Oksenholt Capital Slams City Office REIT's Elliott Capital Offer

Oct 7 (Reuters) - City Office REIT Inc CIO.N:

• OKSENHOLT CAPITAL: SLAMS CITY OFFICE REIT'S ELLIOTT CAPITAL OFFER, CALLS FOR NEW LEADERSHIP AND STRATEGIC RESTRUCTURING

• OKSENHOLT CAPITAL: CEO JON OKSENHOLT SENT FORMAL LETTER TO CHAIRMAN OF BOARD OF CITY OFFICE REIT

• OKSENHOLT CAPITAL: "WE FAIL TO SEE HOW SELLING CITY OFFICE REIT AT OR AROUND CURRENT STOCK PRICE MAXIMIZES LONG-TERM VALUE FOR SHAREHOLDERS"

• OKSENHOLT CAPITAL: CITY OFFICE REIT SHOULD INITIATE A REVIEW TO FURTHER UNLOCK VALUE OF LAND, INCLUDING PARKING LOTS

• OKSENHOLT CAPITAL: CITY OFFICE REIT SHOULD INITIATE A REVIEW OF EACH BUILDINGS HIGHEST & BEST USE, WITH A LONG-TERM CAPITAL IMPROVEMENT PLAN

• OKSENHOLT CAPITAL: CITY OFFICE REIT'S SENIOR MANAGEMENT MUST BE US BASED

• OKSENHOLT CAPITAL: CITY OFFICE REIT SHOULD CANCEL ALL LEASES FOR CANADIAN OFFICE SPACE, STOP HIRING STAFF IN CANADA