EDMONTON, ALBERTA – Imperial Equities Inc. (TSX-V:IEI) today has announced it has acquired a property in northwest Edmonton and will incorporate it into its Coppertone Industrial Common. The property formerly known as the Wolseley Waterworks Building will be renamed to Coppertone VIII. The acquisition was completed November 30th, 2016 at a transaction price of $2,050,000.00.
Located at 12212 – 152 Street, the property is in the heart of the coveted Mitchell Industrial area. The 7,100 ft2 building is situated on 1.84 acres of prime industrial land with excellent access to major thoroughfares in northwest Edmonton. The property is currently vacant and will be offered for lease and immediate possession.
Imperial’s management team believes that the current share price does not reflect the real value of the company. “Imperial Equities shares have been trading thinly and at values less than breakup, despite the fact that real estate prices are at an all time high. It is cheaper to buy the stock that holds the property than it is to buy the property” said Sine Chadi, President and CEO of Imperial Equities.
“The Coppertone VIII property will be a great addition to the existing lands and buildings in the immediate area that are owned and managed by Imperial. Our objective is to create an industrial area with modern and functional space to serve our large roster of tenant clients. The area is known as the Coppertone Industrial Common” said Sine Chadi, President and CEO of Imperial.
About Imperial Equities Inc.:
Imperial Equities Inc. Is based in Edmonton, Alberta. A diversified company anchored by commercial and industrial real estate properties in its targeted Edmonton and Alberta markets. Imperial also distributes pharmaceutical products to the institutional and retail customers through its wholly owned subsidiary, Imperial Distributors Canada Inc. Additional information is available at: www.imperialequities.com
Imperial’s common shares are listed on the TSX Venture Exchange under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
