TORONTO–(BUSINESS WIRE)–$KNR #esg—Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol Technologies” or “Kontrol” or “Company”) announces its results for the three months and year to date ended September 30, 2024. A complete set of the Financial Statements and Management’s Discussion & Analysis have been filed on SEDAR (www.sedar.com).

“As part of our strategic initiatives to focus on the growth of our sustainable buildings platform we have exited two businesses with a substantial gain, paid down all secured debt and have a significant cash balance to execute with,” said Paul Ghezzi, CEO of Kontrol. “Following the quarter, we initiated our bitcoin on balance sheet strategy and will focus on building the business through organic growth and acquisitions.”

Third Quarter and Year to Date 2024 Highlights

• As at September 30, 2024 the Company’s aggregate cash and marketable securities balance was $11.6 million.
• A gain on sale of $13.3 million was recognized during the first half of 2024 in connection with the sale of air monitoring and compliance related assets.
• In the first half of 2024, the Company paid off all interest-bearing bank debt and completed the sale of air testing, air monitoring and compliance related assets which raised significant internal cash.
• The Company anticipates collecting approximately $1.2 Million of indemnity holdbacks in 2025 related to the prior sale of two businesses. This is subject to no indemnity claims made by the Buyer.
• Revenues for the three months ended September 30, 2024 were $1.7 million, compared to $4.5 million for the same quarter in the prior year; Revenues for the nine months ended September 30, 2024 were $9.2 million, compared to $13.7 million for the same period in the prior year.
• Gross margin for the nine months ended September 30, 2024 was 57%, compared to 64% for the same period in the prior year.
• Income from continuing operations for the nine months ended September 30, 2024 was $12 million compared to $294,501 for the same period in the prior year. The current period includes gain on a sale of assets.
• Adjusted EBITDA from continuing operations for the nine months ended September 30, 2024 was negative $(235,315) compared to $2.8 million for the same period in the prior year.

Strategic Plan 2025

The Company’s operating platform continues to deliver high gross margins and sticky revenues in the service and maintenance of complex heating and cooling systems for approximately 400 buildings. The Company anticipates a return to operating profitability in 2025 through continued cost reductions, streamlining of operations, organic growth and tuck in acquisitions.

Normal Course Issuer Bid

During the 2024 fiscal year, the Company announced that approvals were granted for a new Normal Course Issuer Bid program to buy back common shares of Kontrol through the NEO Exchange and alternative trading systems. The Company repurchased 1,256,000 common shares for a total of $330,000 during the nine months ended September 30, 2024.

Q3 2024 and Year to Date Financial Summary

Financial Results		Three months ended				Nine months ended
		Sept 30,		Sept 30,		Sept 30,		Sept 30,
(Unaudited)		2024		2023		2024		2023
Revenue		$1,737,947		$4,543,367		$9,179,006		$13,682,711
Gross profit		$924,580		$3,149,791		$5,277,181		$8,689,905
Income (loss) from continuing operations		$(805,444)		$665,558		$12,049,058		294,501
Gain from discontinued operations		–		–		–		$21,786,635
Comprehensive income (loss)		$(931,032)		$665,558		$11,923,470		$22,081,136
Basic EPS – continuing operations		$(0.01)		$0.01		$0.21		$0.01
Diluted EPS – continuing operations		$(0.01)		$0.01		$0.17		$0.01
Basic EPS – discontinued operations		–		–		–		$0.40
Diluted EPS – discontinued operations		–		–		–		$0.32
Add/Deduct for Adjusted EBITDA reconciliation – continuing operations:
Amortization and depreciation		$164,514		$361,386		$615,231		$1,080,895
Finance expense		$(43,800)		$316,411		$206,829		$1,218,755
Gain on sale of assets		$(40,407)		–		$(13,281,812)		–
Share based compensation		$49,785		$13,292		$175,379		$247,005
Adjusted EBITDA (loss) – continuing operations		$(675,352)		$1,356,647		$(235,315)		$2,841,156

Adjusted EBITDA is a non-International Financial Reporting Standards (“IFRS”) measure used by management that is not defined by IFRS. Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Management believes that Adjusted EBITDA provides meaningful and useful financial information as these measures demonstrate the operating performance of the business excluding non-cash charges.

“Adjusted EBITDA” is calculated as net income or loss before interest, income taxes, amortization, and depreciation, share based compensation, acquisition related expenses, listing expense, gain or loss on sale of assets, and impairment of assets.

Readers are cautioned that Adjusted EBITDA should not be construed as an alternative to net income as determined under IFRS; nor as an indicator of financial performance as determined by IFRS; nor a calculation of cash flow from operating activities as determined under IFRS; nor as a measure of liquidity and cash flow under IFRS. The Company’s method of calculating Adjusted EBITDA may differ from methods used by other companies and, accordingly, the Company’s Adjusted EBITDA may not be comparable to similar measures used by any other company.

Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings. Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com.

https://facebook.com/kontroltechcorp/
https://twitter.com/kontrolgroup
https://www.linkedin.com/company/kontrol-group

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.

However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company’s product and service offering as expected; the ability to complete company acquisitions, the bitcoin on balance sheet strategy, the ability to return to profitability in 2025 and government and regulatory factors impacting the energy conservation industry.

