Nexus REIT Establishes At-The-Market Equity Program

/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR
DISSEMINATION IN THE UNITED STATES/

TORONTO and MONTREAL, Sept. 24, 2021 (GLOBE NEWSWIRE) — Nexus Real Estate Investment Trust (TSX: NXR.UN) (“Nexus” or the “REIT”) announced today that it has established a $50 million at-the-market equity program (the “ATM Program”).

The ATM Program allows the REIT to issue, at its discretion, up to $50,000,000 of trust units of the REIT (the “REIT Units”) to the public from time to time. Distributions of REIT Units pursuant to the ATM Program, if any, will be made in accordance with the terms of an equity distribution agreement dated September 24, 2021 (the “Equity Distribution Agreement”) among the REIT, BMO Capital Markets and Desjardins Capital Markets. Units sold under the ATM Program will be sold directly on the Toronto Stock Exchange, or such other recognized marketplaces to the extent permitted, at prevailing market prices at the time of sale. The ATM Program will be effective until August 17, 2023, unless previously terminated under terms of the Equity Distribution Agreement. The REIT intends to use the net proceeds from REIT Units sold under the ATM Program, if any, to fund acquisitions, repay indebtedness, to fund development investments and for general working capital purposes.

The volume and timing of distributions under the ATM Program, if any, will be determined at the REIT’s sole discretion. Since the REIT Units distributed pursuant to the ATM Program will be distributed to the public at prevailing market prices at the time of sale, prices may vary among purchasers and during the period of distribution.

The ATM program has been established pursuant to a prospectus supplement dated September 24, 2021 (the “Prospectus Supplement”) to the REIT’s short form base shelf prospectus dated July 16, 2021 (the “Base Shelf Prospectus”). Further details of the ATM Program are set out in the Prospectus Supplement. The Prospectus Supplement, Base Shelf Prospectus and Equity Distribution Agreement are available on SEDAR at www.sedar.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The REIT Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the “1933 Act”) and may not be offered, sold or delivered, directly or indirectly, in the United States, or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act.

About Nexus REIT

Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada and potentially including the United States, and the ownership and management of its portfolio of properties. The REIT currently owns a portfolio of 90 properties comprising approximately 6.8 million square feet of gross leasable area. The REIT has approximately 43,795,000 Units issued and outstanding. Additionally, there are Class B LP Units of subsidiary limited partnerships of Nexus issued and outstanding, which are convertible into approximately 16,400,000 Units.

Forward Looking Statements

Certain statements contained in this news release constitute forward-looking statements which reflect the REIT’s current expectations and projections about future results. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the REIT to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Such forward-looking statements are based on a number of assumptions that may prove to be incorrect.

While the REIT anticipates that subsequent events and developments may cause its views to change, the REIT specifically disclaims any obligation to update these forward-looking statements except as required by applicable law. These forward-looking statements should not be relied upon as representing the REIT’s views as of any date subsequent to the date of this news release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the REIT.

For further information please contact:

Kelly Hanczyk, CEO at (416) 906-2379; or
Rob Chiasson, CFO at (416) 613-1262.