NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
TORONTO, Sept. 04, 2020 (GLOBE NEWSWIRE) — WPT Industrial Real Estate Investment Trust (the “REIT”) (TSX:WIR.U, WIR.UN – OTCQX: WPTIF) announced today that it has established an at-the-market equity program (the “ATM Program”). The ATM Program allows the REIT to issue, at its discretion, up to U.S.$150,000,000 (or the equivalent in Canadian dollars) of trust units of the REIT (the “REIT Units”) to the public from time to time through the Agents (as defined below), at the prevailing market price when issued, directly on the Toronto Stock Exchange (the “TSX”) or any other recognized marketplace upon which the REIT Units are listed or quoted or where the REIT Units are traded in Canada.The ATM Program will be effective until January 6, 2022 unless terminated prior to such date by the REIT or otherwise in accordance with the terms of an equity distribution agreement dated September 4, 2020 (the “Equity Distribution Agreement”) among the REIT and Desjardins Capital Markets, BMO Capital Markets and RBC Capital Markets (the “Agents”). The REIT intends to use the net proceeds from the ATM Program, if any, to fund acquisitions, for repayment of indebtedness, as a source to fund the REIT’s future value-add and development investments and for general working capital purposes.“Following the recent changes to the rules applicable to at-the-market offerings in Canada which took effect on August 31, 2020, we believe the addition of the ATM Program will add further flexibility and efficiency to the REIT’s future equity financing strategies,” commented Scott Frederiksen, Chief Executive Officer.   Since the REIT Units will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers and during the period of distribution. The ATM Program is being established by way of a prospectus supplement dated September 4, 2020 (the “Prospectus Supplement”) to the REIT’s short form base shelf prospectus dated December 5, 2019 (the “Shelf Prospectus”). Further information regarding the ATM Program, including related risk factors, are set out in the Prospectus Supplement. The Prospectus Supplement, Shelf Prospectus and Equity Distribution Agreement are available on SEDAR at www.sedar.com.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The REIT Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the “1933 Act”) and may not be offered, sold or delivered, directly or indirectly, in the United States, or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act.About WPT Industrial Real Estate Investment TrustWPT Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT acquires, develops, and manages industrial properties located in the United States, with a particular focus on warehouse and distribution properties. WPT Industrial, LP (the REIT’s operating subsidiary) indirectly owns a portfolio of properties across 20 states in the United States consisting of approximately 31.8 million square feet of gross leasable area, comprised of 100 industrial properties.Caution Regarding Forward Looking InformationThis press release contains “forward-looking information” as defined under applicable Canadian securities law (“forward-looking information” or “forward-looking statements”). Such statements reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words “plans”, “expects”, “scheduled”, “estimates”, “intends”, “anticipates”, “projects”, “believes” or variations of such words and phrases (including negative variations) or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved” or “continue” and similar expressions identify forward-looking statements. Some of the specific forward-looking statements in this press release include, but are not limited to, statements with respect to REIT’s intended use of proceeds from the ATM Program, if any, the anticipated sale and distribution of REIT Units under the ATM Program and the volume and timing of the sale and distribution of REIT Units under the ATM Program. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management of the REIT as of the date of this press release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such estimates, beliefs and assumptions include expectations concerning the desirability of distributing REIT Units under the ATM Program, capital market performance, the anticipated amounts of expenses, anticipated amounts of base rent, tenant creditworthiness, results of operations, future prospects and opportunities, the demographic and industry trends remaining unchanged, no change in legislative or regulatory matters, future levels of indebtedness, the tax laws as currently in effect remaining unchanged, the continual availability of capital, the current economic conditions remaining unchanged, and continued positive net absorption and declining vacancy rates in the markets in which the REIT’s properties are located.When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved, if achieved at all. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed or referenced under “Risk Factors” in the REIT’s annual information form for the year ended December 31, 2019 and the REIT’s management’s discussion and analysis for the three and six months ended June 30, 2020, each of which is available under the REIT’s profile on SEDAR at www.sedar.com. These forward-looking statements have been approved by management to be made as of the date of this press release and, except as expressly required by applicable law, the REIT assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.For More Information, please contact:Scott Frederiksen, Chief Executive Officer 
WPT Industrial Real Estate Investment Trust
Tel: (612) 800-8501

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