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

Contacts

Kontrol Technologies Corp.
Paul Ghezzi, CEO

info@kontrolcorp.com
11 Cidermill Avenue, Suite 201

Vaughan, ON L4K 4B6

Tel: (905) 766.0400

Not for distribution to U.S. News Wire Services or dissemination in the United States.

TORONTO–(BUSINESS WIRE)–#ChoiceProperties–Choice Properties Real Estate Investment Trust (“Choice Properties”) (TSX: CHP.UN) announced today that the trustees of Choice Properties have declared a cash distribution for the month of November, 2024 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on December 16, 2024 to Unitholders of record at the close of business on November 29, 2024.

About Choice Properties Real Estate Investment Trust

Choice Properties is a leading Real Estate Investment Trust that creates enduring value through places where people thrive.

We are more than a national owner, operator and developer of high-quality commercial and residential real estate. We believe in creating spaces that enhance how our tenants and communities come together to live, work, and connect. This includes our industry leadership in integrating environmental, social and economic sustainability practices into all aspects of our business. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.

For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedarplus.ca.

Contacts

For further information:


Mario Barrafato

Chief Financial Officer

Choice Properties REIT

(416) 628-7872

Mario.Barrafato@choicereit.ca

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (NASDAQ: REAX) (“Real” or the “Company”), a technology platform reshaping real estate for agents, home buyers and sellers, today announced that its Chairman and Chief Executive Officer, Tamir Poleg, will present at the following investor conferences:

RBC Global Technology, Internet, Media and Telecommunications Conference:

Date: Tuesday, November 19, 2024

Time: 12:00 p.m. ET

Webcast link: https://kvgo.com/rbc/the-real-brokerage-nov-2024

Stephens Annual Investment Conference:

Date: Wednesday, November 20, 2024

Time: 3:00 p.m. ET (2:00 p.m. CT)

Webcast link: https://wsw.com/webcast/stph35/reax/1833840

Needham 4^th Annual Consumer Tech / E-commerce Virtual Conference:

Date: Monday, November 25, 2024

Time: 10:15 a.m. ET

Webcast link: https://wsw.com/webcast/needham142/reax/2251152

Real’s remarks will be broadcast live, and a replay will be available for one year at the links above, and on the investor relations section of the company’s website at https://investors.onereal.com/.

About Real

Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports over 22,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses. Additional information can be found on its website at www.onereal.com.

Contacts

For additional information, please contact:

Ravi Jani

Vice President, Investor Relations and Financial Planning & Analysis

investors@therealbrokerage.com
908.280.2515

For media inquiries, please contact:

Elisabeth Warrick

Senior Director, Marketing, Communications & Brand

elisabeth@therealbrokerage.com
201.564.4221

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announced today that its Board of Trustees has declared +2.4% increase to it’s annualized distribution to $0.86 from $0.84 per unit.

“Primaris’ Differentiated Financial Model combined with strong growth in same-property NOI, occupancy, leasing spreads and recovery ratios, and expected continued strong growth across these metrics, supports our fourth annual distribution increase,” said Alex Avery, Chief Executive Officer. “REITs with track records of consistent annual distribution increases have historically delivered above average total returns and been included in exclusive indices that focus on dividend growers.”

Inclusive of the annual distribution increase effective with the Spin-Off Transaction dated December 31, this is Primaris’ fourth annual distribution increase. Inclusion criteria for dividend grower indices are commonly five consecutive annual dividend/distribution increases. The increase is effective for the month of December 2024, and payable January 15, 2024.

This increase is consistent with the REIT’s targets for the period ending December 31, 2027 which were presented at Primaris’ Investor Day in Halifax held on September 24, 2024, of a 2% to 4% annual distribution increases.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in leading enclosed shopping centres located in growing mid-sized markets. The portfolio totals 13.4 million square feet valued at approximately $4.1 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

For more information:       TSX: PMZ.UN       www.primarisreit.com       www.sedarplus.ca

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

Claire Mahaney

VP, Investor Relations & ESG

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

Making use of Ontario government changes and local municipal willingness, Marshall Homes cuts approval times, triples density, and passes down $20,000 in savings for future homebuyers in the Durham Region.

TORONTO–(BUSINESS WIRE)–In response to Ontario’s housing crisis, Marshall Homes has secured quick government collaboration to approve its new community of urban townhomes, “Time” in just five weeks — expediting conventional approval timelines. This groundbreaking acceleration of approving an Official Plan Amendment and Zoning Bylaw comes at a crucial moment when the province faces a dire shortage of affordable housing.

In addition to the speedy approval process, the original project proposal for “Time” was expanded from 27 homes to 81 homes, creating a 300% increase in much-needed homes within Durham Region. By reducing the approval process by 93% and completing the development proposal in just five weeks — compared to the typical 18-24 month timeframe — Marshall Homes is poised to make homeownership more attainable, with prices starting in the low $600,000s—far below the average attached housing price of $851,733 in the area. The accelerated approvals process and increased number of homes from the original proposal passes down $20,000 in interest and consultation savings for future homebuyers, making it one of the most affordable townhome options available in the region.

