Subversive Real Estate Acquisition REIT LP to Begin Trading on OTCQX

TORONTO–(BUSINESS WIRE)–Subversive Real Estate Acquisition REIT LP (NEO: SVX.U) (NEO: SVX.RT.U) (OTCQX: SBVRF) (the “REIT LP”) announced that the REIT LP has qualified to trade on the OTCQX® Best Market. The REIT LP will trade under the symbol “SBVRF,” starting on October 28, 2020. The REIT LP continues to also trade on the Neo Exchange Inc. (the “Exchange”) in Canada under the symbols “SVX.U” and “SVX.RT.U.”

The REIT LP also recently announced that it has agreed to grant an aggregate of up to 24,116,750 million contingent rights (the “Contingent Rights”) to holders of Restricted Voting Units that are not redeemed in connection with the REIT LP’s previously announced qualifying transaction (the “Qualifying Transaction”) and to holders of Restricted Voting Units that are issued in connection therewith, which Contingent Rights will be issued to holders of record on the day following the closing of the Qualifying Transaction (the “Closing”). The holders of Contingent Rights will be entitled to receive one limited partnership unit (“LP Units”) for every five Contingents Rights held, upon the earlier of (a) the listing of the REIT LP units on a recognized major U.S. exchange, and (b) cannabis production and sale becoming federally legal in the United States. The REIT LP expects to close the Qualifying Transaction in early November 2020.

We are pleased to announce that we have qualified to trade on the OTCQX market, which marks another milestone in our effort to provide investors with greater access to our securities. We believe that the combination of growth and an estimated 6.5% yield offered by the REIT LP’s initial portfolio of 15 industrial and retail assets, as well as our high-quality platform as the second cannabis REIT, will be attractive to investors worldwide,” said the REIT LP’s CEO Richard Acosta.

Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

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 Exchange. The REIT LP’s Restricted Voting Units and Rights are listed on the Exchange under the symbols “SVX.U” and “SVX.RT.U”, respectively.

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

Caution Regarding Forward–Looking Statements

Certain statements contained in this news release constitute “forward-looking information” for the purpose of applicable Canadian securities legislation (“forward-looking statements”). These statements reflect the General Partner’s management’s expectations with respect to future events, the REIT LP’s financial performance and business prospects. Forward-looking statements include, but are not limited to, statements concerning the REIT LP’s ability to complete the Qualifying Transaction; the continued listing of the Limited Partnership Units and other securities of the REIT LP; the listing of the Contingent Rights on the Exchange; the expected benefits of the Qualifying Transaction to, and resulting treatment of, investors in, and unitholders of, the REIT LP, including holders of Limited Partnership Units and other securities of the REIT LP; the REIT LP’s estimated distribution yield; the amount and terms of the Contingent Rights; the anticipated effects of the Qualifying Transaction; the REIT LP’s financial performance following the Qualifying Transaction; the growth of the cannabis industry and growth of the REIT LP; and the management of the REIT LP. All statements other than statements of historical fact are forward-looking statements. The use of the words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would”, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not a forward-looking statement. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated or implied in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Unless otherwise indicated, these statements speak only as of the date of this prospectus.

Such forward-looking statements are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations which are difficult to predict and many of which are beyond the control of the REIT LP, including with respect to the Qualifying Transaction.

Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management of the REIT LP as of the date of this news release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The REIT LP’s estimates, beliefs and assumptions, which may prove to be incorrect, include various assumptions, including, but not limited to, the anticipated receipt of any required regulatory approvals and consents (including the final approval of the Exchange); the expectation that each counterparty in respect of the assets comprising the REIT LP”s initial portfolio will comply with the terms and conditions of the applicable definitive agreement; the expectation that no event, change or other circumstance will occur that could give rise to the termination of one or more of such agreements; the REIT LP’s future growth potential, results of operations, future prospects and opportunities, demographic and industry trends, no change in legislative or regulatory matters, future levels of indebtedness, the tax laws as currently in effect, the continuing availability of capital and current economic conditions.

When relying on forward-looking statements to make decisions, the REIT LP cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements, including, but not limited to the factors discussed under the heading “Risk Factors” in the REIT LP’s final prospectus dated October 19, 2020. The final prospectus is available on the REIT LP’s SEDAR profile at www.sedar.com.

Although management has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.

All forward‐looking statements included in and incorporated into this news release are qualified by these cautionary statements. Unless otherwise indicated, the forward‐looking statements contained herein are made as of the date of this news release, and except as required by applicable law, the REIT LP nor its Sponsors do not undertake any obligation to publicly update or revise any forward‐looking statement, whether as a result of new information, future events or otherwise.

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