Slate Office REIT Announces a Firm Offer to Acquire C$254.8 Million Irish Entity That Owns a Portfolio of Office, Life Sciences and Lite-Industrial Real Estate in Ireland and Closing of C$130.0 Million Bought Deal Offering

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TORONTO, Nov. 19, 2021 (GLOBE NEWSWIRE) -- Slate Office REIT (TSX: SOT.UN) (the “REIT”), an owner and operator of office real estate, announced today a Firm Offer¹ to acquire an Irish entity and the closing of its previously announced public offering of 11,225,000 subscription receipts of the REIT (“Subscription Receipts”) at a price of C$4.90 per Subscription Receipt for gross proceeds of approximately C$55.0 million and C$75.0 million aggregate principal amount of 5.50% extendible convertible unsecured subordinated debentures (the “Debentures”) (collectively, the “Offering”). The Offering was conducted on a bought deal basis by a syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets. The Subscription Receipts and the Debentures will commence trading today on the Toronto Stock Exchange under the ticker symbols SOT.R and SOT.DB.A, respectively.