Non-Executive Trustee | Amount of 2022 Trustee | Number of Units |
200,670 | ||
200,670 | ||
200,670 | ||
200,670 |
(1) Based on an issuance price of |
The REIT also announces that it has entered into new units for services agreements with its non-executive trustees in respect of issuing units in lieu of all or a portion of the cash trustee retainer fees that will be payable to such non-executive trustees for the 2023 fiscal year (the "2023 Units for Services Agreements"). The 2023 Units for Services Agreements with each such non-executive trustee, which have been conditionally approved by the
Non-Executive Trustee | Amount of 2023 Trustee |
The number of units issuable will be calculated using the volume-weighted average trading price for the units of the REIT on the TSXV for the five trading days immediately prior to the date of issuance (provided that the price per unit shall not be less than the maximum permitted discounted market price on the date of issuance pursuant to the TSXV rules) and the daily average exchange rate for CAD:USD reported by the
The REIT also announces today that it has granted 201,560 deferred trust units to an executive officer at a price of
R&R REIT is an open-ended real estate investment trust focused on increasing unitholder value through the acquisition and ownership of hotel properties located in
Certain statements contained in this press release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking statements are provided for the purposes of assisting the reader in understanding the REIT's financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future, and readers are cautioned such statements may not be appropriate for other purposes. Forward-looking information may relate to future issuances of units, pricing of units to be issued in the future and the receipt of the TSXV's final approval in connection with the units for services agreements. In some cases, forward-looking information can be identified by such terms as "may", "will", "should", "occur", "expect", "plan", "intend", "estimate", "potential", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts. Forward-looking statements necessarily involve known and unknown risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, assumptions may not be correct and objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the REIT's control, affect the operations, performance and results of the REIT and its business, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to, the risks discussed in the REIT's materials filed with Canadian securities regulatory authorities from time to time on www.sedar.com, risks related to the units and risks related to the REIT and its business. The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements as there can be no assurance actual results will be consistent with such forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion, including the TSXV providing final approval for the issuances pursuant to the units for services agreements. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect. The forward-looking statements made in this press release are dated, and relate only to events or information, as of the date of this press release. Except as specifically required by law, the REIT undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Neither
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