Mr. Behzad Khosrowshahi reports

DRI HEALTHCARE TRUST CLOSES PREVIOUSLY ANNOUNCED REFINANCING OF PREFERRED SECURITIES

DRI Healthcare Trust has closed its previously announced preferred securities refinancing, whereby its $114.76-million (U.S.) aggregate principal amount of Series A and Series B preferred securities and 6,369,180 warrants were exchanged for $135,202,000 (U.S.) aggregate principal amount of new Series C preferred securities and 1,749,996 new warrants. The new warrants have an exercise price of $15 (U.S.), representing a 20-per-cent premium to the five-day volume-weighted average price of the trust's units.

"We will continue to seek to optimize our capital structure to lower our cost of capital," said Behzad Khosrowshahi, chief executive officer of the trust. "We have addressed potential dilution concerns by retiring approximately 6.4 million in-the-money warrants and replacing them with approximately 1.7 million out-of-the-money warrants. The transaction did not involve any cash out from the trust, and our fully diluted share count is reduced by 4.6 million or 8.2 per cent of units outstanding, following the transaction."

Scotia Capital Inc. acted as exclusive financial adviser to the trust.

About DRI Healthcare Trust

DRI Healthcare Trust is managed by DRI Capital Inc. (DRI Healthcare), the pioneer in global pharmaceutical royalty monetization with a 35-year history of accelerating innovation by providing capital to inventors, academic institutions and biopharma companies. Since its founding in 1989, DRI Healthcare has deployed more than $3.0-billion (U.S.), acquiring more than 70 royalties on 45 plus drugs, including Eylea, Keytruda, Orserdu, Spinraza, Stelara, Vonjo, Zejula and Zytiga. DRI Healthcare Trust's units are listed and trade on the Toronto Stock Exchange in Canadian dollars under the symbol DHT.UN and in U.S. dollars under the symbol DHT.U.