Marwest Apartment REIT Announces Appointment of Additional Trustee

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

WINNIPEG, MB, Aug. 25, 2021 /CNW/ - Marwest Apartment Real Estate Investment Trust ("Marwest Apartment REIT" or the "REIT") (TSXV: MAR.UN) is pleased to announce the appointment of Mr. James Green to the Board of Trustees.

Mr. Green was appointed to the Board of Trustees effective today.

Prior to joining the Board of Trustees of the REIT, Mr. Green, CPA, CA, served as Chief Financial Officer at Artis Real Estate Investment Trust from its inception in 2004 until 2021, where he was responsible for financial reporting, internal controls, pension plan and direct tax functions.

With Mr. Green's appointment, the REIT's current Board of Trustees is comprised of Mr. Luke Cain (Chair of the Board of Trustee), Mr. Jason Pellaers and Mr. James Green, each of whom is "independent" within the meaning of National Instrument 58-101 – Disclosure of Corporate Governance Practices, as well as Mr. William Martens and Mr. Cornelius Martens.  The Audit Committee has also been reconstituted effective today and is comprised of Mr. Pellaers (chair), Mr. Cain and Mr. Green.

Mr. Luke Cain, Chair of the Board of Trustees, commented "We are extremely pleased to add Mr. Green to the board.  He brings decades of commercial real estate experience at the executive level and is well versed in the capital markets. He will be an invaluable addition to Marwest Apartment REIT."

About Marwest Apartment REIT

The REIT is an unincorporated open-ended trust governed by the laws of the Province of Manitoba. The REIT was formed to provide Unitholders with the opportunity to invest in the Canadian multi-family rental sector through the ownership of high-quality income-producing properties, with an initial focus on stable markets throughout Western Canada.

Forward-looking Statements 

The information in this news release includes certain information and statements about management's views of future events, expectations, plans and prospects that constitute forward– looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties.  Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward–looking statements. Forward–looking statements in this news release include, but are not limited to, the implementation of a cash distribution policy.  A number of factors could cause actual results to differ materially from these forward–looking statements.  The payment of cash distributions will be dependent upon a number of factors, including but not limited to the financial performance, financial condition and financial requirements of the REIT.  Although management of the REIT believes that the expectations reflected in forward– looking statements are reasonable, it can give no assurances that the expectations of any forward– looking statements will prove to be correct. Except as required by law, the REIT disclaims any intention and assumes no obligation to update or revise any forward–looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward–looking statements or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

The Trust Units are not registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of the REIT in the United States or in any other jurisdiction.

SOURCE Marwest Apartment Real Estate Investment Trust

For further information, please contact Mr. William Martens, Chief Executive Officer, Telephone: [phone]