Toronto, Ontario--(Newsfile Corp. - October 2, 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 October, 2023 (the "Distribution"). The Distribution will be paid on October 16, 2023 to unitholders of record as at October 9, 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.

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