In This Article:
MISSISSAUGA, ON, April 1, 2025 /CNW/ - Morguard Corporation ("Morguard") (TSX: MRC) announced that it acquired 1,307,418 trust units (the "Units") of Morguard Real Estate Investment Trust (the "REIT") (TSX: MRT.UN), through the facilities of the Toronto Stock Exchange and alternative Canadian trading systems (collectively, the "TSX") and through its participation in the REIT's distribution reinvestment plan (the "DRIP"), as follows:
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Between October 11, 2024 and March 31, 2025, Morguard acquired 1,307,418 Units through the TSX and the DRIP for the consideration of $7,247,954.16.
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Between February 14, 2025 and March 31, 2025 Morguard acquired 299,218 Units through the REIT's DRIP representing an aggregate issue price of $1,662,268.66:
The total Units (1,307,418) acquired by Morguard represent approximately 2.02% of the outstanding Units (all securityholding percentages are based on the issued and outstanding Units as of March 31, 2025 and were acquired at an average weighted price per Unit of approximately $5.54.
Prior to the acquisitions, Morguard (together with Paros Enterprises Limited and K. Rai Sahi) owned 51,866,595 Units (including Units issuable upon conversion of the convertible debentures of the REIT) representing 80.72% of the outstanding Units. Following the acquisitions, Morguard (together with Paros Enterprises Limited and K. Rai Sahi) owns 53,174,013 Units (including Units issuable upon conversion of the convertible debentures of the REIT), representing 82.30% of the outstanding Units.
The Units were acquired for investment purposes. Morguard and its affiliates may, from time to time, depending on market and other conditions or relevant factors, increase or decrease its beneficial ownership, control or direction over securities of the REIT through market transactions, private agreements or otherwise.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under the REIT's profile on SEDAR+ (www.sedarplus.ca) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Beverley Flynn at Morguard Corporation, 55 City Centre Drive, Suite 1000, Mississauga, Ontario L5B 1M3.
About Morguard Real Estate Investment Trust
The REIT is a closed-end real estate investment trust, which owns a diversified portfolio of 45 high quality retail, office and industrial income producing properties in Canada consisting of approximately 8.1 million square feet of leaseable space.