TORONTO–(BUSINESS WIRE)–Starlight Investments Capital LP (“Starlight Capital” or the “Investment
Manager”) is pleased to announce that Starlight Hybrid Global Real
Assets Trust (the “Trust”) (NEO: SCHG.UN) has finalized the pricing for
its up to $20,000,000 non-brokered private placement (the “Offering”),
as announced on May 6, 2019. The Offering issue price per Series C Unit
of the Trust has been determined to be $10.28.
Subject to customary closing conditions, including the approval of the
Aequitas NEO Exchange Inc., the Offering is expected to close on or
about June 28, 2019. The securities issued in connection with the
Offering will be subject to a four month hold period, in accordance with
applicable securities laws.
The net proceeds of the Offering will be used to purchase securities for
the Trust’s portfolio in accordance with the Trust’s investment
objectives and investment strategy and for general operating purposes.
The Trust also announced that Daniel Drimmer will step down from the
board of trustees effective June 28, 2019. Mr. Drimmer resigned in order
to proactively manage the number of public company directorships that he
holds in accordance with the guidance provided by the Institutional
Shareholder Services and Canadian Coalition for Good Governance. Mr.
Drimmer will serve as a special advisor to the Trust and he will also
remain on the board of directors of the Manager and Investment Manager
of the Trust.
In accordance with the Trust’s Amended and Restated Declaration of Trust
dated December 13, 2018, the remaining trustees of the Trust have
appointed Glen Hirsh as a trustee to fill the vacancy created by Mr.
Drimmer’s resignation, with a term of office to expire upon the
termination of the Trust.
Mr. Hirsh is the Chief Operating Officer of Starlight Investments. Mr.
Hirsh most recently held the position of Vice-President, Strategy and
Finance at Oxford Properties and previously was Managing Director and
Head of the Real Estate Investment Banking Group at National Bank
Financial. Mr. Hirsh has 20 years of experience in the real estate and
financial services sectors and is recognized as a leader in providing
strategic advice to public and private companies, structuring capital
markets transactions and executing equity and debt financings. Mr. Hirsh
is a Chartered Professional Accountant and holds the Chartered Financial
Analyst designation and a Bachelor of Commerce degree from McGill
University.
About Starlight Capital and Starlight Investments
Starlight Capital is an independent asset management firm offering
mutual funds, exchange-traded funds and structured products. Our goal is
to deliver superior risk adjusted returns to investors through a
disciplined investment approach, Focused Business Investing. Starlight
Capital is a wholly-owned subsidiary of Starlight Investments. Starlight
Investments is a privately-held, full service, real estate investment
and asset management company. The firm manages over $11.0 billion of
assets on behalf of institutional joint ventures as well as publicly
listed REITs, closed end funds and investment funds and is driven by an
experienced team of over 200 professionals. Please visit us at www.starlightcapital.com
and connect with us on LinkedIn.
This press release is not an offer of securities for sale in the
United States, and the securities described in this press release may
not be offered or sold in the United States absent registration or an
exemption from registration. The securities have not been and will not
be registered under the United States Securities Act of 1933. The
Aequitas NEO Exchange does not accept responsibility for the adequacy or
accuracy of this release.
Forward-Looking Information
This press release contains “forward-looking information” within the
meaning of applicable Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “scheduled”, “intends”, “anticipates” or “does
not anticipate”, or “believes”, or variations of such words and phrases
or statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will” occur or be achieved. Forward-looking
information includes, without limitation, statements with respect to the
completion of the proposed Offering.
By its nature, forward-looking information is subject to inherent
risks and uncertainties that may be general or specific and which give
rise to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals and
priorities will not be achieved. Known and unknown risk factors, many of
which are beyond the control of the Trust could cause actual results to
differ materially from the forward-looking information in this press
release. Accordingly, readers should not place undue reliance on
forward-looking information. The Trust does not undertake to update or
revise any forward-looking information, except in accordance with
applicable securities laws.
Contacts
Dennis Mitchell
Chief Executive Officer &
Chief
Investment Officer
416-855-2642
[email protected]
Lou Russo
Senior Vice President, National Sales &
Distribution
416-565-1619
[email protected]
