/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
WINNIPEG, MB, June 30,
2022 /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 April 1, 2022 through June 30, 2022, 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 by
issuing approximately 50 percent of the total compensation in
Deferred Units at a price of $1.10
per Deferred Unit. Mr. Luke
Cain, Chair, was issued 4,533 Deferred Units, Mr.
Jason Pellaers, Chair of the Audit
Committee, was issued 3,626 Deferred Units, Mr. James Green, Chair of the Governance,
Compensation and Nominating Committee, was issued 3,399 Deferred
Units, and Mr. Cornelius Martens was
issued 2,266 Deferred Units reflecting monetary compensation of
$4,986.30, $3,988.60, $3,738.90 and $2,492.60, respectively, rounded to the nearest
unit. The balance of the compensation was paid in cash in the
amounts of $4,986.30, $3,989.48, $3,740.55 and $2,493.70 respectively.
About Marwest Apartment
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