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Tribe Property Technologies Inc
Symbol TRBE
Shares Issued 35,319,887
Close 2025-07-07 C$ 0.42
Market Cap C$ 14,834,353
Recent Sedar Documents

Tribe Property closes $5.75-million public offering

2025-07-07 20:39 ET - News Release

Mr. Joseph Nakhla reports

TRIBE PROPERTY TECHNOLOGIES ANNOUNCES CLOSING OF BEST EFFORTS PUBLIC OFFERING OF UNITS WITH FULL EXERCISE OF OVER-ALLOTMENT OPTION FOR GROSS PROCEEDS OF APPROXIMATELY $5,750,000

Tribe Property Technologies Inc. has completed its previously announced best efforts public offering of units of the company, pursuant to which the company issued a total of 12,777,777 units, including the full exercise of the overallotment option, at an issue price of 45 cents per unit for aggregate gross proceeds of approximately $5.75-million.

Each unit comprises one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share for a period of 36 months from the date of closing at an exercise price of 60 cents per common Shares subject to adjustment in certain events.

The offering was completed on a best efforts agency basis pursuant to the terms and conditions of an agency agreement dated June 30, 2025, as among the company and a syndicate of agents led by Raymond James Ltd., and including Canaccord Genuity Corp., Ventum Financial Corp. and Stifel Nicolaus Canada Inc. The company paid to the agents a cash fee of 7 per cent of the aggregate gross proceeds of the offering, other than in respect of the purchasers on the president's list, for which a cash fee of 2 per cent was paid. The company also issued to the agents that number of non-transferable warrants equal to 7 per cent of the number of units sold in the offering, other than in respect of the purchasers on the president's list, for which the number of agent warrants issued was reduced to 2 per cent of the number of Units sold. Each agent warrant entitles the holder thereof to purchase one common share for a period of 36 months from the date of closing at an exercise price of 45 cents per common share, subject to adjustment in certain events.

The net proceeds from the offering will be used by the company for growth initiatives, including technology investments and future potential acquisitions, for working capital, and for repayments of vendor takebacks.

The units were offered in all provinces of Canada (except Quebec) by way of a prospectus supplement dated June 30, 2025, to the company's (final) short form base prospectus dated June 24, 2025, and outside of Canada on a private placement or equivalent basis. The base shelf prospectus and prospectus supplement are accessible through SEDAR+.

The offering remains subject to final approval of the TSX Venture Exchange. The company has obtained conditional approval for the listing and trading of the warrants on the TSX Venture Exchange. Listing of the warrants for trading on the TSX Venture Exchange remains subject to the certain postclosing filing requirements in accordance with the policies of the TSX Venture Exchange.

Joseph Nakhla and Angelo Bartolini participated in the offering to purchase an aggregate of 54,544 units for an aggregate price of $24,544.80. The related party participation constitutes a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Pursuant to sections 5.5(a) and 5.7(1)(a), the company is exempt from obtaining a formal valuation and minority approval of the company's shareholders in respect of the related party participation due the fair market value of the related party participation being below 25 per cent of the company's market capitalization for the purposes of MI 61-101. The company will file a material change report in respect of closing of the offering. However, the material change report will be filed less than 21 days prior to the closing of the offering, which is consistent with market practice and the company deems reasonable in the circumstances.

About Tribe Property Technologies Inc.

Tribe is a property technology company that is disrupting 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 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.

We seek Safe Harbor.

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