C2C Industrial Properties Inc. announces completion of $22.0 million equity offering

    




 /NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR  DISSEMINATION IN THE UNITED STATES/ 

 TORONTO, July 31, 2012 /CNW/ - C2C Industrial Properties Inc. (the  "Company")  announced today that it had successfully  completed an offering of 4,835,200 common shares of the Company at a  price of $4.55 per common share on a private placement basis for gross  proceeds of $22,000,160 (the "Offering"). The net proceeds of the  Offering will be primarily used to reduce certain short term  indebtedness incurred with the previously completed portfolio  acquisition of seven multi-tenant light industrial properties and to  fund future acquisitions. 

 The offering was co-led by GMP Securities L.P. and Desjardins Securities  Inc. and the syndicate also included Macquarie Capital Markets Canada  Ltd. 

 The common shares issued under the Offering are subject to a four-month  hold period expiring December 1, 2012. 

 Certain insiders of the Company purchased an aggregate of 1,483,500  common shares under the Offering, representing 30.7% of the total  number of common shares issued under the Offering. Following the  completion of the Offering, these parties will collectively have  beneficial ownership of, or control or direction over, common shares of  the Company representing 25.9% of the total number of outstanding  shares of the Company post-Offering. 

 The participation of these insiders in the offering constitutes a  related party transaction under Canadian Multilateral Instrument 61-101  ("MI 61-101"), but is otherwise exempt from the formal valuation and  minority approval requirements of MI 61-101. 

 With the completion of this Offering, the Company has approximately 17.1  million common shares outstanding and a market capitalization of  approximately $82 million, based on the Offering price. 

 About C2C Industrial Properties Inc. C2C is a real estate investment corporation specializing in the  acquisition, ownership and operation of industrial properties across  Canada. C2C owns twenty-one industrial properties totalling  approximately 2 million square feet. More information about C2C   is available at www.sedar.com. 

 Forward Looking Statements This document contains forward-looking statements relating to C2C and  the industry in which it operates and its strategy, action plans and  investments, which may involve estimates, forecasts and projections.  These statements are not guarantees of future performance and involve  risks and uncertainties that are difficult to predict and/or are beyond  C2C's control.  Consequently, readers should not place any undue  reliance on such forward-looking statements. These forward-looking  statements are made as of the date of this press release. C2C is under  no obligation to update any forward-looking statements contained herein  should material facts change due to new information, future events or  other factors, unless otherwise required to do so by applicable law.  All forward-looking statements attributable to C2C are expressly  qualified by these cautionary statements. 

 The TSX Venture Exchange has neither approved nor disapproved the  contents of this press release. 

 Neither the TSX Venture Exchange nor its Regulation Services Provider  (as that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this press  release. 

  



C2C Industrial Properties Inc.


CONTACT:  C2C Industrial Properties Inc.Christopher Ross, President(416) [e-mail] 


    

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