January 04, 2022

Nova Net Lease REIT IPO

Goodmans LLP acted for Nova Net Lease REIT ("NOVA" or the "REIT") (CSE: NNL.U), Canada's first Cannabis REIT, in connection with its initial public offering of 3,167,478 trust units (the "Units") at a price of US$1.25 per Unit (the "Offering").

The Offering raised gross proceeds of approximately US$4.0 million. The Units will begin trading on the Canadian Securities Exchange today under the symbol "NNL.U".

The REIT has been formed to acquire specialized industrial and retail properties leased to experienced, top-tier, creditworthy state-licensed operators for their Regulated Cannabis facilities ("Licensed Facilities") in the United States, and is the only Canadian publicly listed REIT exclusively addressing US regulated cannabis real estate. Significantly, Nova is the first Cannabis REIT in Canada.

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