Mr. Victor Diab reports

LFL TO ACQUIRE REMAINING INTEREST IN EDMONTON DISTRIBUTION CENTRE

Leon's Furniture Ltd. has entered into an agreement to acquire the remaining 50-per-cent interest in its Edmonton distribution centre, which also serves as The Brick's corporate headquarters, increasing its ownership interest to 100 per cent.

Under the terms of the agreement, Leon's Furniture will acquire the remaining interest in the facility from North 170 DC Ltd., a subsidiary of Qualico Properties, for $45.75-million in cash. The transaction is expected to close on Oct. 1, 2026.

"This is a high-quality, well-located asset that is already core to how we operate in Western Canada," said Mike Walsh, president and chief executive officer of Leon's Furniture. "Since opening, the facility has expanded our distribution capabilities in the region, driven enhancements in product availability and service levels, and given us the capacity to support future growth. Increasing our ownership reflects a disciplined investment in an asset we know well that plays a central role in our distribution network and supports long-term efficiency across the business."

About Leon's Furniture Ltd.

Leon's Furniture is the largest retailer of furniture, appliances and electronics in Canada. The company's retail banners include: Leon's; The Brick; Brick Outlet; and The Brick Mattress Store. Finally, with The Brick's Midnorthern Appliance banner alongside Leon's Appliance Canada banner, this makes the company the country's largest commercial retailer of appliances to builders, developers, hotels and property management companies. The company has 301 retail stores from coast to coast in Canada under various banners. The company operates six websites.