/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
WINNIPEG, MB ,
Dec. 31, 2021 /CNW/ - Marwest
Apartment Real Estate Investment Trust ("Marwest Apartment
REIT" or the "REIT") (TSXV: MAR.UN) announces the
issuance of deferred units of the REIT ("Deferred Units") to
certain of its trustees for the period of October 1, 2021 through December 31, 2021, effective today, in accordance
with REIT's equity incentive plan adopted effective April 30, 2021 (the "Equity Incentive
Plan") and the REIT's policy regarding the automatic settlement
of trustee compensation in Deferred Units.
The compensation payable to the trustees for the period noted
(other than meeting fees which were paid in cash) was settled
entirely in Deferred Units at a price of $1.10 per Deferred Unit. Mr. Luke Cain, Chair, was issued 7,561 Deferred
Units, Mr. Jason Pellaers, Chair of
the Audit Committee, was issued 6,415 Deferred Units, Mr.
Cornelius Martens was issued 4,124
Deferred Units and Mr. James Green
was issued 4,124 Deferred Units, reflecting monetary compensation
of $8,317.10, $7,056.50, $4,536.40 and $4,536.40, respectively, rounded to the nearest
In accordance with the Equity Incentive Plan, each Deferred Unit
is accompanied by a special voting unit of the REIT.
About Marwest Apartment REIT
The REIT is an unincorporated open-ended trust governed by the
laws of the Province of Manitoba.
The REIT was formed to provide Unitholders with the opportunity to
invest in the Canadian multi-family rental sector through the
ownership of high-quality income-producing properties, with an
initial focus on stable markets throughout Western Canada.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this news release.
SOURCE Marwest Apartment Real Estate Investment Trust