TORONTO–(BUSINESS WIRE)–The Board of Trustees (the “Board”) of RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced that it has made refinements to further align executive compensation with unitholder experience. Subsequent to the non-binding advisory say-on-pay resolution receiving 75.97% support at the Trust’s 2023 annual and special meeting of unitholders, the Board and its People, Culture and Compensation Committee (the “Committee”) undertook a thorough review of the Trust’s executive compensation program and conducted an extensive unitholder outreach initiative.

“The Board and Committee sought unitholder feedback on RioCan’s executive compensation program. Through our unitholder outreach initiative, we engaged in meaningful discussions and have taken important steps to address our unitholders’ feedback. These changes will be effective January 1, 2024,” said Jane Marshall, Chair of the Committee. “We would like to extend our sincerest gratitude to the unitholders who took the time to meet with us. We remain committed to ensuring that our executive compensation program continues to link pay with performance and create long-term unitholder value by attracting and retaining talented executives.”

Between July and November, members of the Committee and the Board met with and solicited feedback from RioCan’s largest unitholders. The Committee reached out to the majority of the Trust’s 40 largest unitholders, representing approximately 39% of RioCan’s outstanding units. To date, the Committee has held 16 meetings with unitholders, representing approximately 23.53% of RioCan’s outstanding units. The Board and Committee intend to continue their leading unitholder outreach program. Since its establishment in 2020, Board members have held 71 meetings with unitholders. The outreach program is a critical element of RioCan’s overall investor relations program and demonstrates RioCan’s ongoing commitment to facilitating meaningful communication with its unitholders and its willingness to respond to the feedback of its Unitholders on governance and compensation related issues.

As a result of the outreach program, the Board and Management have committed to refining the Trust’s compensation program, beginning in 2024. Below is a summary of the changes:

• Double trigger Senior Executive REU Plan: RioCan’s Senior Executive REU Plan (the “REU Plan”) will be amended to require a ‘double trigger’ before permitting REUs to vest upon a change of control. This change means that executive REUs will now require both a termination of the executive’s employment and a change of control to trigger vesting which aligns RioCan with equity plan best-practices.
• Cliff vesting for REUs: The REU Plan will be amended such that REUs will vest 100% following a three-year performance cycle. This change puts further emphasis on the creation of long-term unitholder value.
• Modified peer group: The Committee worked with its independent compensation consultant to redevelop RioCan’s peer group for both compensation and performance measurement to replace peers in the utility sector with more business-relevant peers. RioCan will provide enhanced proxy disclosure of the rationale for the selection of the companies in its peer group.
• Increased focus on ESG: Further focus will continue to be put on establishing short- and long-term compensation metrics that are directly linked to achieving the Trust’s environmental objectives, as well as certain key social and governance objectives that the Board determines to be important.
• Enhanced disclosure: RioCan commits to providing enhanced disclosure in its management information circular, including with respect to the different applications of funds from operations in RioCan’s Executive Management Bonus Plan and long-term incentive program and to the individual objectives within each executive’s scorecard.

Additional details will be provided in RioCan’s Management Information Circular prior to the 2024 annual meeting of unitholders. RioCan remains committed to year-round and meaningful engagement with unitholders. The Committee will continue to assess the Trust’s executive compensation program to align with business goals and unitholder interests.

About RioCan

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at September 30, 2023, our portfolio is comprised of 192 properties with an aggregate net leasable area of approximately 33.6 million square feet (at RioCan’s interest) including office, residential rental and 10 development properties. To learn more about us, please visit www.riocan.com.

Contacts

RioCan
Kim Lee

Vice President, Investor Relations

(416) 646-8326

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Walton Global, a leading asset management and global real estate investment company, is pleased to announce a total of $30.9 million in distributions to investors within the Roll-Up Corporation, WIGI Restructured Bond Corporation, and McConachie Asset Management Corporation.

A significant distribution of $26,339,936 was approved on November 16^th, 2023, by the Walton-managed Roll-Up Corporation (“RUC”) and the distribution was made December 8^th. This is RUC’s sixth dividend paid to its shareholders since the formation of the entity and its second distribution in 2023. This represents an aggregate of $183,899,573, or $2.71 per share, distributed to shareholders to date.

The distribution is a result of RUC’s continued success in the execution of its monetization strategy of land assets across North America. “The outlook for 2024 is anticipated to be successful in terms of exit activity and continued distributions to shareholders as we continue to execute the corporation’s strategy,” said Tony Deegan, Senior Vice President at Walton Global. “There is more than $164 million in projected exits between now and the end of next year.”

A second Walton-managed entity, WIGI Restructured Bond Corporation, has also approved a $3,700,000 distribution to investors. The distribution will be paid on or near December 21^st, 2023. Consistent land transactions over the past number of years have led to an aggregate of $34,275,000 being distributed to investors since the formation of the entity in 2018.

Walton’s McConachie Asset Management Corporation has also just completed a distribution of $919,345 on bonds on November 15^th, 2023. The corporation has made principal and interest payments totaling $66,658,157 to date. The McConachie Community is a residential development project in Edmonton, Alberta where Walton is the Project Manager. “The McConachie project is nearing completion, with the multi-family site, managed by Royal West Homes, being the final stage of the development to be completed,” said Rob Nixon, Senior Vice President of Real Estate. “This has been an exciting project to work on over the years and we are looking forward to fully exiting this project for investors.”

About Walton Global

Walton Global is a privately owned, leading land asset management and global real estate investment company that concentrates on the research, acquisition, administration, planning and development of land. With nearly 45 years of experience, Walton has a proven track record of administering land investment projects within the fastest growing metropolitan areas in North America. The company manages and administers US $3.4 billion in assets on behalf of its global investors, builders, developer clients and industry business partners. Walton has more than 90,000 acres of land under ownership, management and administration in the United States and Canada with business lines ranging from exit-focused pre-development land investments to builder land financing. For more information visit walton.com.

Contacts

MEDIA CONTACT:
Hamilton McCulloh

Allison Worldwide

1-206-910-9797

waltonglobal@allisonworldwide.com

TORONTO–(BUSINESS WIRE)–$KNR #esg—Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), adds a carbon sequestration monitoring Customer (the “Customer”) to its industrial emissions platform. The Company will provide real time monitoring for its Customer to support the development and integration of carbon sequestration solutions at a large industrial facility in Ontario, Canada.

“The market around carbon sequestration is taking hold as large industrial emitters may face financial penalties if they are unable to meet their emission targets,” says Paul Ghezzi, CEO of Kontrol. “Many large industrial emitters are moving forward with carbon sequestration plans, and we are pleased to be able to support the growth of this new opportunity with real-time monitoring solutions which can monitor and measure various emissions and emission levels.”

According to Natural Resources Canada, in response to the climate imperative, global momentum in the carbon management sector has grown substantially in recent years, with over 570 carbon capture, utilization, and storage (CCUS) projects in development. By 2030, 368 projects are expected to be operational, with an anticipated capacity to capture 743 Mt of CO2 per year. www.natural-resources.canada.ca/climate-change

The Customer will not be named for industry competitive reasons.

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 emission monitoring solutions and products to be offered by Kontrol for its potential customers; that the future success of any of Kontrol’s products; and customer demand relating to continuous emissions. 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 the anticipated timing of implementing continuous emission monitoring solutions for Customers will go as planned; and that demand will continue for continuous emission monitoring technology 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

Paul Ghezzi

CEO

Kontrol Technologies

paul@kontrolcorp.com

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 $0.07 per unit for the month of December, 2023, representing $0.84 per unit on an annualized basis. The distribution will be payable on January 15, 2024 to unitholders of record on December 29, 2023.

About Primaris REIT

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in the leading enclosed shopping centres in growing markets. The current portfolio totals 12.5 million square feet valued at approximately $3.9 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris 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

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

Tim Pire

Chair of the Board of Trustees

chair@primarisreit.com

TSX: PMZ.UN

www.primarisreit.com

ecobee smart thermostats now integrate with Generac Propane Tank Monitors as part of the companies’ single energy management hub for the home

TORONTO–(BUSINESS WIRE)–ecobee, together with parent company Generac Power Systems, Inc. (NYSE: GNRC), a leading global designer and manufacturer of energy technology solutions and other power products, today announced that all ecobee smart thermostats released since 2014 can now integrate with Generac 4G LTE Cellular Propane Tank Monitors to easily monitor fuel levels in the propane tank right from the smart thermostat screen. This integration marks the latest milestone in ecobee and Generac’s mission to create a more comfortable, secure, resilient, and efficient home energy ecosystem.

