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Capital BLF at Record High After Announcing Property Acquisitions and Private Placement Equity Offering

Capital BLF Inc. (BLF.V)) is at a record high of 39 cents mid-morning, up 62.5%.

The company this week announced that it has entered into agreements to acquire three apartment properties in Quebec for $55 million.

In addition to the Acquisitions, the Corporation announced a number of strategic and structural initiatives, including:

- A proposed private placement of between $20 million and $25 million of common shares;

- Confirmation of QSSP II eligibility

- Amendments to the Corporation's management agreements

- Implementation of a dividend policy

- Initiation of a feasibility study in connection with a possible conversion into a real estate investment trust.

Volume traded is 34,400.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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