TORONTO,
April 8, 2015 /CNW/ - NorthWest
International Healthcare Properties Real Estate Investment Trust
(TSXV:MOB.UN) ("NWI") and NorthWest Healthcare Properties
Real Estate Investment Trust (TSX: NWH.UN) ("NWH") announced
today that the Alberta Court of
Queen's Bench (the "Court") has issued an interim order
authorizing, among other things, the holding of an annual and
special meeting of NWI voting unitholders at which such unitholders
will be asked to approve the previously-announced proposed plan of
arrangement under the Business Corporations Act
(Alberta) pursuant to which NWI
will combine with NWH to create a leading global diversified
healthcare real estate investment trust with over $2 billion of assets (the
"Transaction").
The NWH and NWI unitholder meetings to consider, and if deemed
advisable approve, the Transaction are scheduled to be held at the
offices of Goodmans LLP at 333 Bay Street, Suite 3400, Toronto, Ontario M5H 2S7 at 10:00 a.m. and 2:00
p.m. (Toronto time),
respectively, on May 5, 2015 (the
"Meetings"). The joint management information circular of
NWH and NWI, to be sent in connection with the Meetings, will
include details concerning the Transaction and the combined
entity.
NWH and NWI expect to begin mailing the joint information
circular and other meeting materials to their voting unitholders
today, at which time the documents will also be made available
under the NWH and NWI profiles on the SEDAR website at
www.sedar.com.
If the Transaction is approved by the NWH and NWI voting
unitholders at the Meetings, NWI will attend a hearing before the
Court scheduled for May 13, 2015 to
ask the Court to grant a final order in respect of the Transaction.
If the approvals of the NWH and NWI voting unitholders, the Court
and regulatory authorities are obtained, and the other conditions
to the completion of the Transaction are satisfied or waived, it is
expected that the Transaction will be completed in the second
quarter of 2015.
Further Information
NWH and NWI have retained Kingsdale Shareholder Services to
provide strategic advisory services and act as proxy solicitation
agent for the Transaction. Unitholders with questions should
contact Kingsdale at 1-877-659-1822 toll free in North America, or collect at 1-416-867-2272
outside of North America or by
email at contactus@kingsdaleshareholder.com.
About NorthWest International Healthcare Properties Real
Estate Investment Trust
NWI is an unincorporated, open-ended real estate investment
trust established under the laws of the Province of Ontario. Including its investment in NWH and
Vital Healthcare Property Trust, NWI holds interests in a portfolio
of 122 income-producing properties, representing an internationally
diversified portfolio of medical office buildings and healthcare
real estate, comprising approximately 6.6 million square feet of
gross leasable area located in Australia / New
Zealand, Brazil,
Canada and Germany.
About NorthWest Healthcare Properties Real Estate Investment
Trust
NWH is an unincorporated, open-ended real estate investment
trust established under the laws of the Province of Ontario. NWH holds a portfolio of 74
income-producing properties, with a focus on medical office
buildings and healthcare real estate, comprising approximately 4.6
million square feet of gross leasable area located in British Columbia, Alberta, Manitoba, Ontario, Québec, Nova Scotia and New Brunswick. For more
information on NWH, visit www.nwhp.ca.
Disclaimer
Certain statements contained in this news release constitute
forward-looking information within the meaning of applicable
securities laws. In some cases, forward-looking information can be
identified by such terms such as "may", "might", "will", "could",
"should", "would", "occur", "expect", "plan", "anticipate",
"believe", "intend", "estimate", "predict", "potential",
"continue", "likely", "schedule", or the negative thereof or other
similar expressions concerning matters that are not historical
facts. Some of the specific forward-looking statements in this news
release include, but are not limited to, statements with respect to
the expected completion of the Transaction and the conditions and
approvals required with respect thereto.
NWH and NWI have based these forward-looking statements on
factors and assumptions about future events and financial trends
that it believes may affect its financial condition, financial
performance, business strategy and financial needs, including, that
the arrangement Agreement will be not be amended; and all
conditions precedent to completing the Transaction will be met.
Although the forward-looking statements contained in this news
release are based upon assumptions that management of NWH and NWI
believe are reasonable based on information currently available to
management, there can be no assurance that actual results will be
consistent with these forward-looking statements. Forward-looking
statements necessarily involve known and unknown risks and
uncertainties, many of which are beyond NWH's and NWI's control,
including, among other things, the risks identified each of NWH's
and NWI's materials filed under their respective profiles at
www.sedar.com from time to time and the risk that the conditions to
the Transaction will not be satisfied. The forward-looking
statements made in this news release relate only to events or
information as of the date hereof. Except as required by applicable
Canadian law, each of NWH and NWI undertakes no obligation to
update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise, after
the date on which the statements are made or to reflect the
occurrence of unanticipated events.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE NorthWest International Healthcare Properties REIT