Walton Global, a leading asset management and global real estate investment company, is pleased to announce the distribution of CAD $1,348,057.03 by McConachie Asset Management Corporation. This represents a distribution of $0.19 per unit. The Corporation has made principal and interest payments to date totaling CAD $68,006,214. 

The remaining receivables are related to a joint venture with Royal West Homes for a multi-family residential site, as well as a sale to the City of Edmonton for the development of a future school site, pursuant to the Municipal Government Act. An associated multi-family residential development is McConachie Heights, a nearly 80-acre development by Anthem Homes that features over 100 acres of green space, easy access to retail including the Londonderry Mall, and many other amenities. 

These payments will be the final necessary steps to complete the wind-up of the entity and make the final distribution. The sale to the City of Edmonton is expected to close in Q3 2024 and will be distributed to investors upon receipt. 

All development obligations were completed in Q4 2023, allowing for the final recoveries to be collected along with the release and discharge of the cash-secured letters of credit in Q1 2024. 

Additional proceeds are anticipated to be received throughout 2024 and 2025; however, they will be subject to the market.