“I want to express my heartfelt gratitude to Mayor Collier, Premier Ford, Ajax Tarion, TRCA, and HCRA teams for their incredible support. Their response to progressive legislation truly makes a difference in improving affordability,” says Craig Marshall, Founder and President of Marshall Homes. “Their willingness to collaborate has allowed us to bring much-needed homes to market, mitigating the usual delays and extra costs that come with lengthy approval processes, which in turn allows us to pass savings down to homeowners. The urgency of more homes is getting through to all levels of governmental authority and more importantly to the people that work there. It is infectious.”

“Through initiatives like the “Time” project, we are demonstrating how effective collaboration between government and private developers can lead to innovative solutions for housing shortages,” said Shaun Collier, Mayor of the Town of Ajax. “We remain committed to supporting projects that not only provide homes but also contribute to the overall well-being of our communities.”

The architectural firm, Hunt Design Associates, designed the “Time” project. It features thoughtfully crafted urban bungalows and two-level townhomes. The designs prioritize accessibility and long-term livability, some with stair-free layouts that enhance residents’ comfort and functionality. The contemporary architecture features large windows that flood spaces with natural light. This serves to improve the quality of life and health for the homeowners. The natural light and high ceilings create an open, expansive feel in the spaces. The development features a diverse suite mix of 2 bedroom options ranging from 800 – 1,200 square feet, catering to various family needs. Each suite will include on-site parking making “Time” well-suited for families looking to put down roots in the Durham region.

Located just north of Kingston Road with easy access to the 401, Ajax offers an ideal mix of convenience and community. Situated on the edge of the Duffins Trail System in Central Ajax, the “Time” development is within walking distance of the expansive greenspace, perfect for those looking for a natural oasis. Residents with families will enjoy the walkable proximity of over five primary and secondary schools. For those who work and play just outside the city, “Time” is an 8-minute drive from the Ajax GO station and Highway 401.

Inside the region, residents will enjoy easy access to local amenities, including the Pickering Golf Club, Pickering and Ajax casinos, the waterfront, and the Audley Recreation Centre, all within a ten-minute drive. This strategic location ensures that future homeowners enjoy vibrant community life and essential services.

This development not only fills a critical gap in the local housing supply but also serves as a model for future projects. Marshall Homes remains committed to innovation and efficiency in the housing sector, with a focus on creating quality homes in well-connected communities.

Suites at “Time” will start from the low $600,000s. Register now for exclusive updates and early access to secure one of Durham’s most affordable homes at marshallhomes.ca/communities/time.

About Marshall Homes

Marshall Homes is a leader in the homebuilding industry, with over 30 years of experience creating well-designed, energy-efficient homes that prioritize the resident experience. The company focuses on delivering boutique enclaves and custom homes throughout Durham and cottage country, consistently exceeding industry standards with features like solar and geothermal heating. Under the leadership of President Craig Marshall, Marshall Homes continues to set benchmarks for excellence in the residential construction sector. For more information on Marshall Homes and their communities, visit: www.marshallhomes.ca.

Contacts

For media inquiries, please contact:
Chantel Cassar

Co-Founder

Category Communications

chantel@categorycomms.com
647-621-1323

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announced today that its Board of Trustees has declared a distribution of $0.07 per unit for the month of November 2024, representing $0.84 per unit on an annualized basis. The distribution will be payable on December 16, 2024 to unitholders of record on November 29, 2024.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in leading enclosed shopping centres located in growing mid-sized markets. The portfolio totals 13.4 million square feet valued at approximately $4.1 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

For more information:

TSX: PMZ.UN

www.primarisreit.com

www.sedarplus.ca

 

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

Claire Mahaney

VP, Investor Relations & ESG

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

• Leading manufacturers representatives focused on servicing the municipal water and wastewater treatment markets
• Leading vacuum pump sales, repair, and maintenance provider servicing the electronics, food & beverage, and biomedical markets
• Enhances DXP’s geographic reach and capabilities
• Continues to accelerate DXP’s end market diversification
• Attractive margins and cash flow

HOUSTON–(BUSINESS WIRE)–#DXPE—DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that is has completed the acquisitions of Burt Gurney & Associates (“BGA”) and MaxVac Inc. (“MaxVac”). DXP funded the acquisitions with cash on the balance sheet.

BGA is a leading manufacturers representative in the municipal water and wastewater treatment headquartered in Omaha, Nebraska. MaxVac is a leading vacuum pump sales, repair and maintenance provider servicing the Central Valley and San Francisco, California markets focused on customers in the electronics, semiconductor, food & beverage, pharmaceutical and biomedical markets.

David R. Little, Chairman and Chief Executive Officer remarked, “We are pleased to welcome the Burt Gurney and MaxVac employees to the DXP team. Both are well-run businesses focused on providing value-added products and services to the water and vacuum pump markets. BGA will provide DXP’s Water division with new geographic territory and MaxVac will provide enhanced product and reach for DXP’s vacuum pump capabilities. BGA and MaxVac are great companies with key differentiators and provides us with high caliber people.”

Signing of the definitive agreements occurred on November 1, 2024. Sales and adjusted EBITDA for BGA and MaxVac for the last twelve months ending September 30, 2024, were approximately $11.7 million and $1.6 million, respectively. Adjusted EBITDA was calculated as income before tax, plus interest, depreciation and amortization, plus non-recurring items that will not continue after the acquisition.

