Mr. Ben Lui reports

YORKTON EQUITY GROUP INC. SUCCESSFULLY CLOSES THE ACQUISITION OF THE FUSE, A 125-UNIT MULTI-FAMILY RESIDENTIAL COMPLEX

Yorkton Equity Group Inc. has closed the acquisition of The FUSE, a 125-unit condominium-grade multifamily residential complex that was constructed in 2015 and comprises two buildings situated on approximately 2.67 acres of land located in the Summerside neighbourhood with the municipal addresses of 2105 and 2109 68 St. SW, Edmonton, Alta. This acquisition, previously announced on October 2 nd , 2023, was successfully completed on October 17 th , 2023 for a purchase price of $25,625,000 which has been funded by a combination of the Company's cash for the down payment and a Canada Mortgage and Housing Corporation ("CMHC") insured mortgage.

The Property has an occupancy rate of 98.4% with a projected total annual revenue of approximately $2.0 million or an annual Net Operating Income (NOI) of about $1.22 million, as well as a capitalization rate of approximately 4.78% based on the purchase price. Yorkton believes that there will be a strong potential to grow the NOI in the coming years.

Mr. Ben Lui, President and CEO of Yorkton comments that, "I am excited to report the closing of the acquisition of The FUSE, which represents yet another milestone in Yorkton's ongoing rapid growth. Following on the recent acquisition of The Dwell, a 188-unit newly constructed luxurious condo grade multi-family complex as previously reported on February 28th, 2023, Yorkton has increased its total number of residential units by more than 150% and its total asset value by about 120% during 2023. With the current strong in-migration into Alberta, resulting in a tight residential rental market with low vacancy rates, Yorkton sees this as a window of opportunity to continue our rapid growth and expects that The FUSE, together with the existing portfolio, are well positioned to deliver positive financial results in the coming years."

Mr. Bill Smith, Chairman of the Board comments that, "The Board is very pleased with the execution performance and strong commitment of the management team towards fulfilling the mandate and direction of the Company, which has established a sound foundation for the future growth of Yorkton."

Click Image To View Full Size South West Aerial View of The FUSE

Click Image To View Full Size Main Entrance to The FUSE Complex

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 forty-eight (48) underground parking stalls and one hundred and thirty-two (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 center in each building.

About Yorkton

Yorkton Equity Group Inc. 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 multi-family rental properties with significant upside potential. Our current geographical focus is in Alberta and British Columbia with diversified and growing economies, and strong population in-migration. Our business objectives are to achieve growing Net Operating Income ("NOI") as well as the asset values in our multi-family rental property portfolio in strategic markets across Western Canada.

We seek Safe Harbor.