The Generac Propane Tank Monitor is a small, cellular device that attaches to the outside of the propane tank and monitors the amount of remaining fuel, helping homeowners avoid fuel run outs and plan for deliveries. The device is available through Generac Power Products, Generac dealers, and home improvement and online retailers. Through the new integration, ecobee smart thermostat owners who have a Generac Propane Tank Monitor and subscribe to tank monitoring in Mobile Link, can easily monitor fuel levels from their thermostat and receive real-time alerts when the tank is running low. The ecobee smart thermostat also sends alerts if the monitor falls offline or needs new batteries so homeowners are always informed and prepared.

“As both ecobee and Generac look toward creating a more unified and efficient smart home, we are excited to continue expanding upon our integration capabilities,” said Greg Fyke, President of ecobee. “By integrating our ecobee smart thermostats with Generac Propane Tank Monitors, we are providing customers with added peace of mind and more control over their home energy usage.”

The integration is now available in all ecobee smart thermostat models released since 2014 – ecobee3, ecobee3 lite, ecobee4, SmartThermostat with Voice Control, Smart Thermostat Enhanced, and Smart Thermostat Premium – and is compatible with all connected Generac Propane Tank Monitors for customers who are subscribed to tank monitoring in Mobile Link. Customers can also choose their notification settings on their thermostat or opt out at any time from within the Mobile Link app.

This is the second integration between ecobee and Generac – ecobee smart thermostats released since 2014 are already compatible with Generac home standby generators – as the companies look toward making energy management more seamless and convenient.

“This integration marks another milestone in our goal to create a single energy hub for the home,” said Kyle Raabe, executive vice president of Consumer Power at Generac Power Systems. “By integrating fuel monitoring and ecobee smart thermostats, we’re helping customers simplify monitoring their home’s energy needs and giving peace of mind that their generators are ready to power on in an outage.”

For more information about ecobee smart thermostats, visit www.ecobee.com. For more information about Generac home standby generators or Generac Propane Tank Monitors, visit www.generac.com.

About ecobee

ecobee Inc. was founded in 2007 with a mission to improve everyday life while creating a more sustainable world. Since launching the world’s first smart thermostat, ecobee has helped customers across North America save more than 28 TWh of energy, which is the equivalent of taking all the homes in Los Angeles and Chicago off the grid for a year. Today, ecobee continues to innovate with smart home solutions that solve everyday problems with comfort, security, and conservation in mind. With ecobee’s devices and services, including the Smart Security system and the award-winning Smart Thermostat Premium, ecobee continues to encourage Smart Owners to imagine what home could be. In 2021, ecobee joined Generac Holdings Inc. (NYSE: GNRC), a leading global designer and manufacturer of energy technology solutions, and other power products. Generac and ecobee share a vision to deliver a cleaner and more sustainable energy future for customers and communities. The Generac and ecobee home of the future will be more comfortable, secure, resilient, and efficient.

About Generac

Generac Power Systems, Inc. (NYSE: GNRC) is a leading energy technology company that provides advanced power grid software solutions, backup and prime power systems for home and industrial applications, solar + battery storage solutions, virtual power plant platforms and engine- and battery-powered tools and equipment. Founded in 1959, Generac introduced the first affordable backup generator and later created the category of automatic home standby generator. The company is committed to sustainable, cleaner energy products poised to revolutionize the 21st century electrical grid.

Contacts

Press:
Fatima Reyes, Senior Communications Manager, ecobee

press@ecobee.com

Group O’Dell Real Estate Team, The Andy Blake Group, Applebaum KC Homes and Long Real Estate Team bring more than 9,000 home sales valued at $2.5 billion

TORONTO & NEW YORK–(BUSINESS WIRE)–In a move that turbocharges Real’s presence throughout the Kansas City metropolitan area, four of the market’s top producing teams – Group O’Dell Real Estate Team, The Andy Blake Group, Applebaum KC Homes and Long Real Estate – recently joined forces to make the move to The Real Brokerage Inc. (NASDAQ: REAX). Real, the fastest-growing, publicly traded real estate brokerage, announced the moves today.

Collectively, these teams have sold more than 9,000 homes for a combined value of $2.5 billion. Each brand is well-known throughout the region for their emphasis on relationship building which they leverage to drive repeat and referral business.

