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 the Toronto Stock Exchange (the “TSX”) has approved its notice of intention to make a normal course issuer bid (the “Bid”) for a portion of its common shares (“Common Shares”) trading on the TSX, the New York Stock Exchange (the “NYSE”) and/or alternative Canadian trading systems, as appropriate opportunities arise from time to time. The Bid will be made in accordance with the requirements of the TSX and applicable Canadian and U.S. securities laws. Tricon is adopting an automatic securities repurchase plan in connection with its Bid that contains strict parameters regarding how its Common Shares may be repurchased during times when it would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed blackout periods. Tricon may begin to purchase Common Shares on October 18, 2022.

As of October 7, 2022, there were 273,760,820 Common Shares issued and outstanding, and Tricon’s public float was 265,591,538 Common Shares. Pursuant to the Bid, Tricon intends to acquire up to 2,500,000 Common Shares, being approximately 0.94% of the public float of Common Shares, in the 12-month period commencing October 18, 2022 and ending on October 17, 2023. Purchases under the Bid will be funded through available cash and made by Tricon through the facilities of the TSX, the NYSE and/or alternative Canadian trading systems, in accordance with the TSX’s applicable policies and applicable regulatory requirements, including Rule 10b-18 of the Securities Exchange Act of 1934. The price that Tricon will pay for any Common Shares will be the market price of such Common Shares at the time of acquisition. Under the Bid, Tricon may purchase up to 160,449 Common Shares on the TSX during any trading day, which is 25% of 641,796 (the average daily trading volume for Tricon’s Common Shares on the TSX for the six months ended September 30, 2022). This limitation does not apply to purchases made pursuant to block purchase exemptions. Rule 10b-18 contains similar volume-based restrictions on daily purchases on the NYSE, subject to certain exceptions for block repurchases. Common Shares that are purchased under the Bid will be cancelled upon their purchase by Tricon.

Tricon believes that the repurchase of a portion of outstanding Common Shares is an appropriate use of available resources and is in the Company’s best interests. “Our primary capital allocation priorities of debt repayment and positioning our balance sheet for future growth remain unchanged,” said Gary Berman, Tricon’s President and CEO, “but we believe that buying back some of our shares is a worthwhile use of cash in the current share price environment.”

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

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by such terms such as “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue”, “likely”, “schedule”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Some of the specific forward-looking statements in this news release include, but are not limited to, statements with respect to the number of Common Shares to be acquired under the Bid and other related matters. Tricon has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, financial performance, business strategy and financial needs. Although the forward-looking statements contained in this news release are based upon assumptions that management of Tricon believe are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond Tricon’s control, including, among other things, the risks identified in materials filed under Tricon’s profile at www.sedar.com from time to time. The forward-looking statements made in this news release relate only to events or information as of the date hereof. Except as required by applicable Canadian law, Tricon undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contacts

For further information, please contact: 

Wissam Francis

EVP & Chief Financial Officer

Wojtek Nowak

Managing Director, Capital Markets

Email: investorsupport@triconresidential.com

 

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it will be reporting third quarter 2022 results on Wednesday, November 9, 2022, after-market hours.

Management will host a conference call the next day on Thursday, November 10, 2022 at 9:00 AM (ET) with a simultaneous audio webcast. To access via teleconference please dial (240) 789-2714 or (888) 330-2454 and enter the event passcode: 4788974. The link to the audio webcast will be available on www.choicereit.ca/events-webcasts.

About Choice Properties Real Estate Investment Trust

Choice Properties is a leading Real Estate Investment Trust that creates enduring value through the ownership, operation and development of high-quality commercial and residential properties.

We believe that value comes from creating spaces that improve how our tenants and communities come together to live, work, and connect. We strive to understand the needs of our tenants and manage our properties to the highest standard. We aspire to develop healthy, resilient communities through our dedication to social, economic, and environmental sustainability. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.

