Mr. An anonymous trustee reports

LANESBOROUGH REIT ANNOUNCES THIRD ADJOURNMENT OF ITS PREVIOUSLY ANNOUNCED SPECIAL MEETING OF DEBENTUREHOLDERS

The holders of Lanesborough Real Estate Investment Trust's outstanding 5.00-per-cent Series G redeemable subordinated secured debentures due June 30, 2022, passed a motion at the special meeting of the debentureholders held today adjourning the meeting until Feb. 11, 2022, at 3 p.m. CT. The deadline for depositing proxies for the adjourned meeting is now Feb. 10, 2022, at 5:30 p.m. ET.

At the meeting, the debentureholders will consider an extraordinary resolution approving the exchange of the debentures, and all the accrued or unpaid interest owing thereon from and including Jan. 1, 2016, to but not including the date of the exchange, for trust units in the capital of LREIT. Further information about the exchange transaction is described in the information circular of LREIT dated Nov. 22, 2021, sent to debentureholders with respect to the exchange transaction, as well as in other LREIT continuous disclosure filings available on SEDAR.

About Lanesborough Real Estate Investment Trust

Lanesborough is a real estate investment trust, which is listed on the TSX Venture Exchange under the symbols LRT.UN (trust units) and LRT.DB.G (Series G debentures).

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