Business
Yorkton Equity Group Inc. Announces closing of the first tranche of the Non-brokered private placement
(TheNewswire) Edmonton, Alberta – July 22 th , 2021 – Yorkt...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Announces closing of the first tranche of the Non-brokered private placement\n \n \n (TheNewswire)\n \n \n \n Edmonton, Alberta\n \n \n – July 22\n \n \n th\n \n \n , 2021 – Yorkton Equity Group Inc.\n(“YEG” or the “Company”) (TSX-V: YEG) announces the closing of\nthe first tranche of the non-brokered private placement unit offering\n(“Offering”) of 1,126,336 units at $0.30 per unit for gross\nproceeds of $337,900.80. Each Unit is comprised of one (1) common YEG\nshare and one (1) common YEG share purchase warrant (“Warrant”),\nwhereby each Warrant entitles the holder to purchase one (1) common\nYEG share at a price of $0.45 for a period of two (2) years from the\ndate of closing.\n \n \n \n \n In the event of acceleration, the expiry date will be\naccelerated to a date that is thirty (30) days after the date that\nwritten notice has been given to the warrant holder or the date that\nthe Company has issued a press release announcing the exercise of the\nacceleration right; and thereafter, no further notification will be\nprovided by the Company to the subscribers. The shares and warrants\nissued pursuant to the Offering shall be subject to a four (4) month\nhold from the date of closing.\n \n \n \n \n The Company intends to use the proceeds from the\nOffering towards the purchase of the Langford, Victoria Property as\nannounced on April 19, 2021, as well as renovations and upgrades to\nthe Riviera Gardens Property, and general working capital.\n \n \n \n \n About Yorkton\n \n \n \n \n Yorkton Equity Group Inc. is a fully integrated\ngrowth-oriented real estate investment company committed to providing\nshareholders with growing assets through the accretive acquisitions,\norganic growth, and the active management of multi-family rental\nproperties with significant upside potential. Our geographical focus\nis in primary and secondary markets across Canada with diversified,\ngrowing economies, and strong population in-migration, with a current\nfocus in British Columbia. Our business objectives are to achieve\nstable Net Operating Income (NOI) and growing Net Asset Value (NAV) in\nour multi-family rental property portfolio by deploying a risk averse\nbusiness model to create the ultimate value proposition for our\nshareholders. Yorkton E...