/NOT FOR DISTRIBUTION TO
This news release constitutes a "designated news release" for the purposes of the REIT's prospectus supplement dated
Pursuant to the NCIB notice filed with the TSX, the REIT intends to acquire up to a maximum of 3,186,336 of its Units, or approximately 10% of its public float as of
Purchases under the renewed NCIB will be made through the facilities of the TSX and/or through alternative Canadian trading systems and in accordance with applicable regulatory requirements at a price per Unit representative of the market price at the time of acquisition. The number of Units that can be purchased pursuant to the renewed NCIB is subject to a current daily maximum of 11,256 (which is equal to 25% of 45,025, being the average daily trading volume from
Under its current NCIB, which expires on
Pursuant to the renewed NCIB, the REIT may begin to purchase Units on
The REIT has adopted an automatic securities purchase plan in connection with its renewed NCIB that contains strict parameters regarding how its Units may be repurchased during times when it would ordinarily not be permitted to purchase Units due to regulatory restrictions or self-imposed blackout periods.
ABOUT
Additional information about the REIT is available at www.bsrreit.com or www.sedar.com.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects the REIT's current expectations regarding future events, including statements about the number of Units to be acquired under the renewed NCIB and related matters. In some cases forward-looking information can be identified by such terms as "will", "may", "would" and "expected". Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. The REIT's estimates, beliefs and assumptions, which may prove to be incorrect, include those relating to future events and financial trends that it believes may affect its financial condition, financial performance, business strategy and financial needs. Although the forward-looking statements contained in this news release are based upon assumptions that management of the REIT 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. The risks and uncertainties that may impact such forward-looking information include, but are not limited to the factors discussed under "Risk Factors" in the REIT's annual information form dated March 8, 2023 and other disclosure documents available on SEDAR (www.sedar.com). There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. The REIT does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. This forward-looking information speaks only as of the date of this news release.
SOURCE
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