Emergia Inc. has entered into binding agreements to purchase a position (the "Interest") of approximately 31% of the total value of a portfolio comprised of six retail plazas in six cities in Ontario (the "Portfolio"). The Portfolio includes approximately 568,000 sq. ft.

of gross leasable area ("GLA") that is almost fully leased, with an additional development potential of approximately 196,000 sq. ft. of GLA, part of which are under negotiations for 2022.

The purchase price for the acquisition of the Interest in the Portfolio, done at arm's length, is approximately $40.69 million and is anticipated to be paid through a combination of cash, assumption of debt and the issuance to the vendors of up to approximately $10.14 million of class A common shares of the Corporation (the "Shares") at a price of $1.00 per Share. The closing is expected to take place on February 28, 2022, subject to customary conditions.