"Cervus' acquisition of these 14 agricultural and
construction equipment dealerships is accretive and congruent
with Cervus'
strategy to own the properties in which it operates," said
Peter Lacey, President and CEO of both Proventure and
Cervus.
The Asset Disposition is one of several in a series of
transactions previously announced on October 31, 2011 which,
from Proventure's perspective, are necessary in order for
Proventure to qualify for the REIT Exemption to the SIFT
Rules under the Income Tax Act (Canada).
Additional information regarding the Asset Disposition is
presented in the information circular of Proventure dated
December 21, 2011 (the "Information Circular") which is
available on SEDAR at www.sedar.com.
As described in further detail in the Information Circular,
the Assets which were sold by Proventure to Cervus included
properties located in: