Mr. Eric Fazilleau reports
REALIA PROPERTIES INC. ANNOUNCES PROPOSED SALE OF BOND
Realia Properties Inc. entered into an agreement dated effective March 20,
2026, with an arm's-length party, pursuant to which the company proposes to sell an 8.25 per cent
secured bond with a principal amount of $6,785,000 (U.S.) for the face value,
subject to the terms and conditions thereunder.
The bond was issued by Primos Alternative Investments and secured by an interest in
development proceeds owing to it by T-Westbrook Center LLC with respect to a commercial retail
centre located in Connecticut. The bond was first acquired by the company to preserve an
investment opportunity in said real estate asset. As the Connecticut retail centre has encountered
significant development issues since the bond issue, the company proposes to sell the bond for
its face value.
Completion of the proposed sale is conditional upon, among other things, the company receiving
all required prior approvals from its shareholders and the TSX Venture Exchange. There is no
assurance nor guarantee that the company will complete the proposed sale as described or at
all. The proposed sale will be presented to the company's shareholders for approval at its
upcoming AGM (annual general meeting) to be held on April 28, 2026.
In the event that the bond is sold as described and if the proposed sale of the company's real
estate assets is completed as announced in its news release dated Feb. 6, 2026, the company will have no other assets other than the sales proceeds received. While the company
intends to use such proceeds to identify and, if thought desirable, to acquire new real estate
assets, there is no assurance or guarantee that the company will do so, in which event the
company will have no active operations.
The company will provide further updates as they become available.
About Realia Properties Inc.
Realia is a real estate issuer that currently holds the following assets:
-
A 25.01-per-cent beneficial interest in Martin Downs Town Center, a 36,252-square-foot retail
shopping centre, located in Palm City, Fla.;
- A 25.01-per-cent beneficial interest in Metro Gateway Shopping Center, a 64,793-square-foot
retail shopping centre, located in Phoenix, Ariz.
The company has entered into an agreement with respect to the proposed sale of such assets. There is no assurance nor guarantee that such sale will be completed on the
terms/conditions described above or at all.
We seek Safe Harbor.
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