August 01, 2023 4:23 PM EDT | Source: Parvis Invest Inc.
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2023) - Parvis Invest Inc. (TSXV: PVIS) ("Parvis'' or "the Company''), a technology-driven real estate company focused on broadening access to institutional quality real estate investment opportunities, today announced the addition of Cascadia Green Real Estate Investment Trust ("Cascadia') as a new Exempt Market Dealer (EMD) issuer client; a burgeoning vertical of the company.
While fulfilling its mission to open up access to institutional quality real estate investment opportunities and increase liquidity in private assets, Parvis has identified a unique need-gap within the market for an efficient and scalable EMD investment platform. Complimentary to the business model, Parvis onboards issuers and developers to help process and service investors.
"We are delighted to announce an investor agreement with Cascadia," said David Michaud, Parvis' Chief Executive Officer. "In today's environment, companies are looking to focus on the execution of their business, removing the workload associated with EMD services which we are able to seamlessly handle through our leading tech platform. This is an exciting vertical emerging at Parvis, where we will provide value to issuers while driving new revenue into the business. We look forward to our work with the Cascadia team."
Cascadia is a private REIT that provides exclusive access to a pipeline of multi-family development assets in Greater Vancouver. It has partnered with an established development arm, allowing their investors to benefit from favourable positions taken in developments and acquisitions of income producing properties in this highly competitive market.
For Cascadia, Parvis will provide comprehensive EMD services including marketing, capital raising, investor relations and potentially secondary market services. The EMD service vertical represents an exciting new segment of business for Parvis. Outsourcing EMD services to Parvis will allow companies to offload and streamline their administrative work in order to focus on their core business, and in turn drive revenue within Parvis. Growing this segment of the business will enable Parvis to achieve the core vision of democratizing real estate and alternative investment to scale.
Parvis also announced today the upcoming launch of its Parvis Direct Access Fund. The fund will co-invest alongside accredited and eligible investors into the Company's growing pipeline of projects and properties that it carefully selects. The Parvis Direct Access Fund will be distributed on traditional networks and is to be backed by leading institutions to provide a hedge against inflation and market volatility in the current market. The Parvis Direct Access Fund encompasses a portfolio of investments in private real estate equity including allocations in projects with the Company's developer partners and Parvis projects. The approach is a direct access strategy for growth. The Fund is being structured as a hybrid Trust and LP and is to be registered fund eligible.
About the Company
Parvis is a technology-driven real estate investing platform. Focused on broadening access to institutional quality real estate investment opportunities, Parvis promotes greater access in this historically inaccessible and illiquid asset class. Enabled by blockchain technology, Parvis makes finding, tracking, and maximizing investments an experience that is both frictionless and empowering. Parvis, headquartered in Vancouver, employs experts in Toronto, Vancouver, Kelowna and Montreal. Additional information about Parvis is available at www.parvisinvest.com and on SEDAR at www.sedar.com.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements") within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. . Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: final acceptance of the Exchange of the Qualifying Transaction and the issuance of the Final Exchange Bulletin; commencement of trading of the Common Shares; and the Company's business plans and role in the real estate industry. To develop the forward-looking information in this news release, the Company made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of the Company to execute and achieve its business objectives. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; changes in general economic, business and political conditions; changes in applicable laws and regulations; compliance with extensive government regulation; reliance on key and qualified personnel; risks associated with the real estate and technology industries in general; and the risk factors disclosed under the heading "Risk Factors" in the Filing Statement. The foregoing list of material risk factors and assumptions is not exhaustive. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Investors are cautioned that, except as disclosed in the management information circular or Filing Statement prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
For further information:
David Michaud, CEO, Parvis.
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Katie Green, August Strategy Inc.
Claudia Labelle, August Strategy Inc.
SOURCE: Parvis Invest Inc.
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