True North Commercial REIT Announces Trustee Vacancy

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TORONTO, Dec. 14, 2022 /CNW/ - True North Commercial Real Estate Investment Trust (the "REIT") (TSX: TNT.UN) announced today that Ms. Anna Murray has resigned as a trustee effective as of January 13, 2023 in order to comply with the policies of her new employer.

"On behalf of the board of trustees and the management team, we thank Anna for her contribution and wish her success in her future endeavours," said Daniel Drimmer, Chairman of the Board and Chief Executive Officer.

In accordance with the REIT's third amended and restated declaration of trust, the governance, compensation and nominating committee ("GC&N Committee") is currently evaluating alternatives with respect to appointing a new independent trustee to fill the vacancy. As a result of Ms. Murray's resignation, Lindsay Brand will temporarily be appointed to the GC&N Committee until the independent trustee position has been filled.

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 47 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] or Tracy Sherren, President and Chief Financial Officer, [phone]