In these exceptional times, Ivanhoé Cambridge wants to contribute to the collective effort to support the Quebec economy, and will be deploying measures to alleviate the immediate financial pressure for its tenants in its Québec shopping centres. As such, Ivanhoé Cambridge announces that it will be granting a deferral of the rent payable by those tenants of its retail properties in Quebec, until a later date to be identified in the future, according to their respective situation, and for a period to be determined according to the evolution of the situation.
"We are implementing exceptional measures in order to respond to an exceptional situation. Each of us must do our part to support the well-being of our community and Ivanhoé Cambridge is united in solidarity with the difficult circumstances faced by many businesses, said Nathalie Palladitcheff, President and Chief Executive Officer, Ivanhoé Cambridge. " Our decisions are made with caution in these circumstances. The mitigating measures proposed today aim to alleviate the liquidity problems of the tenants of our shopping centers in Quebec and to support the economy of the province."
For the moment being, our shopping centers remain open, and we are deploying additional measures, in accordance with the recommendations of the Public Health Agency of Canada, to counter the spread of Covid-19. Ivanhoé Cambridge will continue to follow the development of this exceptional situation very closely.