TORONTO, July 16, 2020 (GLOBE NEWSWIRE) -- Skyline Investments Inc. (the “Company” or “Skyline”) (TASE: SKLN) respectfully announces the following:

Effective July 15, 2020, Mr. Gil Blutrich has resigned as a director of Skyline. Mr. Blutrich delivered a letter of resignation to the Company, which is outlined in further detail in an immediate release filed by the Company under Israeli law, a copy of which has been filed on SEDAR. The Company believes that the intentions behind the delivery of the letter, as well as its contents, stem from an improper purpose, and lacks factual and legal basis, and contains biased information and is therefore inappropriate.  There are ongoing legal proceedings between Mr. Blutrich and the Company in Canada, as well as legal proceedings in Israel between Mishorim against Mr. Blutrich and between Mr. Blutrich and the controlling shareholder of Mishorim, Mr. Alex Shnaider. 
           
About Skyline
Skyline is a Canadian company that specializes in hospitality real estate investments in the United States and Canada. The Company currently owns 18 income-producing assets with 3,301 hotel rooms and 89,869 square feet of commercial space, and development lands with rights for approximately 2,315 residential units located in three main areas north of Toronto, Canada.

The Company is traded on the Tel Aviv Stock Exchange (ticker: SKLN) and is a reporting issuer in Canada.

For more information:

Rob Waxman, CPA CA, CFA
Chief Financial Officer
robw@skylineinvestments.com
1 (647) 207-5312

Ben Novo-Shalem
VP, Asset Management & Investor Relations
benn@skylineinvestments.com
1 (416) 368-2565 ext. 2222


Source: Skyline Investments

2020 GlobeNewswire, Inc., source Press Releases