Kent Yee, Chief Financial Officer added, “We are excited to welcome the talented and hardworking employees of Burt Gurney and MaxVac to the DXP team. The addition of BGA furthers us in our mission to build DXP Water into a full-line products and service focused platform servicing the municipal and industrial water and wastewater treatment markets. MaxVac provides us with a new platform to continue to scale and build vacuum pump, repair, and maintenance capabilities. We look forward to continuing on this path in 2025 as we scale DXP.”

Non-GAAP Financial Measures

DXP supplements reporting of net income with non-GAAP measurements, including EBITDA, Adjusted EBITDA and free cash flow. This supplemental information should not be considered in isolation or as a substitute for the unaudited GAAP measurements. Additional information regarding EBITDA referred to in this press release is included below under “–Unaudited Reconciliation of Non-GAAP Financial Information.”

The Company believes EBITDA provides additional information about: (i) operating performance, because it assists in comparing the operating performance of the business, as it removes the impact of non-cash depreciation and amortization expense as well as items not directly resulting from core operations such as interest expense and income taxes and (ii) the performance and the effectiveness of operational strategies. Additionally, EBITDA performance is a component of a measure of the Company’s financial covenants under its credit facility. Furthermore, some investors use EBITDA as a supplemental measure to evaluate the overall operating performance of companies in the industry. Management believes that some investors’ understanding of performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing ongoing results of operations. By providing this non-GAAP financial measure, together with a reconciliation from net income, the Company believes it is enhancing investors’ understanding of the business and results of operations, as well as assisting investors in evaluating how well the Company is executing strategic initiatives.

About DXP Enterprises, Inc.

DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (“MROP”) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.

The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission.

Contacts

Kent Yee

Senior Vice President CFO

713-996-4700 – www.dxpe.com

TORONTO–(BUSINESS WIRE)–This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release. All dollar amounts in our tables are presented in thousands of Canadian dollars, except unit and per unit amounts, unless otherwise stated.

DREAM IMPACT TRUST (TSX: MPCT.UN) (“Dream Impact”, “we”, “our” or the “Trust”) today reported its financial results for the three and nine months ended September 30, 2024 (“third quarter”).

During the third quarter, the Trust closed on the sale of two office buildings, 10 Lower Spadina and 349 Carlaw, for net proceeds of $30.1 million. Funds were immediately used to repay the Trust’s credit facility balance, with the remaining proceeds slated for operating costs and capital spend. Completing these asset sales was important to the Trust’s liquidity goals, as we make further advancements on stabilizing our multi-family portfolio.

During the third quarter, CMHC announced a new program, the Frequent Builder Framework, to accelerate the construction of affordable rentals by expediting the application process for established housing providers. As part of the Dream group of companies, the Trust has been identified as eligible for the program. The Trust will continue to pursue financing opportunities with CMHC for the development of our existing and future pipeline of multi-family rental assets.

As previously reported, the Trust has a wholly owned 88,000 square foot (“sf”) property in downtown Toronto, referred to as 49 Ontario. The asset, including the adjacent land assembly, is slated for re-development with re-zoning that allows for 800,000 sf of residential density or approximately 1,200 rental units. Over the course of the year, the Trust has been working closely with various levels of government to better position the site for construction commencement and to bring in a partner for re-development. In light of policy changes, interest rate adjustments and favourable financing terms, the project could start construction within the next 12 months. We are continuing to evaluate opportunities to bring in a partner for the $700 million redevelopment and best position the Trust to unlock value from the asset while supporting our liquidity needs. Further updates will be provided as milestones progress.

“Over the last year we have made significant progress leasing up the completed apartment buildings, raising capital from asset sales and paying off our revolving credit facility,” said Michael Cooper, Portfolio Manager. “We are pleased with our progress on raising capital from asset sales and completing loan renewals. We have also made progress on the pre-development of Quayside and 49 Ontario. While the environment for residential development in Toronto is very challenging, we continue to make progress and are working towards commencement of these two large developments over the next 18 months.”

Selected financial and operating metrics for the three and nine months ended September 30, 2024 are summarized below:

	Three months ended September 30,					Nine months ended September 30,
(in thousands of dollars, except per Unit amounts)	2024		2023			2024		2023
Condensed consolidated results of operations
Net loss	$	(7,550)	$	(12,418)		$	(17,728)	$	(24,438)
Net operating income (“NOI”) – recurring income (“NOI-recurring income”)(1)		4,213		4,191			14,412		12,866
Net income (loss) per unit(1)		(0.42)		(0.72)			(0.99)		(1.43)
Units outstanding – end of period		18,110,940		17,287,196			18,110,940		17,287,196
Units outstanding – weighted average		18,106,406		17,260,369			17,891,403		17,074,952

As at	September 30, 2024		December 31, 2023
Condensed consolidated financial position
Total assets	$	691,074	$	707,426
Total liabilities		282,554		278,769
Total unitholders’ equity		408,520		428,657
Total unitholders’ equity per unit(1)		22.56		24.39

In the third quarter, the Trust reported a net loss of $7.6 million compared to $12.4 million in the prior year. The improvement in earnings was driven by the magnitude and composition of fair value adjustments in each period ($7.7 million), partially offset by normal course transaction costs related to the sale of 10 Lower Spadina and 349 Carlaw ($0.9 million), fluctuation in the deferred income tax recovery ($1.3 million) and interest expense recognized on multi-family assets in the lease-up phase which were previously capitalized ($0.5 million). Per the Trust’s accounting policy, interest is no longer capitalized once development assets are substantially complete.

