Société Immobilière Maestri Terra Inc. (the " Manager") will be the property and asset manager of Nobel REIT pursuant to a property and asset management agreement to be entered into between Nobel REIT, directly or through one of its affiliates, and the Manager. The Manager is a corporation controlled by Jean-Guy Parent, Yves Maurais and Jean Teasdale, which are directors of the Corporation.
There will be no changes to the insiders of the Corporation as a result of the Proposed Transaction. The officers of the Corporation are Jean Teasdale, Chief Executive Officer and Yves Maurais, Chief Financial Officer. The directors of the Corporation are Jean Teasdale, Yves Maurais, Bernard Grandmont, Jean-Guy Parent and Jacques Girard.
Upon completion of the proposed Qualifying Transaction, the resulting issuer, Nobel REIT, is expected to meet all of the minimum listing requirements for a Tier 2 Real Estate Issuer. It is anticipated that the trustees of Nobel REIT will be Jacques Girard (Chairman of the board of trustees), Jean Teasdale (President and Chief Executive Officer), Bernard Grandmont, Jean-Guy Parent, Yves Maurais, Serge Riopel and Alfred Corriveau and that the Chief Financial Officer of Nobel REIT will be Luc Legros. The background of each trustee and executive officer of Nobel REIT is described below and will be contained in the Corporation's management information circular which will also be available on SEDAR at www.sedar.com.
Description of Target PropertiesThe first property, located at 1185-1195 Chemin du Tremblay, Longueuil, Québec, is a mixed-used property constructed in 2007 comprising two buildings and located in the heart of Longueuil's commercial area, at the intersection of boulevard Roland-Therrien and Chemin du Tremblay. The 2-storey buildings feature 53,126 square feet of rentable area and are situated on approximately 172,000 square feet of land, with 219 outdoor parking spaces. The property is presently 94% leased. One of buildings, totalling 10,250 square feet, is fully leased to Services Canada until 2018. The principal tenant of the other building is Avril Supermarket until 2017. This second property is an office building located at 1190 Place Nobel, Boucherville, in the commercial zone of the 20/20. It is located at the intersection of the highway 20 and Volta Street, providing primary visibility and accessibility to major arterials (highways 20, 30 and 132). The three-storey building was built in 2003, using geothermal techniques and high quality material. It is situated on 37,466 square feet of land and comprises 18,976 square feet of rentable area and 61 outdoor parking spaces. The property is currently 100% leased and the principal tenant is Intercom Real Estate Services, which leases 9,995 square feet under a lease expiring in 2022. Shareholder Meeting to be Announced The Corporation intends to fix a date for a shareholder meeting to consider approval of the Qualifying Transaction and to mail a management information circular to shareholders in connection therewith following receipt of conditional approval for the Qualifying Transaction from the TSXV.