RioCan Real Estate Investment Trust (TSX:REI.UN) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 30,247,803 units, representing 9.97% of its outstanding Units. The bid will be funded from available cash and undrawn credit facilities.

All the units purchased under the bid will be cancelled or used to satisfy company's obligation to deliver units under company's Restricted Equity Unit Plan and/or Performance Equity unit plan. The bid will terminate on November 6, 2023 or such earlier time as company completes its purchases pursuant to the bid or provides notice of termination. As of October 31, 2022, The company has 303,413,346 outstanding Units.