TORONTO, Feb. 06, 2020 (GLOBE NEWSWIRE) -- Skyline Investments Inc. (“Skyline” or the “Company”) (TASE: SKLN), is pleased to announce that on February 5, 2020 the Board of Directors approved a repurchase plan (the “Repurchase Plan”) for its Debentures Series (A) and (B) (the “Debentures”). Pursuant to the Repurchase Plan, during the one year period commencing February 5, 2020 and ending February 5, 2021, at any time and from time to time, the Company may repurchase Debentures Series (A) and (B) for up to a total consideration not exceeding NIS 10,000,000. Purchases will occur from time to time at various volumes at the discretion of the Company's management and/or the management of a corporation under its control, in accordance with market opportunities. Nothing in the Repurchase Plan shall oblige the Company to purchase these Debentures in any amount.

Skyline believes that the current market price of the Company's Debentures is attractive for purposes of the Repurchase Plan and provides a suitable business opportunity for the Company.

About Skyline

Skyline Investments is a Canadian company that specializes in hospitality real estate investments in Canada and the US. The Company owns 18 assets in Canada and the US with 3,297 hotel rooms under management spread over 18 cities, and development lands with rights for almost 2,315 residential units in three main areas north of Toronto, Canada.

The Company is traded on the Tel Aviv Stock Exchange (ticker: SKLN).

For more information:

Rob Waxman, Chief Financial Officer, CPA CA, CFA

416-368-2565 |robw@skylineinvestments.com

Ben Novo-Shalem, Vice President, Asset Management and Investor Relations

416-368-2565 / 2222 |benn@skylineinvestments.com

Source: Skyline Investments

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