Mr. Paul Bissett reports

ELEVATE SERVICE GROUP SECURES $25 MILLION ACQUISITION FACILITY AND EXPANDS OPERATING LINE TO $7.5 MILLION

Elevate Service Group Inc. has entered into an amended and restated credit agreement with a Schedule I Canadian lender, providing up to $25-million of acquisition financing and increasing its revolving operating facility to $7.5-million. The expanded credit facility provides Elevate with additional financial flexibility to execute its acquisition strategy while supporting the working capital requirements of its growing operating platform.

The amended credit facility includes: a new $25.0-million undrawn acquisition facility to support qualifying acquisitions in Canada and the United States; a $7.5-million revolving operating facility, increased from $6.0-million, to support working capital requirements; and approximately $14.5-million of existing term debt previously advanced in connection with completed acquisitions.

"The expansion of our credit facility reflects the continued support of our banking partner and provides Elevate with additional flexibility to pursue our growth strategy," said Paul Bissett, chief executive officer of Elevate. "With up to $25-million of acquisition capacity and an expanded operating line, we are well positioned to pursue opportunities within our active acquisition pipeline across Canada and the United States while maintaining a disciplined approach to leverage and capital allocation."

"This facility is a powerful strategic tool that significantly enhances our ability to execute on our acquisition pipeline," said Romeo Di Battista Jr., executive chairman of Elevate. "By combining senior bank debt with our public market currency, balance sheet cash and vendor financing, we can structure compelling acquisitions, accelerate our growth and continue building Elevate into a leading North American services platform."

The amended credit facility also improves the company's borrowing terms. The interest rate on the operating facility has been reduced to prime plus 1.00 per cent from prime plus 1.25 per cent, while the interest rate on the acquisition facility is based on prime plus a margin determined by the prevailing leverage ratio. The $25-million acquisition facility may be drawn in multiple tranches to finance qualifying acquisitions in Canada and the United States, subject to the terms and conditions of the credit agreement. Amounts drawn under the facility are amortized over seven years.

The credit facility contains customary financial and other covenants, including a maximum total financed debt to adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) ratio of 3.50 times, subject to a temporary increase to 3.75 times following certain material acquisitions, and a minimum fixed charge coverage ratio of 1.10 times. The credit facility matures on May 10, 2028, and is secured against the assets and subsidiaries of the company.

About Elevate Service Group Inc.

Elevate Service Group is a national facilities management and essential commercial services company focused on building an integrated platform through disciplined acquisitions and organic growth. Through its operating companies, Elevate brings decades of experience serving national, blue-chip customers. The company is building a scalable platform supported by shared infrastructure, technology and operational best practices. This approach drives efficiencies, expands service offerings and delivers superior customer outcomes. Elevate trades on the TSX Venture Exchange under the ticker SERV, on the OTCQB Venture Market under the ticker ESVCF and on the Frankfurt Stock Exchange under the ticker Y19.

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