Liquidity Update

As at September 30, 2024, the Trust had total cash-on-hand of $23.8 million and a debt-to-asset value⁽²⁾ of 39.7%, which was consistent with prior quarter due to offsetting movements.

As of period end, the Trust’s debt profile included $271.9 million of consolidated debt and its proportionate share of debt from equity accounted investments of $866.3 million. Of these amounts, $25.7 million matures in 2024 relating to two passive investments. Extensions for both facilities are in progress. A further $320.7 million of debt will mature in 2025, down significantly from the prior quarter as $122.3 million of refinancing activity was completed in the period. As of November 1, 2024, the Trust is in active discussions for extensions planned for $195.0 million of 2025 debt maturities.

For further details refer to the “Capital Resources and Liquidity” section of the Trust’s management’s discussion and analysis (“MD&A”) for the three and nine months ended September 30, 2024.

Recurring Income

During the third quarter, the Trust’s recurring income segment generated a net loss of $7.0 million compared to $17.1 million in the prior year. Net fair value losses of $4.9 million were recognized in the period, driven by discount and cap rate expansion on a commercial property in Ottawa, partially offset by gains at Aalto Suites, Aalto II and Maple House at Canary Landing due to leasing progress. In addition, earnings for the third quarter included $0.9 million in transaction costs related to the sale of 10 Lower Spadina and 349 Carlaw. Fair value adjustments were not directly comparable to prior year.

Multi-family rental properties

In the third quarter, same property NOI⁽¹⁾ was $1.7 million compared to $1.4 million in the prior year driven by higher monthly rents, lower operating expenses and a reversal of bad debt expense provided for earlier in the year.

Leasing continues to steadily progress at Aalto II and Maple House at Canary Landing which generated NOI⁽¹⁾ of $0.3 million for the Trust in the third quarter. As at September 30, 2024, in-place and committed occupancy was 76.4% at Aalto II and 74.4% at Maple House at Canary Landing. NOI⁽¹⁾ contribution from these assets will continue to increase as the assets achieve stabilization, anticipated by the end of 2025. In addition, Zibi Block 206 is in lease-up and is 50% leased as at September 30, 2024. The asset is expected to be transferred to the Trust’s recurring income segment in early 2025.

Over the course of the third quarter, construction continued to progress well at Birch House (238 multi-family units) and Cherry House (855 multi-family units) at Canary Landing in downtown Toronto. Leasing of units at Birch House launched in September and first occupancies are anticipated in the fourth quarter of 2024. Based on current construction timelines, we anticipate leasing at Cherry House to launch by the second half of 2025. The Trust has a 25% interest in the Canary Landing rental buildings.

Debt from the Trust’s multi-family portfolio carries a weighted average term of 4.9 years at a weighted average interest rate of 2.7%.

Commercial

In the third quarter, NOI⁽¹⁾ from commercial properties was $2.2 million compared to $2.7 million in the prior year. The decrease in NOI⁽¹⁾ was driven by lease terminations in specific office properties, in addition to the sale of 10 Lower Spadina and 349 Carlaw which closed mid-quarter. Partially offsetting this was NOI⁽¹⁾ contribution from the occupancy of the anchor tenant at 68-70 Claremont earlier in the year.

Development

In the third quarter, the development segment reported a nominal net loss compared to income of $3.1 million in the prior year. Prior year results included a fair value gain on Maple House at Canary Landing as the building achieved leasing milestones in the latter half of 2023 prior to its transfer to the recurring income segment.

In October 2024, the construction loan for Brightwater I and II was repaid using closing proceeds from units occupied. Subsequent to quarter end, occupancies at Brightwater Towns (106 units) commenced. The building is 98% sold and expected to close by mid 2025. Construction continues at the Mason (158 units) which is expected to occupy in the first half of 2025.

In the third quarter, the Trust transferred 98,000 sf of retail from Brightwater Phase I into the recurring income segment. As of November 1, 2024, approximately 52,000 sf of retail and commercial tenants have occupied at Brightwater, including LCBO, Farm Boy, Rexall, and BMO, with a further 3,000 sf expected to take possession by mid-2025.

During the third quarter, the Trust, alongside Dream Unlimited (“Dream”), launched the marketing of 3.27 acres of land at the 34-acre Zibi development, referred to as the Capital View Lands. The land, which has construction potential for approximately one million sf of space, is expected to be near the planned future Ottawa Senators arena site. The Capital View Lands are located in Gatineau, Quebec, adjacent to the Ottawa River. By bringing in a partner for the marketed site, we are able to accelerate the development pace for Zibi and reduce the in-place land loan for the project. The Trust has a 50% ownership interest in the Zibi development.

Income from this segment will fluctuate period to period and not contribute meaningfully to earnings until development milestones are achieved and/or project inventory is available for occupancy. While mindful of our capital spend and liquidity needs, on a strategic basis we continue to make advancements for select assets in the pre-development stage.

Other

In the third quarter, the other segment recognized a net loss of $0.5 million compared to net income of $1.5 million in the prior year. The fluctuation was driven by the income tax recovery due to the earnings composition in the period.

