C.A. Bancorp Inc. (“C.A. Bancorp”) announces that it acquired 4,347,826 units of Charter Real Estate Investment Trust (“Charter REIT”) as part of a public offering by Charter REIT of 13,375,000 units at a price of $3.45 per unit (the “Offering”). 

Prior to the Offering, C.A. Bancorp held 1,496,000 units of Charter REIT, representing 52.4% of the outstanding units of Charter REIT. After giving effect to the acquisition, C.A. Bancorp holds 5,843,826 units of Charter REIT, representing 36.0% of the outstanding units of Charter REIT.

The acquisition was effected through an issuance from treasury. The units of Charter REIT were acquired for investment purposes. C.A. Bancorp, together with joint actors, may from time to time, depending on market and other conditions, increase its beneficial ownership, control or direction over the units or other securities of Charter REIT, through market transactions, private agreements, treasury issuances, acquisition and exercise of convertible securities, or otherwise.

An early warning report in respect of the above-noted transaction will be filed on SEDAR and will be available at www.sedar.com.

For further information, please contact:
Paolo De Luca, (416) 214-5985 ext. 510
The Exchange Tower
130 King Street West, Suite 2850,
Toronto, Ontario M5X lA4

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.