Parvis Announces The Launch of its Secondary Market For Real Estate
VANCOUVER, BC, July 5, 2023 /PRNewswire/ - 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, announces today the launch of its Secondary Market to Parvis investors.
The creation of the Secondary Market brings unprecedented freedom to investors who hold private market real estate investments. They will now have the ability to trade their investment in a stock-like manner. Gone are the days of capital being tied up for five to 10 years. With Parvis Secondary Market, investors can now consider selling their positions within the first year of the initial investment. The Secondary Market provides the ability to buy and sell Parvis closed-end investments before maturation date, giving investors the ability to meet long term goals while having flexibility and reducing liquidity risk. Meanwhile, for issuers, the Parvis Secondary Market serves as an unparalleled tool to attract more capital by mitigating liquidity risk.
"Real estate has historically been a high-performing asset to invest in, however a significant barrier for investors has been the lack of liquidity in the space," Parvis CEO and Founder David Michaud said "The Parvis Secondary Market gives people more flexibility to buy and sell their position when the need arises. This is an important part of our business, enabling our platform to go beyond bringing access and control to investors by also making investing in our assets as easy and approachable as buying and selling stocks."
Accredited and eligible investors will be able to transact in the Parvis Secondary Market during liquidity openings with sellers and buyers determining the price themselves. Sellers will pay a 1% fee of the gross sale price to transact. "We are extremely proud to launch the beta version of the Parvis Secondary Market. The team has worked tirelessly to bring this vision to fruition and look forward to providing an alternative to investors that have limited options when wanting an early exit. Backed by blockchain technology, we plan to enable more features, functionality and to evolve the marketplace in the near future," said Guillermo O'Byrne, Senior Product Manager at Parvis.
With the addition of the Parvis Secondary Market, the business remains steadfast in its commitment to improving the financial futures of individuals by providing access to unique real estate opportunities in a more modern and flexible way. Qualified investors can now access our offerings by signing up at parvisinvest.com, Canada's go-to platform for unlocking exciting real estate investment opportunities.
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, 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.
SOURCE Parvis Invest Inc.