Canadian Net Announces the Closing of Its Private Placement of Convertible Debentures

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MONTREAL, December 1, 2025 (GLOBE NEWSWIRE) — (TSX-V:NET.UN) Canadian Pure Real Estate Investment Trust (“Canadian network” or “REIT“) is pleased to announce the closing of the non-brokered private placement (“Private placement“) Canadian Net Unsecured Convertible Notes (“Convertible bonds“).

As part of the private placement, the REIT issued $4.0 million in principal amount of convertible notes. The convertible notes mature on December 1, 2030, bear an annual interest rate of 7.0% payable semi-annually and are convertible into Canadian Net units (“Units“) at a conversion price of US$6.75 per unit (“Conversion priceCanadian Net will have the option to repurchase the Convertible Notes on or after December 1, 2028 if the closing price of the Units on the TSX Venture Exchange (“TSH-V“) exceeds the Conversion Price for forty-five (45) consecutive trading days.

The private placement is still subject to all regulatory approvals, namely final TSX-V approval. The Convertible Notes and the Units issuable upon conversion of the Convertible Notes are subject to a four-month hold period in accordance with applicable Canadian securities laws.

The net proceeds from the private placement will be used for Canadian Net acquisitions and related transaction costs, the repayment of a portion of the outstanding indebtedness under Canadian Net's credit facilities, expenses incurred in connection with the private placement, and for working capital and general trust purposes. There is no search fee for private placements.

“We are pleased to announce $4 million in convertible note financing that will support Canadian Net's continued growth,” said Kevin Henley, President and CEO. “Since 2023, we have repaid over $9 million of convertible debt through internal cash flow and targeted refinancing initiatives, while successfully executing our capital recycling program, which has delivered significant growth. This new debt enhances our financial flexibility and allows us to capitalize on additional acquisition opportunities while continuing to strengthen the REIT's strong balance sheet.”

The securities described herein have not been and will not be registered in the United States. Securities Act of 1933.as amended, and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons absent registration or an appropriate exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor is there any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Canadian network – Canadian Net Real Estate Investment Trust is an open-end trust that acquires and owns high quality Triple Net commercial properties that do not require management.

Forward-looking statements – This press release contains forward-looking statements and information as defined by applicable securities laws. Canadian Net cautions readers that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated in such statements. Such risks, uncertainties and other factors include the risk that Canadian Net may not be able to obtain all required regulatory and stock exchange approvals, including final TSX-V approval, risks associated with economic conditions, risks associated with the local real estate market, dependence on the financial condition of tenants, uncertainties associated with real estate activities, changes in interest rates, availability of debt or equity financing and consequences associated with the adoption of new accounting standards, as well as other risks, uncertainties and factors that must be considered. is described from time to time in Canadian Net's filings with securities commissions and similar regulatory authorities, including Canadian Net's annual information form and management's discussions and analysis. Canadian Net does not intend and does not undertake to update or change its forward-looking statements, even if future events occur or for any other reason, unless required to do so by law or any regulatory authority.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

For more information, contact Kevin Henley at (450) 536-5328.

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