Canadian Net Announces the Closing of Its Private Placement of Convertible Debentures

Core Viewpoint - Canadian Net Real Estate Investment Trust has successfully closed a non-brokered private placement of unsecured convertible debentures amounting to $4.0 million, aimed at supporting its growth and financial flexibility [1][2][5]. Group 1: Private Placement Details - The private placement involved the issuance of $4.0 million in principal amount of convertible debentures, which will mature on December 1, 2030, and bear an annual interest rate of 7.0% payable semi-annually [2]. - The convertible debentures are convertible into units of Canadian Net at a conversion price of $6.75 per unit, with the company having the right to redeem them after December 1, 2028, if certain market conditions are met [2][3]. Group 2: Use of Proceeds - The net proceeds from the private placement will be allocated for acquisitions, repayment of outstanding indebtedness, transaction costs, and general working capital purposes [4]. Group 3: Company Background - Canadian Net Real Estate Investment Trust is an open-ended trust focused on acquiring and owning high-quality triple net and management-free commercial real estate properties [6].