Pine Trail REIT Announces Senior Management Change

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TORONTO, Sept. 20, 2019 (GLOBE NEWSWIRE) -- Pine Trail Real Estate Investment Trust (the "REIT") (TSXV:PT.UN) announced today that, Mr. Sean Nakamoto and Mr. David Luu have resigned from their positions as the Chief Executive Officer and Chief Financial Officer, respectively, of the REIT to focus on other business interests. Mr. Nakamoto will remain as a trustee of the REIT.

The Board thanks them for their contributions in launching the REIT and wishes them well in their future endeavors.

Mr. Andrew Shapack, a trustee of the REIT, has been appointed as the Chief Executive Officer and will also assume the position of interim Chief Financial Officer until a suitable replacement can be found. Further, Morgan Taylor has been appointed to assume the role of Corporate Secretary of the REIT, a role that was previously held by Mr. Luu.

FOR FURTHER INFORMATION, PLEASE CONTACT: Andrew Shapack, CEO, Interim CFO Phone: (416) 532-2200

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.