Subversive Real Estate Acquisition REIT LP Announces Automatic Extension of Permitted Timeline

TORONTO, Jan. 4, 2021 /CNW/ - SUBVERSIVE REAL ESTATE ACQUISITION REIT LP (NEO: SVX.U) ("SVX" or the "REIT") announced today that it has executed a confidential definitive agreement in connection with a potential transaction, which would, if consummated, qualify as SVX's qualifying transaction. Accordingly, the REIT will be permitted until April 8, 2021 (15 months following the closing of its initial public offering) to conclude its qualifying transaction.

The confidential definitive agreement is subject to a number of conditions, including, among others, due diligence conditions. The REIT intends to disclose additional details regarding the confidential definitive agreement following the satisfaction of certain of such conditions.

About Subversive Real Estate Acquisition REIT LP

Subversive Real Estate Acquisition REIT LP is a limited partnership established under the Limited Partnerships Act (Ontario) formed for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, equity exchange, asset acquisition, equity purchase, reorganization, or any other similar business combination involving the REIT LP that will qualify as its qualifying transaction for the purposes of the rules of the Exchange. The REIT LP is a special purpose acquisition corporation for the purposes of the rules of the Neo Exchange Inc.

Additional information is located at www.subversivecapital.com/reit.

Forward–Looking Statements

This press release may contain forward–looking information within the meaning of applicable securities legislation, which reflects the REIT's and its general partners' current expectations regarding future events, including with respect to its qualifying transaction. Forward–looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward–looking information. The REIT does not undertake any obligation to update such forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Subversive Real Estate Acquisition REIT LP

INVESTORS: Subversive Real Estate Acquisition REIT LP, [email protected]; MEDIA: Subversive Real Estate Acquisition REIT LP, Berrin Noorata, [email protected]