Taggart Capital Corp. announced that it signed an agreement on November 19, 2012 with CANMARC Real Estate Investment Trust which contemplates a series of transactions. As a result of the proposed change in management, it is anticipated that there will be a change to the insiders of the company such that the current officers and directors of the company will resign and be replaced by the new management team and a new board at closing of the qualifying transaction.

The new management team of the resulting issuer will consist of: James W. Beckerleg, who will serve as President, Chief Executive Officer and Director, Gordon G. Lawlor who will serve as Chief Financial Officer and Director, and Vitale A. Santoro who will serve as Corporate Secretary. In addition, two independent directors will be appointed. John Levitt will serve as Independent Director and Chairman of the Board, and Gérard A. Limoges will serve as Independent Director and Chair of the Audit Committee.

Until recently, Messrs. Beckerleg and Lawlor were members of the executive team of CANMARC. Mr. Beckerleg served as President, Chief Executive Officer and Trustee and Mr. Lawlor held the position of Executive Vice-President, Chief Financial Officer and Secretary of CANMARC.

Mr. Beckerleg was President of Belwest Capital Management Corp. From 2005 to 2010, Mr. Lawlor held senior management positions, including that of Chief Financial Officer, with Homburg Canada Inc. Vitale A. Santoro is a partner in the corporate department of the Montreal office of Osler, Hoskin & Harcourt LLP. From May 2010 until recently, John Levitt was an Independent Trustee of CANMARC and served on several committees during his time with CANMARC, including the Audit Committee, the Governance and Nominating Committee, and the Investment Committee.

Mr. Levitt is currently a partner at EDEV Real Estate Advisors. From May 2010 until recently, Gérard A. Limoges was an Independent Trustee of CANMARC and served on several committees during his time with CANMARC, including the Audit Committee (as Chair), the Governance and Nominating Committee, and the Compensation Committee. Gérard A. Limoges is currently a corporate director and sits on the board of directors of several public companies.

He was formerly deputy Chairman of Ernst & Young Canada until retirement in September 1999.