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").
Election of Directors
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.
Appointment of Auditor
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.
Approval of Amended Stock Option
Plan
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.
About Tribe Property
Technologies
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.
Cautionary Statement on
Forward-Looking Information
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.