Minto Apartment REIT Files Preliminary Base Shelf Prospectus for $800 million in Securities

November 27, 2020 From Minto Apartment REIT

OTTAWA, ON, Nov. 27, 2020 /CNW/ - Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) today announced that it has filed and obtained a receipt for a preliminary short form base shelf prospectus with the Securities Commissions in each of the provinces and territories of Canada. The preliminary short form base shelf prospectus is being filed in light of the imminent expiry of the REIT's existing short form base shelf prospectus in January 2021.

Upon a final short form base shelf prospectus (the "Shelf Prospectus") becoming effective, these filings will, subject to securities regulatory requirements, allow the REIT to make offerings of up to $800,000,000 of REIT Units, debt and subscription receipts (the "Securities") during the 25-month period that the Shelf Prospectus is effective. The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement ("Prospectus Supplement") and, subject to applicable regulations, may include private placements, public offerings or strategic investments.

Unless otherwise specified in a Prospectus Supplement, the net proceeds from the sale of Securities for cash will be used for potential future acquisitions, discretionary capital programs and general working capital purposes. Each Prospectus Supplement will contain specific information, if any, concerning the use of proceeds from that sale of Securities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction where the offer, sale or solicitation would be unlawful. The securities referred to in this press release may not be offered or sold in the United States absent registration or an applicable exemption from registration. A copy of the preliminary short form base shelf prospectus can be found on SEDAR at www.sedar.com.

About Minto Apartment Real Estate Investment Trust
Minto Apartment Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario to own income-producing multi-residential properties located in urban markets in Canada. The REIT owns a portfolio of high-quality income-producing multi-residential rental properties located in Toronto, Ottawa, Montreal, Calgary and Edmonton. For more information on Minto Apartment REIT, please visit the REIT's website at: https://www.mintoapartments.com/.

Forward-Looking Information
This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the REIT's current expectations regarding future events and in some cases can be identified by such terms as "will", "may" and "expected". 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 and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, risks related to the offering or sale of Securities pursuant to the Shelf Prospectus, the completion of the transactions contemplated in this news release in the manner anticipated, and the factors discussed under "Risk Factors" in the preliminary short form base shelf prospectus. Information contained in forward-looking statements is based upon certain material assumptions, including the Canadian capital markets will provide the REIT with access to equity and/or debt at reasonable rates when required and that conditions within the real estate market, including competition for acquisitions, will not be unfavourable. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect. The REIT does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. This forward-looking information speaks only as of the date of this news release.

SOURCE Minto Apartment Real Estate Investment Trust

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