/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, April 18, 2012 /PRNewswire/ - Tricon Capital
Group Inc. ("Tricon") today advises that its
previously-announced bought deal financing, whereby a syndicate of
underwriters co-led by GMP Securities L.P. and RBC Capital Markets,
and including Canaccord Genuity Corp. (collectively, the
"Underwriters"), have agreed to purchase, on a bought deal
basis, 11,250,000 common shares (the "Common Shares") of the
Company at a price of $4.00 per
Common Share, for aggregate gross proceeds of $45,000,000, is expected to close on or about
April 25, 2012 instead of
April 18, 2012, as originally
anticipated.
Tricon continues to work with the Ontario
Securities Commission to refine the disclosure in the final
prospectus relating to Tricon's U.S. single-family home rental
strategy, which is intended to be the primary use of the net
proceeds from the offering. The anticipated April 25, 2012 closing date remains subject to
certain closing conditions, including, but not limited to, the
receipt of all necessary approvals including the approval of the
TSX and the securities regulatory authorities
The Underwriters 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 up to an additional
1,687,500 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 $51,750,000.
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 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 roughly $10 billion. More
information about Tricon is available at www.triconcapital.com.
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 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.