QLT Inc closes real estate transaction

Sep 03, 2008 (M2 EQUITYBITES via COMTEX) -- QLTI | Quote | Chart | News | PowerRating -- Biopharmaceutical company QLT Inc (NASDAQ: QLTI | Quote | Chart | News | PowerRating) (TSX: QLT | Quote | Chart | News | PowerRating) reported on 2 September the sale of the land and building comprising its corporate headquarters and the adjacent undeveloped plot of land in Vancouver, British Columbia to Discovery Parks Holdings Ltd, in its capacity as trustee of Discovery Parks Trust and Discovery Parks Trust 2 (Discovery Parks), for CAD65.5m.

In conjunction with the sale, QLT Inc has signed a lease with Discovery Parks for a term of five years for approximately 30% of the facility, as well as a two-year 6.5% interest-only second mortgage vendor financing in the amount of CAD12m.

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