Eleven Evergreen Limited Partnership Announces Limited Partner Approval of Proposed Sale of Its Property and Subsequent Dissolution

WINNIPEG, July 5, 2017 /CNW/ - Eleven Evergreen Limited Partnership (the "Partnership") announced today that at the meeting held on July 3, 2017, its Limited Partners passed a special resolution approving: (i) the acceptance of the offer to purchase (the "Offer to Purchase") received from 7254751 Manitoba Ltd. (the "Purchaser"), an affiliate of Shelter Canadian Properties Limited, to purchase a 100% interest (including the Limited Partnership's interest) in the land and building located at 11 Evergreen Place in Winnipeg Manitoba for a purchase price of $26,380,000, subject to customary closing adjustments (the "Transaction"), as more particularly described in the accompanying management information circular dated May 26, 2017 (the "Information Circular"); (ii) the completion of the Transaction; and (ii) following the completion of the Transaction, the dissolution of the Limited Partnership and payments to Limited Partners (including payment of 61.6% of the net cash proceeds of the Proposed Transaction to the Limited Partners), in accordance with Section 10.02 of the Limited Partnership Agreement of the Partnership.

The Transaction is expected to close in August, 2017.

SOURCE Eleven Evergreen Limited Partnership

For further information: please contact Mr. Gino Romagnoli of Shelter Canadian Properties Limited at (204) 475-9090.

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Eleven Evergreen Limited Partnership

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