Press release

Subversive Real Estate Acquisition REIT Lists On NEO

Sponsored by Businesswire

NEO is pleased to announce that Subversive Real Estate Acquisition REIT LP (“REIT LP”), a newly established Ontario limited partnership and a Special Purpose Acquisition Corporation (“SPAC”) for the purposes of the rules of the NEO Exchange, made its Canadian public markets debut today on the NEO Exchange. REIT LP, which closed its US$200,000,000 initial public offering, began trading its Class A Restricted Voting Units (the “Units”) (NEO:SVX.UN) today. Each Unit comprises one restricted voting unit (“Restricted Unit”) and one right (“Right”). The Units are expected to trade for 40 days after the closing of the initial public offering before separating into a Restricted Unit and a Right. Following separation, the Restricted Units and Rights will trade under the symbols SVX.U and SVX.RT.U, respectively.

The REIT LP’s initial qualifying transaction may focus on the direct or indirect acquisition, ownership and management of real estate assets in the cannabis industry and/or those closely associated with the cannabis industry. This is the seventh cannabis-focused SPAC to list on NEO and the second NEO-listed SPAC from Subversive, following the Subversive Capital Acquisition Corp. (NEO:SVC.A.U, SVC.WT.U) that completed the largest SPAC IPO in Canadian history of US$575,000,000 in July 2019. The REIT LP is also sponsored by an affiliate of The Inception Companies.

“We are proud to list our innovative REIT-SPAC on NEO, the leading Canadian stock exchange in SPAC listings. Leveraging its extensive experience and prior success as a senior exchange supporting SPACs and U.S. cannabis listings, NEO’s team provided us with expertise to list under an exceptionally short timeline and at a critical inflection point in the cannabis industry,” said Richard Acosta, Chief Executive Officer and Director of the REIT LP’s general partner.

“Innovation and exceptional service to the benefit of investors and capital-raisers is what drives our organization,” added Jos Schmitt, President and CEO of NEO. “Having the privilege to see Subversive come back to us with a second innovative SPAC is a testimony to what makes our exchange unique and different. We are committed to continuing to live up to these standards.”

Investors can trade shares of SVX.UN through their usual investment channels, including discount brokerage platforms and full-service dealers. The NEO Exchange is now home to over 90 corporate and ETF listings, and consistently facilitates over 10 percent of all Canadian trading volume. Click here for a complete view of all NEO-listed securities.

About NEO Exchange

Neo Exchange Inc. is a progressive stock market that brings together investors and capital raisers within a fair and transparent environment. Fully operational since June 2015, NEO puts investors first and provides access to trading all Canadian-listed securities on a level playing field. The NEO Exchange lists senior companies and investment products who want a stock exchange that enables investor trust, quality liquidity and broad awareness, including unfettered access to market data. For more information, please visit:

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