Footnotes

(1)		Net income (loss) per unit, total unitholders’ equity per unit, total liquidity, NOI – recurring income, NOI – commercial properties, and Same Property NOI -multi-family rental, are supplementary financial measures. Please refer to the cautionary statements under the heading “Specified Financial Measures and Other Measures” in this press release and the “Specified Financial Measures and Other Disclosures” section of the Trust’s MD&A for the three and nine months ended September 30, 2024.
(2)		Debt-to-asset value is a non-GAAP ratio, which is calculated as total debt payable, a non-GAAP financial measure, divided by the total asset value of the Trust as at the applicable reporting date. The most directly comparable financial measure to total debt payable is total debt.

Conference Call

Senior management will host a conference call on Tuesday, November 5, 2024 at 9:00 am (ET). To access the call, please dial 1-844-763-8274 (toll free) or 647-484-8814. To access the conference call via webcast, please go to the Trust’s website at www.dreamimpacttrust.ca and click on Calendar of Events in the News and Events section. A taped replay of the conference call and the webcast will be available for 90 days.

About Dream Impact

Dream Impact is an open-ended trust dedicated to impact investing. Dream Impact’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities, while generating attractive returns for investors. For more information, please visit: www.dreamimpacttrust.ca.

Specified Financial Measures and Other Measures

The Trust’s condensed consolidated financial statements are prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”). In this press release, as a complement to results provided in accordance with IFRS Accounting Standards, the Trust discloses and discusses certain specified financial measures, including total liquidity, debt-to-asset value, total debt payable, net income (loss) per unit, NOI — commercial properties, Same Property NOI – multi-family rental and debt-to-total asset value, as well as other measures discussed elsewhere in this release. These specified financial measures are not defined by or recognized measures under IFRS Accounting Standards, do not have a standardized meaning and may not be comparable with similar measures presented by other issuers. The Trust has presented such specified financial measures as management believes they are relevant measures of our underlying operating performance. Specified financial measures should not be considered as alternatives to unitholders’ equity, net income, total comprehensive income or cash flows generated from operating activities, or comparable metrics determined in accordance with IFRS Accounting Standards as indicators of the Trust’s performance, liquidity, cash flow and profitability. Certain additional disclosures such as the composition, usefulness and changes as applicable are expressly incorporated by reference from the Trust’s MD&A for the three and nine months ended September 30, 2024, dated November 4, 2024 in the section titled “Specified Financial Measures and Other Disclosures”, subsection “Non-GAAP Ratios”, heading “Debt-to-asset value”, subsection “Supplementary Financial Measures and Other Measures”, headings “Net income (loss) per unit”, “total liquidity”, “NOI — commercial properties”, and “Same Property NOI – multi-family rental” and subsection “Non-GAAP Financial Measures”, heading “Total debt payable”, which has been filed and is available on SEDAR+ under the Trust’s profile.

“Total debt payable” is defined by the Trust as the balance due at maturity for its debt instruments. Total debt payable is a non-GAAP measure and is included as part of the definition of debt-to-asset value, a non-GAAP ratio. Total debt payable is an important measure used by the Trust in evaluating the amount of debt leverage; however, it is not defined by IFRS Accounting Standards, does not have a standardized meaning and may not be comparable with similar measures presented by other issuers. Total debt payable is reconciled to total debt, the most directly comparable financial measure, below.

As at	September 30, 2024		December 31, 2023
Total debt	$	271,889	$	270,056
Unamortized discount on host instrument of convertible debentures		620		820
Conversion feature		—		(7)
Unamortized balance of deferred financing costs		1,821		2,196
Total debt payable	$	274,330	$	273,065

Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “timeline”, “potential”, “strategy”, “targets”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events.

Some of the specific forward-looking information in this press release may include, among other things, statements relating to the Trust’s objectives and strategies to achieve those objectives; the Trust’s leasing activities and the expected results thereof; expectations regarding the Trust’s disposition of commercial assets and their expected impact on the Trust’s asset class exposure and liquidity; the Trust’s expectations regarding upcoming debt maturities; the Trust’s ability to secure CMHC financing through the Frequent Builder Framework, the status of the Trust’s ongoing active development projects and the projected completion dates; remaining occupancies; Brightwater’s and Dream LeBreton’s construction status including units and GLA under construction; the Trust’s ability to attract suitable partners for its projects and the terms and impacts of such arrangements; and the Trust’s plans and proposals for current and future development and redevelopment projects, construction initiation, rezoning, completion and occupancy dates, stabilization timelines, number of units, square footage and planned GLA. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: adverse changes in general economic and market conditions; liquidity risk; financing and risks relating to access to capital; interest rate risks; public health risks; risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, and international sanctions; inflation; the disruption of free movement of goods and services across jurisdictions; the risk of adverse global market, economic and political conditions and health crises; risks inherent in the real estate industry; risks relating to investment in development projects; impact investing strategy risk; risks relating to geographic concentration; risks inherent in investments in real estate, mortgages and other loans and development and investment holdings; credit risk and counterparty risk; competition risks; environmental and climate change risks; risks relating to access to capital; interest rate risk; the risk of changes in governmental laws and regulations; tax risks; foreign exchange risk; the risk that corporate activities and reviews will not have the desired impact; acquisitions risk; and leasing risks. Our objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable; the gradual recovery and growth of the general economy continues in 2024; that no unforeseen changes in the legislative and operating framework for our business will occur; that there will be no material change to environmental regulations that may adversely impact our business; that we will meet our future objectives, priorities and growth targets; that we receive the licenses, permits or approvals necessary in connection with our projects; that we will have access to adequate capital to fund our future projects, plans and any potential acquisitions; that we are able to identify high-quality investment opportunities and find suitable partners with which to enter into joint ventures or partnerships; that we do not incur any material environmental liabilities; there will not be a material change in foreign exchange rates; that the impact of the current economic climate and global financial conditions on our operations will remain consistent with our current expectations and that inflation and interest rates will not materially increase beyond current market expectations; our expectations regarding the availability and competition for acquisitions remains consistent with the current climate.

