Mr. Ben Lui reports

YORKTON EQUITY GROUP INC. ANNOUNCES EXTENSION OF PRIVATE PLACEMENT

Yorkton Equity Group Inc. has been granted an extension by the TSX Venture Exchange to complete the non-brokered private placement, as previously announced on Oct. 12, 2023, and Oct. 18, 2023, of up to $2.2-million in unsecured convertible debentures of the company, of which $2-million was conditionally closed on Oct. 17, 2023, and $200,000 remains available, by no later than Dec. 18, 2023.

The extension will permit sufficient time for certain subscribers to complete all necessary documentation and requirements for the company to accept their subscriptions. The private placement remains subject to the final acceptance of the TSX-V and all regulatory approvals.

Details of this private placement

Each convertible debenture has an issue price of $1,000 with an interest rate of 8 per cent per annum, payable annually to the convertible debentureholders only in cash no later than 30 days from the anniversary date of the closing date of the private placement to the maturity date.

Each convertible debenture will mature on the date that is five years from the date of issuance of the convertible debenture. The principal amount of each convertible debenture may, at the option of the convertible debentureholder, be convertible, in whole or in part during the term, into common shares of the company at a conversion price of 20 cents per common share, after which such principal amount of the convertible debenture will be extinguished.

The company, after a period of 36 months following the date of closing, will have the right, but not the obligation, to redeem the principal amount and any unpaid interest of the convertible debenture, in cash, without penalty, at any time prior to the date of maturity by providing a 30-calendar-day notice period to the convertible debentureholder by way of a written notice or a press release duly disseminated. Within 10 business days after receipt of the redemption notice, the convertible debentureholder, at its sole discretion, may request for a conversion (of the principal amount only exclusive of any interest component which is payable in cash only) from the company by the issuance of common shares. All rights to conversion lapses 10 business days after receipt of the redemption notice.

The convertible debentures and any common shares issuable upon conversion will be subject to a statutory hold period lasting four months and one day following the closing date.

The company has used the proceeds from the initial tranche closing of the private placement for the closing of 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. (previously announced on Oct. 18, 2023), and the company intends to use any additional proceeds from the private placement for unallocated and general working capital.

About Yorkton Equity Group Inc.

Yorkton Equity 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. The company's current geographical focus is in Alberta and British Columbia with diversified and growing economies, and strong population in migration. The company's business objectives are to achieve growing net operating income (NOI) 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.

We seek Safe Harbor.