Mr. Ben Lui reports

YORKTON EQUITY GROUP INC. ANNOUNCES ACQUISITION OF THE FUSE, A 125-UNIT MULTI-FAMILY RESIDENTIAL COMPLEX IN EDMONTON, ALBERTA

After completing a thorough due diligence and evaluation process, Yorkton Equity Group Inc. has removed all buyer conditions on a purchase-and-sale agreement (PSA) for the acquisition of The Fuse, a 125-unit multifamily residential complex constructed in 2015 and comprising two condominium-grade buildings situated on approximately 2.67 acres of land located in the Summerside neighborhood at 2105 and 2109 68 St. Southwest, Edmonton, Alta., with a purchase price of $25,625,000.

Under the terms of the PSA, as amended, the company had 60 days from the date of execution to waive or satisfy the condition on the transaction, which was obtaining financing to complete the transaction. On Sept. 21, 2023, the company satisfied the financing condition of the PSA, and all buyer conditions were removed. The closing date for the acquisition of the property is Nov. 16, 2023.

The property comprises 23 one-bedroom/one-bathroom suites, 70 two-bedroom/two-bathroom suites and 32 two-bedroom-plus-den/two-bathroom suites. The average suite size is 910 square feet, and the total net rentable space is 113,803 square feet. Each suite includes contemporary suite amenities such as granite countertops, tiled kitchen backsplash, modern stained birch cabinets and designer tile flooring, and is equipped with in-suite laundry and storage. The property has 48 underground parking stalls and 132 surface parking stalls. Each building is equipped with elevator access to all floors. The property also includes amenities such as air-conditioned hallways and a fitness centre in each building.

The company has already paid non-refundable deposits totalling $1-million. The remaining amount of the purchase price, subject to the usual adjustments, will be paid on the closing date.

Ben Lui, president and chief executive officer of Yorkton, commented: "Expanding upon our recent acquisition of The Dwell, a luxurious, 188-unit, newly built, condominium-grade apartment complex, The Fuse represents another milestone in our ongoing growth and a significant addition to our portfolio. Yorkton remains focused on growing its residential property portfolio in Alberta, where the housing demand is strong as a result of international and interprovincial in-migration due to Alberta's strong economy and job market, low cost of living, and affordable housing. Please stay tuned for a further press release, which will be disseminated upon the closing of the property."

About Yorkton Equity Group Inc.

Yorkton Equity Group is a growth-oriented real estate investment company committed to providing shareholders with growing assets through accretive acquisitions, organic growth and the active management of multifamily rental properties with significant upside potential. Yorkton Equity Group's current geographical focus is in Alberta and British Columbia, with diversified and growing economies and strong population in-migration. Yorkton Equity Group's business objectives are to achieve growing net operating income as well as the asset values in its multifamily rental property portfolio in strategic markets across Western Canada.

The management team at Yorkton Equity Group has well over 30 years of prior real estate experience in acquiring and managing rental assets.

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