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BTB announces partial exercise of over-allotment option on bought deal

BTB announces partial exercise of over-allotment option on bought deal

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

Montreal, Québec (June 25, 2014): BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT”) is please to announce today the partial exercise of the over-allotment option from its previously announced public offering of 4,836,000 trust units (the “Units”) at a price of $4.55 per Unit representing gross proceeds of approximately $22 million, which closed on June 18, 2014. The syndicate of underwriters led by National Bank Financial Inc. and including Dundee Securities Ltd., Laurentian Bank Securities Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Euro Pacific Canada, Inc., Raymond James Ltd. and Desjardins Securities Inc. will exercise the over-allotment option and purchase 600,000 Units at a price of $4.55 per Unit for total net proceeds of $2,620,800, after deduction of the underwriters’ fee. The exercise of the over-allotment option will bring the aggregate gross proceeds of the offering to approximately $24.7 million. The closing of the over-allotment will occur on June 30, 2014.

The net proceeds from the sale of the Units under the over-allotment option will be used for general trust purposes. The Units (including the Units sold pursuant to the exercise of the over-allotment option) have been offered in all provinces of Canada by way of a short-form prospectus.

The Units have not been and will not be registered under the United States Securities Act of 1933, as amended and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to applicable exemptions from the registration requirements.

For more information, please contact:

BTB REAL ESTATE INVESTMENT TRUST
Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188 ext. 228