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Tribe Property Technologies Announces Acquisition of Southview Property Management
Tribe Property Technologies Announces Acquisition of Southview Property Management ...
About this update from Tribe Property Technologies Inc
[{"type":"text","content":"\n \n \n \n Tribe Property Technologies Announces Acquisition of Southview Property Management\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION IN THE U.S. OR TO U.S. NEWSWIRE SERVICES./\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 12, 2022\n \n \n /CNW/ - Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) (\"Tribe\" or the \"Company\") is pleased to announce that it has agreed to acquire Southview Property Management Inc. (\"Southview\"), an arm's-length party, strengthening Tribe's presence in the greater\n \n Vancouver\n \n region of\n \n British Columbia\n \n . The companies signed this agreement, today\n \n May 12, 2022\n \n .\n \n \n \n \n \n \n \n \n \n \"We are looking forward to welcoming the Southview team and their wealth of experience in both strata and rental management into the Tribe family,\" said\n \n Joseph Nakhla\n \n , CEO of Tribe. \"Southview's\n \n Richmond\n \n office expands our presence in the Lower Mainland of\n \n British Columbia\n \n , creating additional revenue streams while bringing efficiencies through the digitization of their communities.\"\n \n \n The acquisition is a continuation of Tribe's acquisition strategy that identifies optimal operational opportunities and continues to expand the Company's local footprint and digital services.\n \n \n \"Our team is excited to be joining a customer-focused company that is solving traditional property management challenges with new technologies and operational efficiencies that will improve the level of service we can provide for our clients,\" said Southview Principal,\n \n Jeff Wolrige\n \n .\n \n \n In exchange for all of the outstanding share capital of Southview, Tribe has agreed to pay\n \n $600,000\n \n to the existing shareholders of Southview, payable as follows:\n \n \n (a)\n \n $200,000\n \n payable on the closing date;\n \n (b)\n \n $300,000\n \n payable in common shares of Tribe (the \"Consideration Shares\"); and\n \n (c)    $100,000 ...