7254751 Manitoba Ltd (725) entered into an asset purchase agreement to acquire Parsons Landing at Fort McMurray, Alberta from Lanesborough Real Estate Investment Trust (TSXV:LRT.UN) for CAD 22 million on October 5, 2023. As reported, the consideration is payable as CAD 20,000 cash deposit payable to Lanesborough Real Estate Investment Trust within 3 business days of the effective date of the agreement; CAD 35,276,388 through the assumption of the mortgage on the Parsons Landing property by 725; an increase in the line of credit from 2668921 Manitoba Ltd., a sister company of 725, to LREIT by CAD 13,296,388; andthe balance of the purchase price payable in cash on closing. 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 Parsons Landing at Fort McMurray, Alberta from Lanesborough Real Estate Investment Trust (TSXV:LRT.UN) on March 13, 2024