For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedar.com.

Contacts

Angelica Muere

Director, Social Impact, Marketing and Communications

T 416 628-7794

E Angelica.Muere@choicereit.ca

Optii is sponsoring the invitation-only user conference, a key forum for information exchange and technology innovation for Maestro PMS hotel customers.

AUSTIN, Texas–(BUSINESS WIRE)–Optii Solutions, the leading hotel operations software, announced today its sponsorship and participation in Maestro’s in-person annual user conference.

Optii’s integration with Maestro’s All-in-One Property Management Software delivers a powerful end-to-end operations solution that draws on the strengths of each technology to deliver productivity gains, improved team performance, and an overall better guest experience. Beyond the technology partnership, Optii is reaffirming its commitment to Maestro customers with its participation in the user-conference.

The event takes place October 17-20th at the King Edward Hotel in Toronto, Canada. Warren Dehan, the President of Maestro, will kick off the conference along with Larry Mogelonsky, the world’s most published hospitality author and co-founder of Hotel Mogel Consulting who will present potential solutions to the current labor crisis that the industry faces. A three day packed agenda will follow that is designed to help Maestro customers navigate change, thrive and accelerate their success through evolving guest expectations, and achieve optimal productivity and profitability.

Elizabeth Katusa, Director of Sales, Optii Solutions, said: “I am looking forward to connecting with Maestro customers and sharing the proven value of combining Optii with Maestro. Our customers, Rodd Hotels and Resorts and The Godfrey Hotel & Cabanas Tampa, are both reporting tremendous success with the powerful combination of our solutions, and I’m excited to extend the same to other hoteliers.”

Deborah Pevenstein, Chief Revenue Officer, Optii Solutions, said: “The hospitality technology ecosystem is vast and collaboration between providers in the space is critical to delivering value to hoteliers. At Optii, we have been fortunate to have a strong partnership and collaboration with Maestro over the years, which has ultimately resulted in value to our shared hotel customers. We couldn’t be more excited to showcase this next week in Toronto.”

About Optii Solutions

Optii Solutions is a hotel operations solution that leverages smarter technologies such as artificial intelligence, analytics, messaging and mobility to improve the efficiency and effectiveness of housekeeping and service delivery departments. For further information, please visit: www.optiisolutions.com.

Contacts

Olivia Hammond

ohammond@fireoth.com
+44 7597 569660

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (“Real” or the “Company”) (NASDAQ: REAX) (TSX: REAX), an international, technology-powered real estate brokerage, announced today that it will be live streaming certain sessions on the morning of October 18, 2022, from the inaugural One Real Conference taking place Monday October 17, 2022 through Wednesday October 19, 2022 in San Antonio, Texas.

Those who tune in to the One Real Conference will benefit from informational sessions featuring members of Real’s senior leadership team and Board of Directors as they unveil new initiatives and dive into their vision for the future of the company.

Anyone wishing to view the sessions can register here in advance: https://www.webcaster4.com/Webcast/Page/2699/46786

Details can also be accessed on Real’s investor relations page, under the events section: https://investors.onereal.com/

More information on the conference can be found here: https://www.onerealconference.com/

Schedule of Events – October 18, 2022 (all times in CT)

9:00am – General Session: Welcome

9:20am – Real Vision

10:00am – Technology: A Look Ahead

10:40am – Real Title: Now and Beyond

10:50am – Real Training 2.0

11:10am – 10 Minute Break

11:20am – Ask Me Anything: Real Brokerage Leadership

11:50am – Board of Directors Panel

About Real

The Real Brokerage Inc. (NASDAQ: REAX) (TSX: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for homebuyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and two Canadian provinces with over 6,000 agents. Additional information can be found on its website at www.onereal.com.

Contacts

Investors, for more information:
Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908.280.2515

Media, for more information:
Elisabeth Warrick

Director, Communications

elisabeth@therealbrokerage.com
201.564.4221