All forward-looking information in this press release speaks as of November 4, 2024, unless otherwise noted. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in the Trust’s filings with securities regulators filed on the System for Electronic Document Analysis and Retrieval+ (www.sedarplus.com), including its latest annual information form and MD&A. These filings are also available at the Trust’s website at www.dreamimpacttrust.ca.

Contacts

For further information, please contact:

Meaghan Peloso
Chief Financial Officer

416 365-6322

mpeloso@dream.ca

Kimberly Lefever
Director, Investor Relations

416 365-6339

klefever@dream.ca

TORONTO–(BUSINESS WIRE)–$KNR #esg—Kontrol Technologies Corp. (Cboe CA:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”) operates a sustainable buildings platform for customers including REITS, municipalities, property managers and industrial and commercial buildings.

Following a Board review and approval the Company has initiated the addition of Bitcoin or Bitcoin related proxies to its Balance Sheet with an initial investment of $1 Million. The Company is also working towards a continuous purchase plan which may include re-investment of future cash flows and/or treasury assets. Further information will be provided when that plan is established.

“With institutional adoption accelerating we believe now is an opportune time to initiate and develop our long-term bitcoin strategy,” says Paul Ghezzi, CEO of Kontrol. “Bitcoin is now being mined with growing sustainable energy solutions such as wind, solar and geothermal and we anticipate that will continue. We also see a potential to grow into that operating market and develop new solutions and partnerships.”

The Company has no long term secured debt, is generating interest income from its treasury holdings and has sufficient capital on hand to execute on its mergers and acquisitions strategy as previously disclosed in the press release dated October 29, 2024.

Additional Bitcoin Opportunities related to Sustainability

According to Forbes.com, Bitcoin may provide a positive net effect to sustainable energy… While environmentalists have pilloried the cryptocurrency in years past, new research shows that more than 50% of bitcoin’s power mix now comes from renewables. source: Forbes.com

The Company is reviewing potential opportunities to work with or partner with bitcoin mining related companies who are seeking to use excess energy generated during the bitcoin mining process to power traditional building infrastructure. The Company has not entered into any such agreements at this time and will provide a market update should it do so.

Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities and provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Forward-looking information contained in this press releases includes, but is not limited to, the following: the potential benefits of an acquisition; the completion of a Letter of Intent; the addition of Bitcoin to the Company’s balance sheet, the future operations of the Company; and the Company’s ability to make accretive acquisitions.

Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that the Company will have sufficient financial and other resources to fulfil expectations with respect to future operations and meet contractual payment obligations.

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

Contacts

Paul Ghezzi, CEO

info@kontrolcorp.com
11 Cidermill Avenue, Suite 201

Vaughan, ON L4K 4B6

Tel: (905) 766.0400

HOUSTON–(BUSINESS WIRE)–#DXPE—DXP Enterprises, Inc. (the “Company”) (NASDAQ: DXPE), a leading business to business products and service distributor that adds value and total cost savings solutions to MRO and OEM customers in virtually every industry, plans to issue a press release announcing its financial results for the third quarter ended September 30, 2024, on Monday, November 4^th. The earnings announcement will be released after the U.S. stock market closes. DXP will host a conference call, to be web cast live, on the Company’s website (www.dxpe.com) at 10:30 AM Central Time on Tuesday, November 5^th.

The call and an accompanying slide presentation will be on the “Investor Relations” section of DXP’s website at www.dxpe.com. A replay of the webcast will be available shortly after the conclusion of the presentation.

DXP’s earnings press release, the slides and other related presentation materials will be posted to the “Investor Relations” section of DXP’s website under the subheading “Financial Information” after the market closes on the date of the earnings call and will remain available following the call.

Web participants are encouraged to go to the Company’s website (www.dxpe.com) at least 15 minutes prior to the start of the call to register, download and install any necessary audio software.

The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. For more information, review the Company’s filings with the Securities and Exchange Commission.

Contacts

DXP Enterprises, Inc.

Kent Yee, 713-996-4700

Senior Vice President, CFO

www.dxpe.com

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (NASDAQ: REAX, “Real” or the “Company”) today announced that on October 31, 2024, Judge Stephen R. Bough of the United States District Court for the Western District of Missouri granted final approval of the Settlement Agreement the Company entered into to resolve pending class action litigation, Umpa v. NAR, No. 4:23-cv-00945 (W.D. Mo.), on a nationwide basis (the “Settlement Agreement”). The Company first announced the Settlement Agreement on April 8, 2024.

