Mr. Joe Bleackley reports

PATHFINDER ANNOUNCES 2023 THIRD QUARTER FINANCIAL RESULTS

Pathfinder Ventures Inc. has released its financial and operating results for the three-month period ended Sept. 30, 2023.

The company's Q3 revenue increased by 10 per cent, or $142,303, compared with the prior-year same period evidencing the continued demand for Pathfinder Camp Resorts as summer destinations, supported by the normalized weather conditions in the current year. Year-to-date revenue increased by 8 per cent or $116,215 year over year, driven by strong Q1 and Q3 sales, partially offset by weaker demand seen in the shoulder seasons of April to May.

Q3 adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 19 per cent, or $73,008, from the same prior-year period, primarily as a result of increased revenue. Year-to-date adjusted EBITDA decreased, however, by 1 per cent, or $5,049, year over year, due to the increased cost on staffing, insurance and corporate activities, which largely offset the revenue increase.

The consolidated financial statements and management discussion and analysis (MD&A) can be viewed on SEDAR+. The financial information provided herein should be read in conjunction with and is qualified by additional information and disclosures contained in the consolidated financial statements, including the notes thereto and the MD&A.

About Pathfinder Ventures Inc.

Pathfinder Ventures is developing a network of premier branded, upscale and family-friendly RV (recreational vehicle) parks and campgrounds under the Pathfinder Camp Resorts name. Pathfinder currently has three camp resorts located in British Columbia and is focused on growing its network through both acquisitions and new construction. The corporation is taking advantage of the rapidly growing market of Canadians who want to experience the great outdoors in an RV.

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