Cominar Announces Offering of $150 Million of Series 13 Senior Unsecured Debentures Due December 18, 2027

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

MONTREAL, Dec. 6, 2024 /CNW/ - Cominar Real Estate Investment Trust ("Cominar" or the "REIT") announced today an offering of $150 million principal amount of 7.80% Series 13 senior unsecured debentures (the "Series 13 Debentures"). The offering of the Series 13 Debentures is expected to close on or about December 18, 2024. The Series 13 Debentures will be issued at a price of $1,000 per $1,000 principal amount of Series 13 Debentures, bear interest at a rate equal to 7.80% payable semi-annually in arrears, and will mature on December 18, 2027 (the "Offering").

The Series 13 Debentures will be offered by way of private placement in Canada, pursuant to an agency agreement with Desjardins Securities Inc. as sole lead agent.

Cominar intends to use the net proceeds of the offering together with available liquidities for the redemption in full of its Series 12 senior unsecured debentures due May 5, 2025.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful.

The Series 13 Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended, and accordingly will not be offered, sold or delivered, directly or indirectly, within the United States, its territories, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of, a U.S. person, except pursuant to applicable exemptions from the registration requirements.

ABOUT COMINAR

Founded in 1965, Cominar is one of the most important real estate owners and managers in Quebec. Driven by our values and expertise, our mission is to create modern, distinctive living environments across our portfolio of office, retail and mixed-use properties. With assets that have high densification potential and are strategically located near major transit routes, our ambition is to build forward-looking communities that will reshape the urban landscape and positively impact the development of the communities in which we operate. Our proximity-driven philosophy guides our daily actions and allows us to make our properties enticing and inviting destinations. www.cominar.com.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements with respect to Cominar and its operations, strategy, financial performance and financial position. These statements generally can be identified by the use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intend", "believe" or "continue" or the negative thereof or similar variations and the use of conditional and future tenses. The actual results and performance of Cominar discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, the successful closing of the Offering, the timing of closing of the Offering, the use of proceeds from the Offering, the redemption of the Series 12 debentures and the general economic and market factors, competition, changes in government regulation and the factors described under "Risk Factors" in Cominar's Annual Information Form. The cautionary statements qualify all forward-looking statements attributable to Cominar and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release. Cominar does not assume any obligation to update the a forementioned forward-looking statements, except as required by applicable laws.

SOURCE Cominar Real Estate Investment Trust

Further Information: Michael Albanese, Director, Investments, [email protected]