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Tribe Property Technologies Announces Increase in Brokered Financing to $18.3 Million
Friday, January 7, 2022Company Profile | Follow Company
Vancouver, BC, January 7, 2022--(T-Net)--Tribe Property Technologies Inc. (TSXV: TRBE ) (OTCQB: TRPTF) announced that it has agreed to increase its previously announced marketed private placement offering of units of the Company for aggregate gross proceeds now of up to $18.3 million.
Round13 Growth Fund, a late-stage growth equity investment fund, part of the Round13 Capital family of funds, will lead the financing and subscribe for $10 million worth of Units.
The net proceeds of the Offering will be used to execute on the Company's acquisition pipeline, and for working capital and general corporate purposes.
About Tribe Property Technologies
Tribe is a property technology company that is digitizing the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe's integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers.
Tribe's three revenue pillars are made up of software and service (recurring licensing and management fees), transactional (rent or condo fees, banking services, lease-ups) and digital services and partnership (smart building products, financial and insurance service) revenue.
Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe's platform decreases customer acquisition costs, increases retention and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.
Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange ("TSXV"). All securities issued pursuant to the Offering will be subject to a statutory hold period of four months plus a day and TSXV hold period, as applicable.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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. Cautionary Statement on Forward-Looking Information This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. [ MORE ] |
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Tribe Property Technologies Inc.
Vancouver (Other Tech Sectors)
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