7254751 Manitoba Ltd (725) entered into an asset purchase agreement to acquire Nelson Ridge Estates at Fort McMurray, Alberta from Lanesborough Real Estate Investment Trust (TSXV:LRT.UN) for CAD 22 million on September 30, 2023. The purchase price for the beneficial interest of the property is CAD 22 million, which is to be settled by a deposit in the amount of CAD 20,000, the assumption of the first and second mortgage loans and related security in the approximate amount of CAD 22.2 million and an increase in the revolving loan in the approximate amount of CAD 0.23 million. The closing of the transaction is subject to the condition that 725 arranges new and restructured mortgage financing for its acquisition of the property on terms satisfactory to 725 and the final approval of the TSX Venture Exchange. It is anticipated that the transaction will close on or about May 1, 2024.

7254751 Manitoba Ltd (725) completed the acquisition of Nelson Ridge Estates at Fort McMurray, Alberta from Lanesborough Real Estate Investment Trust (TSXV:LRT.UN) on March 13, 2024. Pursuant to the terms of a purchase agreement, for aggregate consideration of CAD 22 million plus an increase in the line of credit from 2668921 Manitoba Ltd. (?266?), a sister company of 725, to LREIT in the approximate amount of CAD 22,754 less closing adjustments in the approximate amount of CAD 0.3 million, paid as follows: (i) a CAD 20,000 cash deposit paid to LREIT; (ii) through the assumption of the first mortgage on the Nelson Ridge Property by 725 in the net approximate amount of CAD 14 million; and (iii) CAD 7.6 million through the assumption of the second mortgage on the Nelson Ridge Property by 725.