As previously disclosed, the Settlement Agreement conclusively addresses all claims asserted against Real in the Umpa lawsuit, releasing Real, its subsidiaries, and affiliated agents from these claims. The Settlement Agreement does not constitute an admission of liability by Real, nor does it concede or validate any of the claims asserted in the litigation.

Under the terms of the Settlement Agreement, Real paid $9.25 million into a qualified settlement fund within 30 days after the District Court granted preliminary approval of the settlement on April 30, 2024. The Company does not foresee the settlement terms having a material impact on its future operations.

The Settlement Agreement will become effective following any appeals process, if applicable.

About Real

Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence throughout the U.S. and Canada, Real supports more than 22,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding the settlement and settlement agreement.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations,performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets, economic and industry downturns, Real’s ability to attract new agents and retain current agents and those risk factors discussed under the heading “Risk Factors” in the Company’s Annual Information Form dated March 14, 2024, a copy of which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Contacts

Investor inquiries:

Ravi Jani

Vice President, Investor Relations and Financial Planning & Analysis

investors@therealbrokerage.com
908.280.2515

Media inquiries:

Elisabeth Warrick

Senior Director, Marketing, Communications & Brand

elisabeth@therealbrokerage.com
201.564.4221

The iGUIDE PLANIX R1 is designed for precision, speed, and efficiency, pushing the boundaries of digital twin technology adoption

WATERLOO, Ontario–(BUSINESS WIRE)–Planitar Inc., makers of iGUIDE, a proprietary camera and software platform for capturing and delivering 3D virtual tours and property data, today introduced the iGUIDE PLANIX R1, a fast, lightweight, and affordable lidar-equipped 360-degree camera system for creating accurate floor plans, 3D tours, ESX files, CAD drawings and 3D models.

“The PLANIX R1’s compact, rugged design, combined with its speed and accuracy, sets it apart from traditional rotating cameras, which are often more cumbersome, slower to operate, and costly to process,” said Alexander Likholyot, CEO and co-founder of Planitar, Inc. “The PLANIX R1 enables users to achieve professional results with a single snap from a high-resolution, 360-degree, lidar-equipped device that can go anywhere. It’s the next step in the evolution of our PLANIX cameras, featuring a streamlined system architecture that delivers robust capture capabilities and an unparalleled experience for everyday use and capturing anything, from very small to very large spaces.”

Building on a decade of iGUIDE hardware innovation, the PLANIX R1 is a quick-capture camera system that delivers unsurpassed accuracy in floor plans and easy-to-navigate 3D virtual tours. Once captured, the rich property data can seamlessly be uploaded to the iGUIDE Portal via the iGUIDE PLANIX mobile app. Depending on the project type, an iGUIDE 3D virtual tour and floor plan can be delivered in minutes, with complete 3D CAD drawing packages available within a few days.

PLANIX R1 key features include:

• Improved visuals: As the next evolution of the PLANIX camera system, the R1 offers higher image resolution with better colors and contrasts for higher-quality images within the iGUIDE 3D Virtual Tour, powered by the fully integrated Ricoh THETA X 360-degree camera.
• Trusted iGUIDE accuracy: The R1’s lidar delivers enhanced accuracy, limiting measurement uncertainty in distance measurements on floor plans to 0.5% or better and in square footage to 1% or better.
• Compact and rugged design: The R1 is small and weighs just 980g, (2.2 lbs.), making it easy to carry in any camera bag and combine with other gear. The system cover protects imaging and measurement optics from elements during storage.
• All-day battery life: Thanks to the R1’s long-lasting battery, photographers and capture specialists can shoot all day without changing batteries or connecting to an external battery pack. Replacement batteries can be conveniently obtained from hardware stores.
• No monthly subscriptions: No monthly fees mean flexibility and no extra fixed costs. Processing and 1-year hosting are included with iGUIDE pay-per-project fee structure and customers can download their data for self-hosting or offline use.

“The new PLANIX R1 incorporates numerous improvements for a more efficient and capable device. The integration of iGUIDE technology into my business has been a key component of our success, and with the new PLANIX R1, iGUIDE improves our ability to get the job done faster and deliver enhanced results to our clients,” said Doug Logan, founder, Fine Homes Photography, who shared his thoughts after being part of a pre-release group that got to experience the PLANIX R1 before its official launch.

For professionals in real estate, architecture, engineering, construction, insurance and restoration, the PLANIX R1 is the most affordable 360-degree camera with lidar technology in its class. It retails for $2,499 US and $3,399 CDN, making it accessible to photographers and capture specialists. Various file outputs and reliable operator support make the PLANIX R1 the most flexible solution.

For more information, visit: goiguide.com.

About Planitar:

Founded in 2013 in Kitchener, Ontario, Canada, Planitar Inc. is the maker of iGUIDE, a proprietary camera and software platform for capturing and delivering immersive 3D virtual tours and extensive property data. iGUIDE is the most efficient system to map interior spaces and features accurate floor plans, measurements and reliable property square footage. By integrating floor plans and visual data, iGUIDE provides an intuitive and practical way to navigate and explore built environments digitally. For more, visit goiguide.com.

Contacts

Skylar Lawrence-LeBel

647-455-0585

skylar@planitar.com