Slate Office REIT announced that the Board has determined to suspend the REIT's monthly cash distribution. The distribution suspension is expected to provide the REIT with an additional CAD 10.2 million of cash annually, which will be used for the paydown of debt and the funding of ongoing business operations. The suspension of the REIT?s distribution will be effective beginning with the REIT's distribution that would have otherwise been declared for the month of November 2023 and would have otherwise been payable to unitholders in December 2023.

The Board will continue to monitor the REIT?s financial performance, operating environment, and progress with its Portfolio Realignment Plan to determine when it is appropriate to reinstate a regular cash distribution.