Mr. Joseph Nakhla reports

TRIBE PROPERTY TECHNOLOGIES ANNOUNCES ACQUISITION FACILITY OF UP TO $15 MILLION TO FURTHER EXPAND ITS M&A ACTIVITIES WITH CANADIAN SCHEDULE A BANK

Tribe Property Technologies Inc. has signed a definitive loan agreement with the technology and innovation banking arm of a Canadian Schedule A bank, which provides a senior term loan facility for up to $15-million. The facility consists of a $3-million operating line to support the company's working capital requirements and an M&A (merger and acquisition) facility of $7-million, with an additional accordion feature of $5-million, for a total of up to $15-million of non-dilutive capital. The definitive agreement was signed on Thursday, Oct. 5, 2023, with an interest rate of prime plus 2.65 per cent per annum for both facilities.

"We are thrilled to announce this significant milestone for Tribe which further strengthens our commitment to strategic growth and financial stability," said Joseph Nakhla, chief executive officer of Tribe. "Executing this financing facility is an essential piece of our M&A growth strategy as it provides us with access to non-dilutive capital which will be beneficial to our long-term capital structure, as well as aid in accelerating our growth plans."

About Tribe Property Technologies Inc.

Tribe Property is a property technology company that is digitizing the traditional property management industry. As a rapidly growing technology-forward property management company, Tribe Property has an integrated service technology delivery model that serves the needs of a much wider variety of stakeholders than traditional service providers. Tribe Property 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 Property's platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services through the platform.

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