Holloway Lodging Corporation entered into an agreement to acquire Real Estate Development Project located at 1111 Atwater Avenue, Downtown Montreal for CAD 21 million on April 22, 2021. Clarke acquired the interest of one of the former co-investors, and became a co-investor with the two remaining parties, Claridge MCH Limited Partnership, and EMD-Batimo Inc. The terms included cash consideration of approximately CAD 12 million and the assumption of the Company's proportionate share of the construction financing of approximately CAD 16 million. The cash consideration was funded with cash on hand. In connection with the transaction, Holloway entered into a co-owners' agreement that governs the rights and obligations of Holloway, Claridge and Batimo with respect to the project.