CEO Kavanaugh exchanges 2,405 shares for OP units to maintain REIT tax status

Medalist Diversified, Inc.

CEO Francis Kavanaugh exchanged 2,405 common shares for 2,405 OP units in the operating partnership.
Exchange ensures compliance with REIT ownership rules limiting concentration among five or fewer individuals.
After exchange, Kavanaugh intends to purchase additional shares of common stock.
Exchange approved by Audit Committee and full Board as a related-person transaction.
OP units are redeemable for cash or common stock after a one-year holding period.

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