True North Commercial Real Estate Investment Trust Announces Voting Results and Election of Trustees

/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/

TORONTO, June 21, 2023 /CNW/ - True North Commercial Real Estate Investment Trust (TSX: TNT.UN) (the "REIT") announced today that all of the trustee nominees listed in the management information circular dated May 11, 2023, were elected as trustees of the REIT. The vote was conducted at the REIT's annual meeting of unitholders ("Meeting"), held in virtual meeting form, on June 21, 2023. The voting results of each of the matters considered at the Meeting are presented below.

1.  Election of Trustees

	Name of Nominee	Votes For	Percent	Votes Withheld	Percent
	Lindsay Brand	18,186,009 Units	98.031 %	365,330 Units	1.969 %
	Daniel Drimmer	18,298,116 Units	98.635 %	253,223 Units	1.365 %
	Lora Gernon	18,217,234 Units	98.199 %	334,105 Units	1.801 %
	Martin Liddell	18,185,338 Units	98.113 %	349,808 Units	1.887 %
	Alon Ossip	18,322,551 Units	98.767 %	228,788 Units	1.233 %
	Sandy Poklar	17,988,061 Units	96.964 %	563,278 Units	3.036 %
	Tracy Sherren	18,245,372 Units	98.351 %	305,967 Units	1.649 %

2.  Re-Appointment of Auditor

BDO Canada LLP was re-appointed as the auditor of the REIT, to hold office until the next annual meeting of unitholders at remuneration to be fixed by the board of trustees. The voting results for the re-appointment of the auditor are as follows:

		Votes For	Percent	Votes Withheld	Percent
	Re-appointment of auditor	18,375,602 Units	99.026 %	180,703 Units	0.974 %

About the REIT

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 46 properties consisting of approximately 5.0 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.

For more information regarding the REIT, please visit www.sedar.com or the REIT's website at www.truenorthreit.com.

SOURCE True North Commercial Real Estate Investment Trust

Daniel Drimmer, Chief Executive Officer, [phone]; Tracy Sherren, President and Chief Financial Officer, [phone]