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Walton Big Lake Development L.P. Announces Closing of Asset Sale

Walton Big Lake Development L.P. (the "Partnership"), and its general partner, Walton Big Lake Development Corporation (the "General Partner" and, together with the Partnership, "Walton Big Lake"), announced today that it has closed the previously announced transaction with Anthem Properties Group Ltd. ("Anthem") to sell all of the lands, contracts and other assets (the "Property") which are associated with Walton Big Lake's ongoing development project named "Hawks Ridge at Big Lake". The Property was purchased by an Anthem affiliate, Anthem United Hawks Ridge Developments Limited Partnership, and comprises all or substantially all of the assets of Walton Big Lake.

As previously announced, the General Partner intends to proceed to dissolve the Partnership under the provisions of the October 26, 2010 Amended and Restated Limited Partnership Agreement, after which the General Partner will be dissolved pursuant to an order of the Court of Queen's Bench of Alberta dated October 31, 2019.

Additional Information

The Walton Group of Companies ("Walton") is a multinational real estate investment, planning, and asset management group concentrating on strategically located land in major North American growth corridors.

For more information about Walton Big Lake Development L.P., please visit www.sedar.com. For more information about Walton, visit www.Walton.com. For information about Hawks Ridge at Big Lake visit www.hawksridge.ca.

About Anthem United

Founded 28 years ago, Anthem and Anthem United is a driven, creative, and passionate team of 400 people. Anthem and Anthem United have invested in, developed or managed – alone or in partnership – more than 260 residential, commercial and retail projects with an aggregate value of more than $6 billion across western North America.

Anthem United is a land development and homebuilding company that strives, solves and evolves to create better spaces and stronger communities. Anthem’s growing residential portfolio includes 14,600 homes that are complete, in design or under construction, from master planned mixed use residential and multifamily, to townhome and single-family communities.

Anthem owns, co-owns and manages 5 million square feet of retail, industrial, residential rental and office space. Anthem United has developed more than 60 communities and currently hold over 5,000 acres of land across Alberta, British Columbia and California.

This news release, required by Canadian laws, does not constitute an offer of securities, and is not for distribution or dissemination outside Canada. This news release contains forward looking information, and actual future results may differ from what is disclosed in this news release. The risks, uncertainties and other factors that could influence results are described in the prospectus and other documents filed with Canadian securities regulatory authorities and available online at www.sedar.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20191218005703/en/

Contacts

For Walton media inquiries, please contact: Camila Roncancio
Office: +1.866.925.8668
Email: Info@walton.com

For Anthem media inquiries, please contact: Jenna Anderson
Office:+1.800.926.8436
Email: media@anthemproperties.com