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BTB Real Estate Investment Trust announces closing of $25,000,000 issue of convertible debentures

BTB Real Estate Investment Trust announces closing of $25,000,000 issue of convertible debentures

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Montreal, Québec (December 4, 2015): BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB“) is pleased to announce today that is has closed its previously announced public offering of $25,000,000 aggregate principal amount of Series F 7.15% Convertible Unsecured Subordinated Debentures (the “Debentures“). The Debentures were sold to a syndicate of underwriters led by National Bank Financial Inc. and including Dundee Securities Ltd., Laurentian Bank Securities Inc., Raymond James Ltd., TD Securities Inc., Euro Pacific Canada Inc., GMP Securities L.P. and Scotia Capital Inc. for total net proceeds to BTB of approximately $23,612,000, after deducting the underwriters’ fee and the estimated expenses of the offering.

The Debentures have been offered in all provinces of Canada by way of a short-form prospectus.

The Debentures will be traded on the Toronto Stock Exchange under the symbol BTB.DB.F.

The Debentures and the underlying units have not been and will not be registered under the United States Securities Act of 1933 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 further information, please contact:

Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188, ext. 228
Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230