Toronto, Ontario--(Newsfile Corp. - May 1, 2023) - Pine Trail Real Estate Investment Trust (TSXV: PINE.UN) (TSXV: PINE.U) (the "REIT") announces that it has declared a distribution of $0.00030 per trust unit (TSXV: PINE.UN) (TSXV: PINE.U) for the month of May, 2023 (the "Distribution"). The Distribution will be paid on May 15, 2023 to unitholders of record as at May 8, 2023.

FOR FURTHER INFORMATION, PLEASE CONTACT: Andrew Shapack, Chief Executive Officer: (416) 532-2200

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION IN THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit