company's business verticals, including the new Tricon Luxury Residences vertical, and for general corporate purposes, including the repayment of the outstanding balance under the Company's corporate revolving credit facility.

The Offering was completed by way of a short form prospectus filed in all of the provinces and territories of Canada pursuant to National Instrument 44-101 - Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

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.

Tricon is a principal investor and asset manager focused on the residential real estate industry in North America with approximately $2.5 billion (C$3.2 billion) of assets under management. Tricon owns, or manages on behalf of third-party investors, a portfolio of investments in land and homebuilding assets, single-family rental homes, manufactured housing communities, and multi-family development projects. Our business objective is to invest for investment income and capital appreciation through our Principal Investment business and to earn fee income through our Private Funds and Advisory business. Since its inception in 1988, Tricon has invested in real estate and development projects valued at approximately US$16 billion. More information about Tricon is available at www.triconcapital.com.

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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 the Company's growth, that involve risks and uncertainties. Forward-looking information and statements are based on management's 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 are described in the Company's continuous disclosure materials from time-to-time, as available on SEDAR at www.sedar.com. 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.

SOURCE Tricon Capital Group Inc.

Gary Berman, President & Chief Executive Officer, Tel: [phone], Email: [email protected]; Wissam Francis, Chief Financial Officer, Tel: [phone], Email: [email protected]