Real Property Development & Income Balanced Offering (2008-1)
Toronto, Ontario - September 15, 2008
ONE Financial Corporation ("ONE Financial") is pleased to announce that an amended and restated preliminary prospectus (the "preliminary prospectus") has been filed with, and a receipt therefor issued by, the securities regulators in each of the provinces and territories across Canada for the initial public offering of the ONE Financial Real Property Development & Income Balanced Offering (2008-1) (the "Offering"), consisting of one unit of the ONE Financial Real Property Development Trust (2008-1) (the "Development Trust") and one unit of the ONE Financial Real Property Income Fund (2008-1) (the "Income Fund") (together a "Combined Unit"). The offering price is $25.00 per Combined Unit, consisting of $15.00 per Development Trust Unit and $10.00 per Income Fund Unit, and the minimum purchase quantity is 100 units ($2,500). Subsequent to the closing of the Offering, the Development Trust and the Income Fund (together the "Issuers") will purchase securities of the ONE Financial Real Property Development & Income Balanced L.P. (2008-1) ("ONE Financial LP") and ONE Financial LP will engage in the business of acquiring, developing or improving, operating, and where appropriate, selling a diversified portfolio of high quality income producing commercial and residential real estate properties in primarily urban Canadian markets.
ONE Financial Corporation is the promoter and ONE Financial LP will engage ONE Financial Global Real Estate Advisors Inc. to be the Manager with the responsibility of identifying and executing ONE Financial LP's investment and development activities.
Units of both the Development Trust and Income Fund are intended to qualify as mutual fund trusts under the Income Tax Act (Canada) and as such will be qualified investments under the Income Tax Act (Canada) for registered retirement savings plans (RRSPs), Registered Retirement Income Funds (RRIFs), Registered Educational Savings Plans (RESPs), and Deferred Profit-Sharing Plans (DPSPs).
The offering is being made through a syndicate of investment dealers that is led by Research Capital Corporation and includes Canaccord Capital Inc., Raymond James, Blackmont Capital Inc., Laurentian Bank, IPC Securities, Industrial Alliance, Burgeonvest Securities Ltd., MGI Securities and Integral Wealth Management Inc. For more information please contact your syndication desk, or contact the Issuers directly at 1.866.360.7888.
A preliminary prospectus dated September 12, 2008 containing important information relating to these securities has been filed with securities commissions or similar authorities in each province and territory of Canada, and investors should obtain and read carefully a copy of the preliminary prospectus prior to investing. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from the Issuers or at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.