Maplewood International REIT Announces Timing of REIT Termination

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

MISSISSAUGA, Ontario, June 03, 2020 (GLOBE NEWSWIRE) -- (TSXV: MWI.H) Further to a press release issued by Maplewood International Real Estate Investment Trust (the "REIT") on May 28, 2020, announcing the voting results from the REIT's special meeting of unitholders (the "Unitholders"), the REIT announced today that the termination of the REIT will take place at 11:59 p.m. on Friday, June 5, 2020 (the "REIT Termination Time").

The REIT has been advised that on Thursday, June 4, 2020, the TSXV will issue a delisting bulletin providing that the trust units of the REIT (the "Units") will be delisted from the NEX board of the TSXV effective as of the close of business on June 5, 2020. Accordingly, the REIT has also announced that the register of Unitholders, containing the names and addresses of the registered Unitholders of the REIT and their respective Unit holdings, shall close at the REIT Termination Time.

As provided in further detail in the management information circular of the REIT dated April 27, 2020 (the "Circular"), in connection with the activities required for winding-up of the business and affairs of the REIT, the REIT reminds all Unitholders that they must surrender their Units for cancellation at the REIT Termination Time. As provided in the Circular and the accompanying letter of transmittal (the "Letter of Transmittal") sent to Unitholders, in order for each Unitholder to receive its pro rata interest in any remaining cash balance of the REIT for its Units, each registered Unitholder must complete and sign the Letter of Transmittal and deliver such Letter of Transmittal (or a manually executed facsimile thereof) together with the certificate(s) representing the Units and the other documents required by the instructions set out therein to TSX Trust Company, in accordance with the instructions contained in the Letter of Transmittal.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT's control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. All forward-looking information in this press release speaks as of the date of this press release. The REIT does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise. Additional information about these assumptions and risks and uncertainties is contained in the REIT's filings with securities regulators, which have been filed on SEDAR and can be viewed at www.sedar.com under the REIT's profile.

The TSXV has neither approved nor disapproved the contents of this press release.

Neither the TSXV nor its Regulation Services Provider (as that term is defined under the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

For additional information, please contact:

Kursat Kacira, Chief Executive Officer
Tel: (647) 282-8324; E-mail: [email protected]