“Dan, Maria, Mike, Andy, Jeremy and Tony are all top producers who have each built successful businesses in their own right. By coordinating their collective move, they have transformed Real into a market leader in Kansas City overnight and are making a clear statement that Real offers the best platform for them and other agents to succeed,” said Sharran Srivatsaa, President of Real. “We couldn’t be more pleased to welcome each of them and their teams to the Real family and have them represent the Real brand.”

Group O’Dell Real Estate Team

Led by the husband and wife team of Dan and Maria O’Dell and their son, Mike, Group O’Dell has been a fixture in Kansas City real estate for nearly three decades. Their approach to serve, teach and create long-term relationships has resulted in the sale of more than 5,000 homes valued at $1.5 billion since 1995. In 2022, the seven-agent team ranked No. 5 on the Kansas City Business Journal’s annual ranking of real estate agents based on more than 260 home sales valued at $117 million. Dan and Maria are certified mentors by Buffini & Company, the world’s largest real estate coaching company.

“Few times in life are you able to be at the forefront of something life-changing,” Dan O’Dell said about his team’s decision to join Real. “We’ve spent our careers serving our clients by selling one house at a time and giving back by coaching others to make the industry better. Real will allow us to continue to do all that on a bigger platform, while exposing our team to the best training so they stay ahead of the curve.”

The Andy Blake Group

Ranked No, 14 by the Kansas City Business Journal based on 250 home sales totaling $85 million in 2022, Andy Blake bought his first home as an investment at age 22. He earned his real estate license in 2007, and has grown his business exclusively through word of mouth. Since forming The Andy Blake Group in 2013, the nine-agent team has sold more than 1,600 homes valued at more than $500 million.

“Real’s cloud-based model is where the real estate industry is going and the company’s model is attractive to top producers,” Blake said. “In addition to joining forces with three Kansas City teams who have built a reputation for doing business the right way, being a part of Real provides an opportunity to be around thousands of like-minded people who take pride in their business.”

Applebaum KC Homes

Run by the husband and wife team of Jeremy and Liron Applebaum, Applebaum KC Homes bring four agents to Real. Jeremy began his real estate career in 1996 working for American Dream Homes, one of Kansas City’s largest home builders, which was founded by his father, Victor Applebaum. It’s this homebuilding experience and ability to determine what needs to be addressed at a property that has differentiated him with buyers and sellers and enabled him to build a business based solely on referrals. Applebaum KC Homes sold more than 125 homes valued at approximately $50 million in 2022, placing the team at No. 34 on the Kansas City Business Journal’s annual ranking of top real estate professionals. Since 2012, KC Applebaum Homes has sold more than 1,300 homes.

“Real’s been on our radar for more than a year as a company that is doing things differently. We were especially attracted to the company’s culture of cooperation and collaboration from coast to coast. The business and market are changing and Real offers the platform to learn from the best as well as share what works and what doesn’t with others,” Jeremy Applebaum said. “For us, it was important to partner with other top producers to grow our business and those of agents around us. What we are doing with the Group O’Dell, Andy Blake Group and Long Real Estate allows us to show Kansas City how top producers are coming together to form one big family to move the industry forward into its next chapter.”

Long Real Estate

An 18-year industry veteran, Tony Long joined Group O’Dell as an agent following his graduation from college. He formed Long Real Estate five years later in 2013. The four-agent team, which also includes top producers David Barraza, Chad Green and Adrienne Towner, prides itself on building a successful relationship-based business. Since 2006, Long Real Estate has sold more than 1,100 homes, including 130 valued at $48 million in 2022, ranking the team in the top 1% in the region.

“The future of real estate is cloud-based, and Real offers a culture where agents are encouraged to cooperate with and learn from each other,” Long said. “Real also provides the tools that allow agents to not just sell a bunch of homes today, but also plan for their financial future through stock options and revenue-sharing.”

About Real

Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports more than 13,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding Real’s ability to continue to attract agents. Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets, economic and industry downturns and Real’s ability to attract new agents and retain current agents. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Contacts

Investor inquiries:

Ravi Jani

Vice President, Investor Relations and Financial Planning & Analysis

investors@therealbrokerage.com
908.280.2515

For media inquiries, please contact:

Elisabeth Warrick

Senior Director, Marketing, Communications & Brand

elisabeth@therealbrokerage.com
201.564.4221

Or

Janice McDill

Janice.mcdill@therealbrokerage.com
312.307.3134