* Will issue to each of holders of its outstanding units right to subscribe for additional units of reit

* Unitholder in canada will be entitled to subscribe for 1 unit for every 3 rights held upon payment of $3.10/unit

* If all of rights are exercised, reit expects to raise net proceeds of $35.1 million

* Intends to use proceeds from rights offering to redeem certain outstanding debentures prior to maturity Source text for Eikon: Further company coverage: