TORONTO–(BUSINESS WIRE)–Tricon Residential Inc. (“Tricon” or the “Company”) (NYSE: TCN, TSX: TCN), an owner and operator of single-family rental homes and multi-family rental apartments in the United States and Canada, announced today that it has entered into an agreement to sell its 20% equity interest in its portfolio of 23 Sun Belt apartment buildings (the “Portfolio”). The interest is being acquired by a vertically integrated residential real estate investment and property management company, which will assume all asset and property management responsibilities after a customary transition period. The transaction remains subject to customary closing conditions and is expected to close on or around October 18.

In aggregate, Tricon will receive approximately $315 million of gross proceeds from the sale, including performance fees earned for managing the third-party joint venture through which the Portfolio is held.

Tricon intends to use the net sale proceeds primarily to repay outstanding debt on its corporate credit facility, enhancing its balance sheet flexibility to pursue future growth in its core single-family rental business.

“The sale of our U.S. multi-family business marks a significant step in our quest to simplify our business and focus our balance sheet exposure primarily on single-family rental, where we continue to see strong demand and growth opportunities,” said Gary Berman, President & CEO of Tricon Residential. “Our investment in this portfolio has generated an attractive IRR of over 20% to Tricon since inception, inclusive of fees, and helps validate the difference between private and public market valuations in today’s economic environment.”

“To the dedicated employees that have made our U.S. multi-family business a success: I want to thank you all for your hard work and for consistently going above and beyond to elevate our resident experience,” Mr. Berman added. “We expect the vast majority of onsite property management staff to remain in their roles after a smooth transition to the new owner of the portfolio – a respected operator that shares our principles and commitment to putting the needs of our employees and residents first.”

Eastdil Secured acted as Tricon’s exclusive financial advisor on this transaction.

About Tricon Residential Inc.

Tricon Residential Inc. is an owner and operator of a growing portfolio of approximately 41,000 single-family rental homes and multi-family rental apartments in the United States and Canada with a primary focus on the U.S. Sun Belt. Our commitment to enriching the lives of our residents and local communities underpins Tricon’s culture and business philosophy. We strive to continuously improve the resident experience through our technology-enabled operating platform and innovative approach to rental housing. At Tricon Residential, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.

Forward-Looking Information

This press release contains forward-looking statements and information relating to expected future events and the Company’s financial and operating results and projections that involve risks and uncertainties, including statements regarding the Company’s intentions, growth and investment opportunities, and performance goals and expectations. Such forward-looking information is typically indicated by the use of words such as “will”, “may”, “expects” or “intends”. The forward-looking statements and information contained in this press release include, without limitation, statements regarding: the sale of the Company’s interest in the Portfolio; the proceeds of disposition; the Company’s use of those proceeds and the expected debt reduction and balance sheet impact of that use; and the Company’s intentions for some of its current employees.

If unknown risks arise, or if any of the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from management expectations as projected in such forward-looking statements. Examples of such risks and uncertainties include, but are not limited to, the inability to complete the transaction described herein due to the failure to satisfy its requisite conditions, and other risk factors described in the Company’s continuous disclosure materials from time to time, available on SEDAR at www.sedar.com. Accordingly, although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

Non-IFRS Measures

The Company has included herein certain non-IFRS financial measures as well as certain measures of investment performance which are supplementary financial measures. These measures are commonly used by entities in the real estate industry as useful metrics for measuring performance. We utilize these measures in managing our business, including performance measurement and capital allocation. We believe that providing these performance measures on a supplemental basis is helpful to investors and shareholders in assessing the overall performance of the Company’s business and investments. However, these measures are not recognized under and do not have any standardized meaning prescribed by IFRS as issued by the IASB, and are not necessarily comparable to similar measures presented by other publicly traded entities. These measures should be considered as supplemental in nature and not as a substitute for related financial information prepared in accordance with IFRS. The definitions of the Company’s Non-IFRS measures are provided in the “Glossary and Defined Terms” section as well as Section 6 of Tricon’s MD&A. The non-IFRS financial measures and supplementary financial measures presented herein should not be construed as alternatives to net income (loss) or cash flow from the Company’s activities, determined in accordance with IFRS, as indicators of Tricon’s financial performance. Tricon’s method of calculating these measures may differ from other issuers’ methods and, accordingly, these measures may not be comparable to similar measures presented by other publicly-traded entities.

Contacts

Investors

Wissam Francis

EVP & Chief Financial Officer

Wojtek Nowak

Managing Director, Capital Markets

Email: investorsupport@triconresidential.com

Media

Tara Tucker

Vice President, Communications

Email: ttucker@triconresidential.com

IRVING, Texas–(BUSINESS WIRE)–HighGround Restoration Group, INC., a portfolio company of Trivest Partners LP (“Trivest”), announces it has acquired Same Day Restoration INC (“Same Day” or the “Company”). With offices in San Diego and Orange County, California, Same Day is the preferred partner for homeowners, commercial property managers, and insurance agents providing water, fire, mold, and abatement, with mitigation, restoration and reconstruction services. Under founder Pacy Woonteiler, the Company has achieved a consistent track record of growth by delivering for customers and investing in its people with training and professional development.

Ben Balsley, HighGround’s Chief Executive Officer, stated, “Our vision is to build a company where great brands thrive and elevate to next-level performance. Same Day is a market leader and shares our vision for growth and a strong culture of service to customers and support for employees. I’m excited to bring them into the HighGround family and look forward to partnering with Pacy and the Same Day team to build on their success in Southern California.”

“We are pleased to partner with Same Day Restoration. They are a clear leader in terms of delivering outstanding restoration services to residential and commercial customers in Southern California. Same Day is an excellent fit with the existing HighGround family of brands and provides an attractive opportunity to extend our platform’s reach to the West Coast,” said Reid Callaway, Principal with Trivest.

In addition to its recent investment in Same Day, HighGround has also partnered with the following restoration brands: Dry Force, Cleanup & Total Restoration (CTR), Power Dry, MoreFloods, Dririte, and Northeast Power Dry. These brands represent every region of the US and HighGround is actively seeking to add brands and partner with founders that share its focus on people, service, and growth. If you are interested in learning more or joining the HighGround family of brands, reach out at information@highgroundnow.com or visit www.highgroundnow.com.

About HighGround:

No one’s ever prepared for the chaos that comes with water, mold, fire, or smoke damage. And some contractors only make it worse. The property owner needs help from someone who knows what they’re doing – and who genuinely cares. And that’s why our family of brands come to work every day.

HighGround brands help customers who have suffered water or fire damage by providing 24/7/365 drying and clean up services coupled with reconstruction contracting, all while engaging with the customer’s insurance company to ensure seamless claims processing. Our brands have developed a robust referral program with residential and commercial partners by offering services such as hosted education and training, reporting and analytics, and competitive incentive compensation. This comprehensive approach allows HighGround to stay top of mind with these key referral relationships.

About Trivest:

Trivest Partners, with offices in Miami, Charlotte, Chicago, Los Angeles, Philadelphia, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the U.S. and Canada, in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 400 investments, totaling approximately $7 billion in value. The firm has roughly $4 billion in assets under management, with a growing team of over 65 professionals. Trivest has been recognized by Inc. Magazine as one of the top founder-friendly private equity firms in four consecutive years. Learn more at www.trivest.com

Contacts

Brian McNeal

Email: brian.mcneal@highground.com

TORONTO–(BUSINESS WIRE)–Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart buildings and cities through IoT, Cloud and SaaS technology, has been selected by a Cannabis Company to provide an energy efficiency building upgrade with corresponding emission reductions and real-time monitoring. The Cannabis Company operates in Ontario and British Columbia, Canada.

New Customer in the Cannabis Industry

“Across the industrial and commercial building markets there is an urgent need for energy savings and greater energy efficiency both in terms of immediate cost control and also mitigating the rising cost of energy,” says Paul Ghezzi, CEO of Kontrol Technologies. “This is a new customer in the Cannabis sector, and we are pleased to have been selected to deliver an energy savings and operational improvement solution.”

The project will involve an upgrade to the Customers current HVAC (Heating, Ventilation and Cooling) system designed to deliver energy savings, lower energy consumption and real-time monitoring for ongoing optimization. For industry competitive purposes the Customer will not be named.

Energy Efficiency as the First Fuel

“With the increase in electricity and natural gas rates, our customers require energy efficiency solutions which produce cost savings, lower energy bills and optimize building performance,” continues Ghezzi.

According to the IEA (International Energy Agency), energy efficiency is called the “first fuel” in clean energy transitions, as it provides some of the quickest and most cost-effective CO2 mitigation options while lowering energy bills and strengthening energy security. www.iea.org.

Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com

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Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Forward-looking information contained in this press releases includes, but is not limited to, the following: future retrofit solutions to be offered by Kontrol for its potential customers; the anticipated timing of the initial design, feasibility, implementation, and potential energy savings; installation of and energy savings that the Company’s technology will provide for the Customer; the future success of any of Kontrol’s products; and customer demand relating to energy management.

Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company; that future Carbon solutions can be conducted as planned; that technology will be as effective as anticipated; that existing relationships and contracts entered into by the Company will continue on the same or similar terms, or at all; that the anticipated timing of implementing the energy saving design for the Customer will go as planned; and that demand will continue for energy management products and for the Company’s products in particular.

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

Contacts

Kontrol Technologies Corp.
Paul Ghezzi

CEO

info@kontrolcorp.com
601 Rowntree Dairy Road, Unit B

Vaughan, ON L4L 5T8

Tel: (905) 766.0400

• The partnership with Alaska’s leading resource for vocational training will help drive the transition to a safer, more efficient lifting environment.
• Practical training in the use of the Vita Load Navigator and other construction courses will be offered in Alaska and Colorado.

BROOMFIELD, Colo.–(BUSINESS WIRE)–Vita Industrial has announced a Strategic Business Combination with NIT Alaska, furthering its mission of becoming a leading provider of technology, servicing, and training for the lifting industry.

As the state’s leading resource for vocational training, NIT Alaska’s strong focus on the construction industry will aid Vita in promoting the effective use of its lifting system as a key means of preventing injuries and saving lives on jobsites, in addition to providing means to upskill and reskill operators through education and training services.

“We are proud to pair our training services with such a forward-thinking company,” said Joey Crum, CEO, NIT Alaska. “Vita Industrial’s ambition of eliminating taglines to create a safer lifting environment will require an emphasis on training and re-education. We look forward to expanding our training services to meet their mission.”

Vita’s vision with this Strategic Business Combination is focused on three main phases: online training and certification, live training and certification, and the development of new training and additional continuing education courses for the industry. Online courses will cover practical rigging, signaling, data record management, and OSHA certifications. Live and in-person Rigger and Crane certification training will be offered from Alaska and a crane yard close to Vita’s headquarters in Broomfield, Colorado. Future class offerings will focus on emerging technologies, including telematics, IoT, predictive maintenance, and Building Information Modeling (BIM). Recertifications will be Vita-controlled, with current and future customers associating the Vita name with education in addition to innovation.

“Our mission is to be recognized as a comprehensive lifting partner. Providing the finest instruction from one of the most respected training locations in the country is another big step towards that goal,” added Caleb Carr, Chairman and CEO of Vita Inclinata. “This combination will enable Vita to train the future of crane operators and riggers within the United States.”

With this Strategic Business Combination, Vita Industrial is now spearheading the industrial modernization of the lifting industry, providing a complete construction training program to previous, current, and future customers. As the crane industry continues to grow and put new technologies to use, Vita is committed to providing crane operators with the proper training to match new capabilities, retain their workforce, and achieve operational excellence.

Course pre-registration began October 1st, 2022. Apply here.

About Vita Inclinata

A friend’s death during a rescue operation—with a helicopter close but unable to stabilize due to weather and terrain—was the genesis of Vita Inclinata. Founded in 2015 as a way to solve a real problem, Vita today controls chaotic swinging and spin and adds safety and precision for rotor-wing and fixed-wing aircraft and cranes. With the mission of “Bring them home, every time,” Vita’s technology changes the narrative while saving lives, time, and money across industries, including search and rescue, military, firefighting, public safety, construction, wind energy, and oil and gas. The company is headquartered in Broomfield, Colorado, with offices in Washington, DC, and Huntsville, Alabama. For more information, please visit www.vitatech.co.

Vita Inclinata Technologies, Inc.

295 Interlocken Blvd, #175

Broomfield, CO 80021

Contacts

Scott Slack

Marketing Director

720-840-8448 • vitatech.co

scott@vitatech.co

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris REIT”) (TSX: PMZ.UN) announced today that its Board of Trustees has declared a distribution of $0.0667 per unit for the month of October, 2022, representing $0.80 per unit on an annualized basis. The distribution will be payable on November 15, 2022 to unitholders of record on October 31, 2022.

About Primaris REIT

Primaris REIT is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in dominant enclosed shopping centres in growing markets. The portfolio totals 11.3 million square feet and is valued at approximately $3.3 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris REIT is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

Contacts

For more information:

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

TSX: PMZ.UN

www.primarisreit.com

EVANSTON, Ill.–(BUSINESS WIRE)–The worldwide cost of corrosion is an estimated $2.5 trillion dollars annually, according to NACE (AMPP) International (2016). The ability to properly classify the corrosivity of environmental conditions is crucial to managing asset life-cycle costs. Accurately assessing the environmental corrosion risk ensures that infrastructure owners can optimize their maintenance budgets, while improving safety and reliability. This can reduce risk and save owners of infrastructure millions of dollars per year.

Engineering Director, Inc. (EDI), a premier global provider of corrosion and risk assessments for steel surfaces, has launched a free web app that allows users to assess the corrosivity of an atmospherically exposed environment using the ISO 9223 C1-C5x standard, machine learning, and spatial analytics. This tool uses atmospheric sulfates (pollution), chlorides (sea spray), temperature, and relative humidity to give users an estimate of how corrosive an atmosphere is for steel. This technology is also available with an Application Programming Interface (API) for developers building integrations.

Joe Mazzella, EDI President, says, “for over 20 years, coating manufacturers have been specifying protective coating systems to meet the standards of ISO 12944, with limited ability to assess atmospheric conditions over a broad geographic area. The Engineering Director, Inc. web application makes it easy to assess atmospheric exposure (ISO 9223), in an effort to specify the optimum coating system based on the desired life expectancy.”

Harry Tsaprailis, Enbridge Pipelines, Ph.D., P.Chem., says, “The ability to understand the local atmospheric corrosivity category (ISO 9223) associated with our company assets is critical in determining the correct protective coating that should be applied. With this knowledge, owners can ensure appropriate long-term protection of carbon steel assets.”

About Engineering Director, Inc.

Engineering Director, Inc. (EDI) is an engineering consulting firm specializing in developing, implementing, and measuring lean business processes and strategies through the effective use of Information Technology (IT), Artificial Intelligence (AI), and Geographical Information Systems (GIS). ​

Contacts

For more information, please contact EDI at marketing@engineeringdirector.com

TORONTO–(BUSINESS WIRE)–Tricon Residential Inc. (“Tricon” or the “Company”) (NYSE: TCN, TSX: TCN), an owner and operator of single-family rental homes and multi-family rental apartments in the United States and Canada, invites you to participate in its live conference call with senior management to discuss the Company’s financial results for the third quarter of 2022. The call will take place on Wednesday, November 9^th at 11 a.m. ET.

Tricon’s financial statements and management’s discussion and analysis for the third quarter of 2022 will be released prior to the call and will be made available on the Company’s website, on the Canadian Securities Administrators’ website at www.sedar.com and on the U.S. Securities and Exchange Commission website at www.sec.gov. The Company will also release supplementary information which will be available on the Tricon Residential Investor Relations website at www.triconresidential.com.

To access the call, please dial (888) 550-5422 or (646) 960-0676 (Conference ID #3699415). The conference call will be available via webcast on the Tricon Residential Investor Relations website at www.triconresidential.com. A replay of the call will be available from 3pm ET on November 9^th, 2022, until midnight ET, on December 10^th, 2022. To access the replay, call (800) 770- 2030 or (647) 362- 9199, followed by Conference ID #3699415.

About Tricon Residential Inc.

Tricon Residential Inc. is an owner and operator of a growing portfolio of over 41,000 single-family rental homes and multi-family rental apartments in the United States and Canada with a primary focus on the U.S. Sun Belt. Our commitment to enriching the lives of our residents and local communities underpins Tricon’s culture and business philosophy. We strive to continuously improve the resident experience through our technology-enabled operating platform and innovative approach to rental housing. At Tricon Residential, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.

Contacts

Investors

Wissam Francis

EVP & Chief Financial Officer

Wojtek Nowak

Managing Director, Capital Markets

Email: investorsupport@triconresidential.com