R&R REIT Issues Units to its Non-Executive Trustees and Deferred Units to an Executive Officer

MISSISSAUGA, ON, Dec. 20, 2021 /CNW/ - R&R Real Estate Investment Trust (TSXV: RRR.UN) (the "REIT") announces today that it has issued 1,525,200 trust units to its non-executive trustees at an average price of $0.05 per trust unit in accordance with the REIT's Non-Executive Trustee Issuance Plan, pursuant to which non-executive trustees can elect to receive up to 100% of their base annual retainer and certain other retainers in trust units. The number of trust units issuable was calculated by reference to the weighted average of the trading price for the trust units on the TSXV for the five trading days immediately following the relevant fiscal quarter end. The trust units that were issued are subject to a four month hold period.

The REIT also announces today that it has issued 382,290 deferred trust units to an executive officer at a price of $0.05 per deferred trust unit in accordance with the REIT's long-term incentive plan. One third of the deferred trust units granted will vest annually on the anniversary of the award date.

About R&R REIT

R&R REIT is an open-ended real estate investment trust focused on increasing unitholder value through the acquisition and ownership of hotel properties located in the United States.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE R&R Real Estate Investment Trust

please contact Bob Choo, Chief Financial Officer, R&R Real Estate Investment Trust, 905-206-7102, or e-mail [email protected].