Reitmans (Canada) Limited Announces the Granting of Options to Management

MONTREAL, April 26, 2022 /CNW Telbec/ - Reitmans (Canada) Limited ("Reitmans" or the "Company") (TSXV: RET) (TSXV: RET.A) today announces that it has granted an aggregate of 2,050,000 options to purchase Class A non-voting shares of the Company (the "Options") to members of management pursuant to its second amended and restated share option plan dated April 19, 2021.

The Options have an exercise price of $1.50, are subject to time-based and performance-based vesting terms. The grant of the Options is made pursuant to the Company's Long-Term Incentive Plan which is designed to incentivize members of management in the achievement of long-term financial targets.

The Company is a leading women's  apparel retailer with retail outlets throughout Canada. The Company operates 406 stores consisting of 237 Reitmans, 92 Penningtons and 77 RW&CO. The Company is a publicly traded company listed on the TSX Venture Exchange (TSXV: RET) (TSXV: RET.A). For more information, visit www.reitmanscanadalimited.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Reitmans (Canada) Limited