|By Marketwired .||
|April 1, 2013 07:58 PM EDT||
VICTORIA, BRITISH COLUMBIA -- (Marketwire) -- 04/01/13 -- IGW Public Limited Partnership ("IGW"), Suite 200-710 Redbrick Street, Victoria, BC V8T 5J3, announces that it has today acquired, for cash, 575,000 units ("Units") of Partners Real Estate Investment Trust ("Partners REIT") at a price per Unit of $8.50 from one seller, by private agreement.
Immediately following the purchase of the Units, IGW had beneficial ownership of, and control and direction over, directly or indirectly, approximately 14.7% of the issued and outstanding Units on an undiluted basis and approximately 10.7% on a fully diluted basis, assuming the full exercise of Partners REIT's outstanding convertible debentures and options. The acquisition of Units in Partners REIT by IGW is for investment purposes. IGW may from time to time dispose of, or acquire, additional units of Partners REIT.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which Partners REIT is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with Partners REIT's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting John Parkinson on behalf of IGW at 250-419-7165.
The Toronto Stock Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this press release.
IGW Public Limited Partnership
Chief Financial Officer