Vancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - Parvis Invest Inc. (TSXV: PVIS) ("Parvis" or the "Company'), a technology-driven real estate company focused on supporting issuers and broadening access to institutional quality real estate investment opportunities, is pleased to announce that it has granted 2,174,020 restricted share units of the Company (the "RSUs") to certain directors, officers and employees of the Company pursuant to restricted share unit agreements (the "RSU Agreements"), the terms and conditions of the omnibus equity incentive plan of the Company and the policies of the TSX Venture Exchange. 33.33% of the RSUs will vest one year after the grant date, following which 8.33% of the RSUs will vest quarterly until the date that is three years after the grant date. Each RSU shall be settled by the issuance of one common share of the Company, or an equivalent cash value, to the holder of the RSU following each vesting date.
Certain of the RSU Agreements are considered related party transactions under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") because of the participation of the directors and officers of the Company. These transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the securities issued nor the consideration provided therefor exceed 25% of the Company's market capitalization.
About the Company
Parvis is a technology-driven real estate investing platform. Focused on broadening access to institutional quality real estate investment opportunities, Parvis promotes greater access in this historically inaccessible and illiquid asset class. Enabled by blockchain technology, Parvis makes finding, tracking, and maximizing investments an experience that is both frictionless and empowering. Parvis, headquartered in Vancouver, employs experts in Toronto, Vancouver, Kelowna, and Montreal. Additional information about Parvis is available at www.parvisinvest.com and on SEDAR+ at www.sedarplus.ca.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements") within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: settlement of the RSUs; the timing, structure, and financial impacts of certain contracts; and the Company's business plans and role in the investment industry. To develop the forward-looking information in this news release, the Company made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; and the ability of the Company to execute and achieve its business objectives. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; changes in general economic, business and political conditions; changes in applicable laws and regulations; compliance with extensive government regulation; reliance on key and qualified personnel; risks associated with the real estate, investment, and technology industries in general. The foregoing list of material risk factors and assumptions is not exhaustive. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
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Instagram: @parvisinvest
Facebook: Parvis Invest
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Related Link: https://parvisinvest.com
For further information:
David Michaud, CEO, Parvis Invest Inc.
Email: david@parvisinvest.com
Tel: 1-844-487-4866
For media inquiries please contact:
Katie Green, August Strategy Inc.
Email: katie@auguststrategy.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205706
SOURCE: Parvis Invest Inc.
