TORONTO, June 9, 2022
/CNW/ - Flagship Communities Real Estate Investment Trust
(TSX: MHC.U) (OTCQX: FLGMF) (the "REIT") announced today the
introduction of a Canadian dollar listing of its trust units on the
Toronto Stock Exchange ("TSX").
Effective June 13, 2022, the trust
units will commence trading on the TSX in Canadian dollars under
the symbol "MHC.UN". The trust units will continue to trade in U.S.
dollars under the existing symbol "MHC.U".
The trust units to be traded under the symbol MHC.UN will have
the same CUSIP number as the trust units trading under the symbol
MHC.U. Accordingly, the number of issued and outstanding trust
units will not change. The REIT currently has 14,141,185 trust
units outstanding.
The REIT's distributions will continue to be paid to unitholders
in U.S. dollars for both the MHC.U and MHC.UN listings.
"We are pleased to introduce a Canadian dollar listing, which
will offer Canadian investors the ability to transact in their
domestic currency," said Kurt
Keeney, the REIT's President and Chief Executive Officer.
"We expect this new listing to provide more flexibility for
investors and facilitate increased trading activity in our trust
units over time."
Unitholders should consult their financial advisors for more
information regarding the dual currency listing, including their
ability to exchange U.S. dollar denominated trust units for
Canadian dollar denominated trust units.
About Flagship Communities
Real Estate Investment Trust
Flagship Communities Real Estate Investment Trust is an
internally managed, unincorporated, open-ended real estate
investment trust established pursuant to a declaration of trust
under the laws of the Province of Ontario. The REIT has been formed to own and
operate a portfolio of income-producing manufactured housing
communities located in Kentucky,
Indiana, Ohio, Tennessee, Missouri, Arkansas and Illinois; including a fleet of manufactured
homes for lease to residents of such housing communities.
Forward-Looking
Statements
This press release contains statements that include
forward-looking information within the meaning of Canadian
securities laws. These forward-looking statements reflect the
current expectations of the REIT regarding future events. In some
cases, forward-looking statements can be identified by terms such
as "may", "will", "could", "occur", "expect", "anticipate",
"believe", "intend", "estimate", "target", "project", "predict",
"forecast", "continue", or the negative thereof or other similar
expressions concerning matters that are not historical facts.
Material factors and assumptions used by management of the REIT to
develop the forward-looking information include, but are not
limited to, the REIT having sufficient cash to pay its
distributions. While management considers these assumptions to be
reasonable based on currently available information, they may prove
to be incorrect.
Although management believes the expectations reflected in such
forward-looking statements are reasonable and represent the REIT's
internal expectations and beliefs at this time, such statements
involve known and unknown risks and uncertainties and may not prove
to be accurate and certain objectives and strategic goals may not
be achieved. A variety of factors, many of which are beyond the
REIT's control, could cause actual results in future periods to
differ materially from current expectations of events or results
expressed or implied by such forward-looking statements, such as
the risks identified in the REIT's final prospectus available under
the REIT's profile at www.sedar.com, including under the heading
"Risk Factors" therein. Readers are cautioned against placing undue
reliance on forward-looking statements. Except as required by
applicable Canadian securities laws, the REIT 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.
SOURCE Flagship Communities Real Estate Investment Trust