Flagship Communities Real Estate Investment Trust

Canaccord Genuity Acts as Co-Bookrunner to Flagship Communities Real Estate Investment Trust on its US$60 Million Bought Deal Shelf Prospectus Offering of Trust Units

Canaccord Genuity is pleased to announce that on April 24, 2024, its client, Flagship Communities Real Estate Investment Trust (“Flagship” or the “Company”)(TSX:MHC.UN; OTCPK:MHCU.F) successfully announced the closing of its “bought deal” offering by way of prospectus supplement consisting of 3,910,000 trust units of the Company at a price of US$15.35 per trust unit for gross proceeds of US$60,018,500 (the “Offering”).

The Company intends to use the net proceeds from the Offering to fund a portion of the approximately US$93 million aggregate purchase price for the REIT's previously announced acquisition of seven manufactured housing communities comprising 1,253 lots (the "Acquisitions") and for general business purposes.

Canaccord Genuity acted as co-lead underwriter and co-bookrunner to Flagship.

Flagship Communities Real Estate Investment Trust is a leading operator of affordable residential Manufactured Housing Communities primarily serving working families seeking affordable home ownership. Flagship owns and operates exceptional residential living experiences and investment opportunities in family-oriented communities in Kentucky, Indiana, Ohio, Tennessee, Arkansas, Missouri, and Illinois.