TRBE Tribe Property Technolgies Inc

VANCOUVER, BC, Sept. 17, 2024 /CNW/ - Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) ("Tribe" or the "Company"), a leading provider of technology-elevated property management solutions, today announced the results of the voting at its September 17, 2024 annual general and special meeting (the "Meeting") of shareholders. At the Meeting, shareholders were asked to elect directors, appoint auditors, and approve the Company's amended stock option plan (the "Amended Stock Option Plan").

At the Meeting, Shareholders re-elected Joseph Nakhla, Raymond Choy, Charmaine Crooks, Andrew Kiguel, Michael Willis and Sanjiv Samant, and elected Alex Yanitsky for a first time, as Directors of the Company to hold office until the date of the next annual meeting of shareholders or until their successors are elected or appointed.

Alex Yanitsky was appointed to the Company's Board of Directors in August 2024. He currently serves as General Partner at PROPELR Growth (formerly Round13), where he is an original member of the investment team. He has over 12 years' experience in growth equity, private equity and corporate finance in the Canadian and European markets. Prior to joining PROPELR Growth, Alex was an Executive Director at Goldman Sachs in the Principal Investment Area, the equity investing arm of Goldman Sachs Merchant Banking Division, based in London, UK. Prior to that, he held investing and corporate finance roles at Teachers' Private Capital and RBC Capital Markets. Alex holds an MBA from INSEAD and an HBA from the Richard Ivey School of Business at the University of Western Ontario.

At the Meeting, Shareholders approved the appointment of Dale Matheson Carr-Hilton LaBonte LLP as auditor of the Company for the ensuing year and the Directors were authorized to fix the remuneration to be paid to the auditor.

At the Meeting, Shareholders approved the Company's Amended Stock Option Plan. The Company's existing stock option plan (the "Stock Option Plan") was last approved by shareholders on July 5, 2023. The Board approved the Amended Stock Option Plan on August 12, 2024. The Amended Stock Option Plan changes the Company's Stock Option Plan from a "rolling" 10% stock option plan to a "fixed" option plan pursuant to which the Company may grant a fixed number of stock options (each, an "Option") exercisable to acquires common shares of the Company (each, a "Share") equal to 20% of the Company issued and outstanding Shares, equal to 6,645,561 Shares.

As the Amended Stock Option Plan is a "fixed" plan. The number of Options that may be granted under the Amended Stock Option Plan does not increase if the total number of issued and outstanding Shares of the Company increases and Shares of the Company covered by Options which have been exercised or settled, as applicable, are not available for subsequent grant under the Amended Stock Option Plan. Options which are settled in cash, expire or are forfeited, surrendered, cancelled or otherwise terminated or lapse for any reason without having been exercised or settled in Shares, however, will be available for subsequent grant under the Amended Stock Option Plan. Shares will not be deemed to have been issued pursuant to the Amended Stock Option Plan with respect to any portion of an Option that is settled in cash.

A copy of the Amended Stock Option Plan was scheduled to the management information circular of the Company dated August 12, 2024 and is available under the Company's SEDAR+ profile at www.sedarplus.ca.

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. Visit tribetech.com for more information.

ON BEHALF OF THE BOARD

"Joseph Nakhla"
Chief Executive Officer

Tribe Property Technologies Inc.

"Joseph Nakhla"
Chief Executive Officer
1606-1166 Alberni Street
Vancouver, British Columbia V6E 3Z3
Phone: (604) 343-2601
Email: joseph.nakhla@tribetech.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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. Forward-looking statements or information in this news release may relate to statements with respect to the aims and goals of the Company; financial projections; growth plans including future prospective consolidation in the property management sector; future acquisitions by the Company; beliefs of the Company with respect to the independent owner-investors market; prospective benefits of the Company's platform; and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

SOURCE Tribe Property Technologies Inc.