R&R REIT Announces Appointment of New Trustees

MISSISSAUGA, ON, Feb. 26, 2021 /CNW/ - R&R Real Estate Investment Trust (the "REIT") (TSXV: RRR.UN) is pleased to announce the appointment of Geoffrey Morphy and Louise Dermott to the Board of Trustees of the REIT. Each of Mr. Morphy and Ms. Dermott will hold office as trustees until the next annual meeting of unitholders of the REIT or until a successor is appointed.

"On behalf of the Board of Trustees, the REIT's management team and all of the REIT unitholders, I want to welcome Geoffrey and Louise to R&R REIT. We are excited to have both of them join the Board," said Majid Mangalji, Executive Chairman. "We have no doubt that both Geoffrey and Louise will bring fresh perspectives to the Board."

Mr. Morphy is currently the President of Bitfarms Ltd. (TSXV:BITF), a company that owns and operates five high-power computing centres that provide computing power to the Bitcoin cryptocurrency network. Previously, he was the Co-CEO and Chairman of Dundee Sarea Fund, a Canadian-based turn-around fund. Prior to that, he was Vice-President, Corporate Development of Dundee Corporation (TSE: DC.A). Mr. Morphy has more than thirty years of M&A and cross-border and international commercial and corporate structuring and finance experience. He has occupied positions such as Managing Director and Vice-President of a financial advisory firm and banks, such as the Farber Financial Group, ABN Amro Bank N.V., LaSalle Bank, and Comerica Bank. Mr. Morphy holds a Bachelor of Commerce from Dalhousie University and in 2012 earned the designation of Certified Exit Planning Adviser from the Chicago-based Exit Planning Institute. In 2019, Mr. Morphy was granted the designation of ICD.D from the Institute of Canadian Directors.

Ms. Dermott held various marketing research manager positions at the Bank of Montreal (TSX: BMO) and the Angus Reid Group where she developed marketing research projects for Fortune 500 companies. Ms. Dermott was also involved in corporate development, public affairs, telecommunications and information technology.  Ms. Dermott holds a Bachelor of Arts from McGill University. Ms. Dermott also has experience owning and operating real estate and a farming property which included negotiating contracts and financing debt over a 13 year period.

About R&R REIT

R&R REIT is an open-ended real estate investment trust focused on increasing unitholder value through the acquisition and ownership of hotel properties located in the United States.

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

SOURCE R&R Real Estate Investment Trust

Bob Choo, Chief Financial Officer, R&R Real Estate Investment Trust, at 905-206-7102 or e-mail [email protected]