Yorkton Equity Group Inc. Announces the Successful Acquisition Closing of Two Multi-Family Properties in Fort St. John, British Columbia

(TheNewswire)

Edmonton, Alberta – TheNewswire – February 1, 2022 – Yorkton Equity Group Inc. (“Yorkton” or the “Company”) (TSXV:YEG) is pleased to announce that after completing a thorough due diligence and evaluation process it has closed on the purchase of a portfolio comprised of two properties including a 21 unit townhouse project, Canterbury Estates, and a 12-unit apartment building, Midtown Apartments, which are both well situated in strategic locations in Fort St. John, British Columbia. This transaction, previously announced on December 22, 2021, was successfully completed on January 31, 2022 for an aggregate total portfolio purchase price of $4,629,800.

Ben Lui, President and CEO of Yorkton commented that, “We have recently completed a number of successful acquisitions of multi-family rental properties in key markets in British Columbia, such as Kelowna, Langford (Metro Victoria) and Penticton. With the successful closing of these two properties in Fort St. John, we are continuing our rapid pace of expanding our property portfolio into the growing BC northern region.”

Fort St. John is a city located in northeastern British Columbia in the Peace River Regional District, and it is the hub for natural gas extraction in northern BC that has one of the largest reserves of natural gas in the world and is the principal long-term beneficiary of the $40 billion LNG Canada liquefied natural gas (LNG) project which is now under construction. The Company has completed extensive research on the Fort St. John multi-family rental market and has determined it to be a market with significant upside potential based on strong population in-migration and job market growth, consistent with our business model for property acquisitions. Fort St. John is the second-largest city in northern B.C. and has a diversified economy with oil and gas, forestry, agriculture, manufacturing, and mining operations. Known as the “energetic city”, Fort St. John has a young and vibrant population with a median age of 31 years, and boasts the highest average household income in all of B.C. According to the Community Profiles Statistics Canada Census, Fort St. John has experienced a steady population growth rate of 15.8% between 2006 and 2016, almost double that in the Peace River Regional District of 8%. It is further projected that there will be a 2.2% annual population growth between 2020 and 2025.

About Yorkton

Yorkton Equity Group Inc. is a growth-oriented real estate company committed to providing shareholders with growing assets through the accretive acquisitions, organic growth, and the active management of multi-family rental properties with significant upside potential. Our geographical focus is in secondary markets in British Columbia with diversified, growing economies, and strong population in-migration. Our business objectives are to achieve stable Net Operating Income (“NOI”) and growing Net Asset Value (“NAV”) in our multi-family rental property portfolio by deploying a risk averse business model to create the ultimate value proposition for our shareholders. Yorkton Equity Group Inc. is built on the solid foundations of the Yorkton Group of companies with strong financial capacity, and well over 30 years of real estate experience.

Further information about Yorkton is available on the Company’s website at www.yorktonequitygroup.com and the SEDAR website at www.sedar.com.

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 news 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.

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