Toronto, Ontario--(Newsfile Corp. - May 27, 2026) - Ravelin Properties REIT (TSX: RPR.UN) (the "REIT") announces that the Ontario Superior Court of Justice (Commercial List) issued a final order today (the "Final Order") in connection with the previously announced plan of arrangement under the Canada Business Corporations Act (the "Arrangement"), pursuant to which Clarke Inc. will acquire all of the outstanding units of the REIT (the "REIT Units") and all of the REIT's outstanding 9.00% convertible unsecured subordinated debentures, 5.50% convertible unsecured subordinated debentures and 7.50% convertible unsecured subordinated debentures (collectively, the "REIT Debentures", and together with the REIT Units, the "REIT Securities"). The Final Order was the final substantive approval required prior to the closing of the Arrangement. It is anticipated that the Arrangement will be completed on or about May 29, 2026 (the "Effective Date"), subject to the satisfaction of customary closing conditions.
It is anticipated that the REIT Securities will be delisted from the Toronto Stock Exchange ("TSX") and that the REIT will apply to cease to be a reporting issuer in all jurisdictions in which it is a reporting issuer under Canadian securities laws, in each case shortly after completion of the Arrangement.
About Ravelin Properties REIT (TSX: RPR.UN)
The REIT owns and operates a portfolio of well-located commercial real estate assets in North America and Europe. The majority of the REIT's portfolio is comprised of government and high-quality credit tenants. Further information about the REIT is available on SEDAR+ at www.sedarplus.ca and www.ravelinreit.com.
Forward-Looking Statements
Certain statements contained in this news release contain "forward-looking information" within the meaning of applicable securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might", "have potential" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking information and statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to a variety of risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Forward-looking information and statements include, but are not limited to, information and statements regarding the timing and ability of the REIT to complete the Arrangement; the timing and ability of the REIT to satisfy the conditions precedent to completing the Arrangement; the anticipated Effective Date, the delisting of the REIT Securities from the TSX, the REIT ceasing to be a reporting issuer under Canadian securities laws, and other statements that are not historical fact.
Although the REIT believes that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of the REIT, and its management and board of trustees, as of the date hereof. The REIT cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within its control, and there is no assurance that they will prove correct. Consequently, there can be no assurance that the actual results or developments anticipated by the REIT will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, the REIT, the current holders of REIT Units and REIT Debentures, or the future results and performance of the REIT.
Readers, therefore, should not place undue reliance on any such forward-looking statements. There can be no assurance that the Arrangement will be completed or that it will be completed on the terms and conditions contemplated in this news release. The Arrangement could be modified or terminated in accordance with its terms. Further, the forward-looking information and statements in this news release are based on beliefs and opinions of the REIT at the time the statements are made, and there should be no expectation that these forward-looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and the REIT disavows and disclaims any obligation to do so except as required by applicable law. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of the REIT.
For Further Information
Investor Relations
Tel: +1 647 792 6060
Email: ir@ravelinreit.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299110
Source: Ravelin Properties REIT
