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Exchange Bulletin

Pure Multi-Family REIT LP (RUF.UN, RUF.U, RUF.D) To Trade On Toronto Stock Exchange


April 25, 2019

Issuer: Pure Multi-Family REIT LP

Issuer: Pure Multi-Family REIT LP (the "REIT")
UNITS
Security: Class A units (the "Units")
Symbols: RUF.UN, RUF.U
Number of securities issued and outstanding: 76,736,671
Number of securities reserved for issuance: 9,099,691
Trading currency: CDN$ for RUF.UN and US$ for RUF.U
Temporary market maker: JitneyTrade Inc.
Listing date: April 29, 2019 (at the opening)
Posted for trading date: April 29, 2019 (at the opening)
DEBENTURES
Security: 6.5% Convertible Unsecured Subordinated Debentures (the "Debentures")
Symbol: RUF.DB.U
Principal amount: $22,741,000
Trading currency: US$
Trading rules: The Debentures will be quoted and traded on Toronto Stock Exchange ("TSX") in US funds and trading information regarding these Debentures will appear under the heading "Trading in US Funds" in the TSX Daily Record and the TSX Monthly Review. The Debentures will be quoted and traded on an accrued interest basis, i.e. all bids, offers and trades of the Debentures will reflect only the capital portion of the Debentures and will not reflect accrued interest. Accrued interest must be reflected in the seller's and buyer's settlement amount, and must be reflected on the confirmation with clients. The Debentures, which are issuable in the minimum principal amount of US$1,000 each, will be quoted based on US$100 principal amounts with all trades being made in multiples of US$1,000. The minimum trading unit of Debentures is US$1,000 and a board lot of Debentures is US$1,000.
Maturity Date: September 30, 2020
Interest rate: 6.5% per annum. Interest will be computed on the basis of a 365-day year.
Interest payment dates: Semi-annually in arrears on March 31 and September 30 in each year.
Next interest payment date: September 30, 2019
Listing date: April 29, 2019 (at the opening)
Posted for trading date: April 29, 2019 (at the opening)
Conversion: At the option of the holder into Units (Symbols: RUF.UN and RUF.U), at any time prior to the earlier of the maturity date of the Debentures and the business day immediately preceding the date fixed for redemption of the Debentures. The conversion price is US$5.65 per Unit, being a conversion rate of approximately 176.9912 Units for each US$1,000 principal amount of Debentures.
OTHER INFORMATION
Listing Category: Industrial, Exempt
Other market(s): The Units have been listed and trading on TSX Venture Exchange since July 10, 2012. The Debentures have been listed and trading on TSX Venture Exchange since August 7, 2013. The Units and Debentures will be delisted from TSX Venture Exchange on April 29, 2019, upon commencement of trading on Toronto Stock Exchange. Upon listing on Toronto Stock Exchange, the Units (in CDN$ and US$) and Debentures will be traded under the symbols RUF.UN, RUF.U and RUF.DB.U, respectively.
Security ownership registration: Units - Non-certificated Inventory Debentures – Non-certificated inventory
Investor Relations Andrew Greig Vice President, Investor Relations (604) 449-5286 Email: agreig@puremultifamily.com
Incorporation: The REIT is a limited partnership established under the Limited Partnerships Act (Ontario) on May 8, 2012.
Fiscal year end: Dec 31
Nature of business The REIT indirectly acquires and holds high quality multi-family real estate properties in major markets in the United States.
Transfer agent and registrar: Units - Computershare Investor Services Inc. at its principle offices in Vancouver Debentures – Computershare Trust Company of Canada at its principle offices in Toronto or Vancouver
Normal Course Issuer Bid: Through the facilities of TSX or alternative Canadian trading systems up to 1,500,000 Units during the period commencing April 29, 2019 to November 19, 2019, representing approximately 2% of the REIT's issued and outstanding Units (no Units have been purchased to date on TSX Venture Exchange).
Dividends: The REIT intends to make monthly cash distributions of US$0.03125 per Unit. The REIT has declared a distribution of US$0.03125 per Unit payable on May 15, 2019 to unitholders of record on April 30, 2019. The Units (in CDN$ and US$) will commence trading on Toronto Stock Exchange on an ex-distribution basis at the opening on April 29, 2019. Please see TSX Venture Exchange bulletin dated April 17, 2019.
Sponsorship: Not applicable
Disclosure document: Annual Information Form dated April 12, 2019 which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the disclosure document.
Additional information: Trust indenture dated August 7, 2013 between the REIT and Computershare Trust Company of Canada with respect to the Debentures. The Units trading under the symbol RUF.U will be quoted and traded on Toronto Stock Exchange in US funds and trading information regarding such Units will appear under the heading "Trading in US Funds" in the TSX Monthly Review.
TSX contact: Chris Birkett, Director, Toronto Stock Exchange