CALGARY, ALBERTA–(Marketwired – Aug. 26, 2016) – Edgefront Real Estate Investment Trust (the “REIT”) (TSX VENTURE:ED.UN) announced today the grant of options to officers and independent trustees of the REIT.
The REIT’s Board of Trustees has granted an aggregate of 800,000 unit options to the President and Chief Executive Officer, and Chief Financial Officer, as well as an aggregate of 525,000 unit options to the independent trustees of the REIT. The exercise price of these options has been set at $1.88 per unit, the closing price of the REIT’s units on the date of grant.
These options can be exercised until August 24, 2021 and will vest over a period of three years, one-third vesting on each of the first, second and third anniversaries of the date of grant. Each option allows its holder to subscribe to one unit of the REIT.
About the REIT
Edgefront REIT is a growth oriented real estate investment trust focused on increasing unitholder value through the acquisition, ownership and management of industrial properties located in primary and secondary markets in North America. The REIT currently owns a portfolio of 19 properties comprising approximately 1,030,000 square feet of rentable area. The REIT has approximately 35,512,209 units issued and outstanding. Additionally, there are 5,962,565 Class B LP units of subsidiary limited partnerships of the REIT issued and outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Kelly C. Hanczyk
President and CEO
Edgefront Real Estate Investment Trust