Halmont Properties Corporation Normal Course Issuer Bid

TORONTO, Dec. 07, 2022 (GLOBE NEWSWIRE) -- HALMONT PROPERTIES CORPORATION (TSX-V: HMT) (“Halmont” or the “Company”) announced today that the Company’s notice of intention filed with the Toronto Venture Exchange (“TSXV”) to purchase for cancellation up to 4,197,000 Class A common shares representing 5% of the 83,940,000 Class A common shares outstanding as of December 7, 2022, has been approved.

Purchases under the bid will be made through the facilities of the TSXV. The period for the normal course issuers bid will extend from December 14, 2022 to December 13, 2023. Halmont will pay the market price at the time of acquisition for any shares purchased facilitated by RBC Capital Markets. The Company believes that repurchasing shares at the prevailing market prices from time to time is a worthwhile use of funds and in the best interest of the Company and its shareholders. The actual number of Class A shares purchased, if any, and the timing of such purchases will be determined by Halmont, considering market conditions, share prices, its cash position, and other factors.

Shareholders may obtain a copy of the notice, without charge, by contacting Halmont.

Halmont Properties Corporation invests directly in real assets including commercial, forest, and residential properties.

This news release includes certain forward-looking statements including management’s assessment of the Company’s future plans and operations based on current views and expectations. All statements other than statements of historic facts are forward looking statements. These statements contain substantial known and unknown risks and uncertainties, some of which are beyond the Company’s control. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. Readers should not place undue reliance on these forward-looking statements which represent estimates and assumptions only as of the date on which such statements are made. The Company undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.

For additional information:

Heather M. Fitzpatrick

President

T: 647-448-7147