Yorkton Equity Group Inc. announced that it has received CAD 2.736 million in funding
December 18, 2023
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On December 19, 2023, Yorkton Equity Group Inc closed the transaction. The company issued 2,736 Convertible Debentures at an issue price of CAD 1,000 for the gross proceeds of CAD 2,736 ,000 in the transaction. The company has issued 736 Convertible Debentures at an issue price of CAD 1,000 for the gross proceeds of CAD 736,000 in the second tranche. Each Convertible Debenture has an issue price of CAD 1,000 with an interest rate of 8% per annum, payable annually to the Convertible Debenture holders 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 Debenture holder, be convertible, in whole or in part during the Term, into common shares of the Company at a conversion price of CAD 0.20 per Common Share after which such principal amount of the Convertible Debenture will be extinguished. The Convertible Debentures and any Common Shares issuable upon conversion are subject to a statutory hold period lasting four months and one day following the closing date. In connection with the closing of the Private Placement, the Company paid fees of CAD 12,800 to Sentinel Financial Management Corp. The transaction included participation from Ben Lui for 33 Debentures with a face value of CAD 1,000 per each Debenture for an amount equal to CAD 33,000. After the final tranche closing of the Private Placement, Ben Lui owns 82,511,845 Common Shares, 275,000 stock options of the Company and 2,088 unsecured convertible debentures. If all of Ben Lui?s stock options and unsecured convertible debentures were exercised, Ben Lui would own 75.53% of the issued and outstanding Common Shares, on a partially diluted basis. The transaction included participation from 13 investors including one insider for CAD 2,033,000.
On December 20, 2023, the company announced that the transaction has been approved by the TSX Venture Exchange.
Yorkton Equity Group Inc. is a Canada-based real estate investment company. The Company is focused on providing shareholders with assets through accretive acquisitions, organic growth, and the active management of multi-family rental properties with significant upside potential. Its business objectives are to achieve growing net operating income as well as the asset values in its multi-family rental property portfolio in strategic markets across Western Canada. It primarily owns a portfolio of multi-family rental properties in Alberta and British Columbia. Its geographical focus is on secondary markets in Western Canada. Its residential properties include townhouses and low and mid-rise apartments located in Alberta (Edmonton) and British Columbia (Kelowna, Langford, Penticton, and Fort St. John). It owns over nine multi-family rental properties, such as the Dwell, Larson Place, Pacific Central, Winton Terrace, Canterbury Estates, Midtown Apartments, Riviera Gardens, and others.
YORKTON EQUITY GROUP INC. 
