MONTRÉAL, Dec. 01, 2025 (GLOBE NEWSWIRE) -- (TSXV:NET) Canadian Net Real Estate Investment Trust ("Canadian Net" or the "REIT") is pleased to announce the closing of a non-brokered private placement (the "Private Placement") of unsecured convertible debentures of Canadian Net (the "Convertible Debentures").
Under the Private Placement, the REIT issued $4.0 million in principal amount of Convertible Debentures. The Convertible Debentures will mature on December 1, 2030, bear an annual interest rate of 7.0% payable semi-annually, and are convertible into units of Canadian Net (the "Units") at a conversion price of $6.75 per Unit (the "Conversion Price"). Canadian Net will have the right to redeem the Convertible Debentures on or after December 1, 2028 if the closing price of the Units on the TSX Venture Exchange (the "TSX-V") is greater than the Conversion Price for a period of forty-five (45) consecutive trading days.
The Private Placement remains subject to receipt of all regulatory approvals, namely final approval of the TSX-V. The Convertible Debentures and the Units issuable upon conversion of the Convertible Debentures will be subject to a four-month hold period under applicable Canadian securities laws.
The net proceeds from the Private Placement will be used for acquisitions by Canadian Net and ...
