Clark Wilson acted for Pure Multi-Family REIT LP (Pure) (TSXV: RUF.U, RUF.UN, RUF.DB.U; OTCQX: PMULF) in closing its public offering of 6,900,000 Class A units, inclusive of 900,000 Class A units issued pursuant to the exercise in full of the over-allotment option, on a bought deal basis, at a price of US$5.10 per Class A unit for total gross proceeds of US$35.2 million. James Speakman, Craig Rollins and Vikram Dhir led the Clark Wilson deal team. See Pure’s news release for more information.
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Our strata corporation has a painting that was provided by the developer as per the disclosure statement. We have had the painting appraised and found out it is worth $60,000. The strata council wants to sell it and use the money for future expenses of the strata corporation. Is this allowed?