UPDATE 1-RioCan REIT to raise C$100 mln through units offering

* Public issue price at 6 pct discount to Monday close

* To sell about 6.9 mln units at C$14.50/unit

* To use proceeds for improving liquidity, acquisitions

June 1 (Reuters) - Canada's RioCan Real Estate Investment Trust (REI_u.TO) said it plans to sell about 6.9 million shares for gross proceeds of nearly C$100 million ($92.25 million).

The sale price of C$14.50 per unit represents a 6 percent discount to the units' Monday close of C$15.46 on the Toronto Stock Exchange.

RioCan said it reached an agreement with a syndicate of underwriters co-led by RBC Capital Markets, BMO Capital Markets and TD Securities Inc for the public issue.

The company also granted the underwriters an option to purchase an additional 1.7 million units.

RioCan said it will use the proceeds to provide additional financial flexibility, to fund development activities and future property acquisitions and for general trust purposes.

The offering is expected to close on or about June 10, it said. ($1=1.084 Canadian Dollar) (Reporting by Ashutosh Joshi in Bangalore; Editing by Vinu Pilakkott)