Real Estate Opportunities - Invitation for Proposals for Riverbend and Alliston

TORONTO, Sept. 7, 2018 /CNW/ - Ernst & Young Inc. ("EY"), in its capacity as Court-appointed Monitor (the "Monitor") of Riverbend Asset Management Corporation ("Riverbend") and Walton Alliston Development Corporation ("Alliston"), is seeking proposals for the sale of certain pre-development lands located in Brantford, Ontario (the "Riverbend Lands") and Alliston, Ontario (the "Alliston Lands"), pursuant to a Sale and Investment Solicitation Process approved by the Court of Queen's Bench of Alberta on August 30, 2018 (the "SISP").

The SISP is intended to solicit interest in a sale of the Riverbend Lands and the Alliston Lands.

Key milestones of the SISP are as follows:

• Binding LOI Deadline – October 19, 2018
• Auction Date (if necessary) – October 26, 2018
• Closing Date – October 26, 2018*

*If the SISP results in an auction, the closing date will be subsequent to October 26, 2018

A Confidential Information Memorandum ("CIM") has been prepared by the Monitor in consultation with Riverbend and Alliston. The CIM is available to parties that have expressed a desire to participate in the SISP and have delivered to the Monitor a non-disclosure agreement ("NDA") in a form acceptable to the Monitor. Parties that previously executed an NDA during the previous sales processes are not required to execute a separate NDA for the SISP.

Additional information on the SISP, including a copy of the SISP, a teaser in respect of the Riverbend Lands and the Alliston Lands, and a downloadable version of the NDA are accessible at the Monitor's restructuring document center at www.ey.com/ca/wigi.

Ernst & Young Inc., in its capacity as Court-appointed Monitor
100 Adelaide Street West
Toronto, ON  M5H 0B3
Fax: [phone]

SOURCE Ernst & Young Inc.

If you wish to participate in the SISP or for further information, please contact Duncan Yang of the Monitor via email at [email protected] or by phone at 416.943.3185.