Edmonton, Alberta – (July 15, 2024) – Yorkton Equity Group Inc. (“Yorkton” or the “Company”) (TSXV:YEG) announces its board of directors and the approval of a grant of stock options.
Board of Directors
As previously announced on June 10, 2024, the Company’s shareholders have voted to elect Messrs. Ben Lui, Bill Smith, Mark Wilbert, Jason Theiss, and Tony Barlott as directors of the Company for the ensuing year. Mr. Smith has been re-appointed as the Chairman of the board of directors and Mr. Barlott has been appointed as the Chair of the Audit Committee and Corporate Secretary. Mr. Barlott succeeds Mr. Theiss as Chair of the Audit Committee. Mr. Theiss will continue as a member of the Audit Committee.
Grant of Stock Options
In accordance with the policies of the TSX Venture Exchange, the board of directors has approved a grant of stock options to the Company’s directors to purchase an aggregate of 250,000 common shares of the Company. The options will vest immediately and have an exercise price of $0.20 per common share with an expiry date of June 10, 2029.
All options are subject to any earlier termination in accordance with their terms and the Company’s omnibus security-based compensation plan.
Mr. Ben Lui, President and CEO of Yorkton stated, “I am very pleased to welcome Mr. Barlott to our board of directors and his appointment as the Chair of our Audit Committee and Corporate Secretary. Mr. Barlott brings a wealth of experience which will be invaluable as we continue to expand our business. Additionally, as part of our ongoing strategy to align the interest of our leadership with those of our shareholders, we are granting stock options to the current directors of the Company. I have complete confidence in the directors and their leadership, dedication and commitment to the continued growth of Yorkton and driving long-term value.”
About Yorkton
Yorkton Equity Group Inc. is a growth-oriented real estate investment company committed to providing shareholders with growing assets through accretive acquisitions, organic growth, and the active management of multi-family rental properties with significant upside potential. Our current geographical focus is in Alberta and British Columbia with diversified and growing economies, and strong population in-migration. Our business objectives are to achieve growing Net Operating Income (“NOI”) as well as the asset values in our multi-family rental property portfolio in strategic markets across Western Canada.
The management team at Yorkton Equity Group Inc. has well over 30 years of prior real estate experience in acquiring and managing rental assets.
Further information about Yorkton is available on the Company’s website at www.yorktonequitygroup.com and the SEDAR+ website at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information on Yorkton, please contact:
Ben Lui, CEO – Corporate Office: (780) 409-8228
Yorkton Equity Group Inc. – Shareholder Communications: (780) 907-5263
Email: investors@yorktonequitygroup.com
Forward-looking information
This press release may include forward-looking information within the meaning of Canadian securities legislation concerning the business of Yorkton. Forward-looking information is based on certain key expectations and assumptions made by the management of Yorkton. Although Yorkton believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Yorkton can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Yorkton disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirement.