Halcyon International Limited Announces Acquisition of Shares of RFA Financial Inc.

TORONTO, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Halcyon International Limited (“Halcyon”) issues this press release pursuant to National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in respect of its holdings in RFA Financial Inc. (“RFA”) (TSX:RFA, RFA.PR.I)

Further to the joint press release of Artis Real Estate Investment Trust (“Artis” or the “REIT”) (TSX:AX.UN) and RFA dated February 2, 2026, Halcyon, together with its joint actors, announces that it has acquired an aggregate of approximately 11,392,549 common shares (“Common Shares”) and approximately 100,000 preferred shares Series I (“Preferred Shares Series I”) of RFA, on a post-consolidation basis, in connection with the completion of the arrangement transaction of RFA and Artis (the “Transaction”). Pursuant to the Transaction, Artis and RFA combined their respective businesses and RFA acquired all of the common units, Series E preferred units and Series I preferred units of Artis.

Immediately prior to the Transaction, Halcyon, together with its joint actors, beneficially owned and controlled 19,744,717 common units of Artis representing 20.78% of the issued and outstanding common units and 100,000 preferred units Series I representing 2.35% of the issued and outstanding preferred units Series I of Artis. Immediately following closing of the Transaction, Halcyon, together with its joint actors, ceased to have beneficial ownership and control of any common units or preferred units of Artis.

Immediately prior to the Transaction, Halcyon, together with its joint actors, owned approximately 70,000,000 Common Shares of RFA. Immediately following the closing of the Transaction (which included a three-to-one share consolidation), Halcyon, together with its joint actors, beneficially owns approximately 11,392,549 Common Shares of RFA representing 24.44% of the current Common Shares issued and outstanding and 100,000 Preferred Shares Series I of RFA representing 2.35% of the current Preferred Shares Series I issued and outstanding. The number of Common Shares and Preferred Shares Series I acquired by Halcyon, together with its joint actors, pursuant to the Transaction reported herein is an estimate and is subject to change, as the number of Common Shares and Preferred Shares Series I issuable under the Transaction is subject to fractional share rounding.

The Common Shares and Preferred Shares Series I acquired by Halcyon are held for investment purposes. Halcyon and its affiliates and joint actors may, from time to time, depending on market and other conditions, increase or decrease their beneficial ownership, control or direction over securities of RFA through market transactions, private agreements or otherwise.

RFA’s head office is located at Suite 300 – 145 King Street West, Toronto, Ontario, M5H 1J8.

Halcyon’s head office is located at 4050 Appleby Line, Burlington, Ontario, L7M 0Y7, Canada.

An early warning report will be filed by Halcyon in accordance with applicable securities laws. For further information and to obtain a copy of the early warning report filed by Halcyon, please contact Halcyon’s office at 905-336-6993.

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