Pine Trail Real Estate Investment Trust 

Pine Trail Real Estate Investment Trust was formed by a Declaration of Trust. The acquisition of the property was funded using available cash on hand and net proceeds from the non-brokered private placement on November 6, 2018. The Acquisition constitutes the Trust's Qualifying Transaction (as such term is defined by the policies of the TSXV) and, as such, the Trust is no longer a CPC. The Declaration of Trust was amended on November 9, 2018, and restated upon completion of the Qualifying Transaction and Pine Trail Capital Trust was renamed to Pine Trail Real Estate Investment Trust. The Trust units are listed on the TSX Venture Exchange. The head office of Pine Trail Real Estate Investment Trust is located at 161 Bay Street, 27th Floor, in the City of Toronto in the Province of Ontario. Pine Trail Real Estate Investment Trust was founded in 22nd December, 2017.