C2C Industrial Properties Inc. announces completion of $22.0 million equity offering

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TORONTO, July 31, 2012 /CNW/ - C2C Industrial Properties Inc. (the "Company") (TSX-V: CCH) announced today that it had successfully completed an offering of 4,835,200 common shares of the Company at a price of $4.55 per common share on a private placement basis for gross proceeds of $22,000,160 (the "Offering"). The net proceeds of the Offering will be primarily used to reduce certain short term indebtedness incurred with the previously completed portfolio acquisition of seven multi-tenant light industrial properties and to fund future acquisitions.

The offering was co-led by GMP Securities L.P. and Desjardins Securities Inc. and the syndicate also included Macquarie Capital Markets Canada Ltd.

The common shares issued under the Offering are subject to a four-month hold period expiring December 1, 2012.

Certain insiders of the Company purchased an aggregate of 1,483,500 common shares under the Offering, representing 30.7% of the total number of common shares issued under the Offering. Following the completion of the Offering, these parties will collectively have beneficial ownership of, or control or direction over, common shares of the Company representing 25.9% of the total number of outstanding shares of the Company post-Offering.

The participation of these insiders in the offering constitutes a related party transaction under Canadian Multilateral Instrument 61-101 ("MI 61-101"), but is otherwise exempt from the formal valuation and minority approval requirements of MI 61-101.

With the completion of this Offering, the Company has approximately 17.1 million common shares outstanding and a market capitalization of approximately $82 million, based on the Offering price.

About C2C Industrial Properties Inc.
C2C is a real estate investment corporation specializing in the acquisition, ownership and operation of industrial properties across Canada. C2C owns twenty-one industrial properties totalling approximately 2 million square feet. More information about C2C (TSX-V:CCH) is available at www.sedar.com.

Forward Looking Statements
This document contains forward-looking statements relating to C2C and the industry in which it operates and its strategy, action plans and investments, which may involve estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond C2C's control.  Consequently, readers should not place any undue reliance on such forward-looking statements. These forward-looking statements are made as of the date of this press release. C2C is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors, unless otherwise required to do so by applicable law. All forward-looking statements attributable to C2C are expressly qualified by these cautionary statements.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: C2C Industrial Properties Inc.