Ontario-Based Team Expands the Brokerage’s Canadian Footprint

TORONTO & NEW YORK–(BUSINESS WIRE)–$REAX #therealbrokerage–The Real Brokerage Inc. (“Real” or the “Company”) (NASDAQ: REAX) (TSX: REAX), an international, technology-powered real estate brokerage, today announced that The Crew Real Estate, a greater Ontario-based team, is joining its growing network of agents.

Established by Ryan Campbell in 2014, The Crew brings 17 agents to Real. The highly productive team closed approximately $300 million in home transactions over the last 12 months.

“We’re excited to join Real because it allows us to align ourselves with a community of agents that shares our core values as well as our collaborative vision for the real estate industry of the future,” Ryan said. “Being a part of Real will enable us to focus on our strengths while giving our agents access to cutting-edge technology through the Real platform.”

“We look forward to working with The Crew and expanding our Canadian presence,” said Real Chairman and CEO Tamir Poleg. “This team is known for actively supporting their community, and we’re excited to serve as their brokerage partner.”

About Real

The Real Brokerage Inc. (NASDAQ: REAX) (TSX: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for homebuyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and two Canadian provinces with over 6,000 agents. Additional information can be found on its website at www.onereal.com.

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 at the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, information relating to Real’s second quarter earnings call, the release of the second quarter financial results and the business and strategic plans of Real.

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. 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

For additional information:

Elisabeth Warrick

Director, Communications

elisabeth@therealbrokerage.com
201.564.4221

Investors, for more information:

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908.280.2515

TORONTO–(BUSINESS WIRE)–MechCan Inc. (“MechCan”) is pleased to announce a partnership with Mike Barry, the owner-operator of Comfort Zone Heating, Air Conditioning & Plumbing (“Comfort Zone” or “CZ”). Serving Cobourg, Ontario and the surrounding areas since 2005, Comfort Zone is a local market leader offering HVAC and plumbing installation and services. This marks MechCan’s third transaction since its launch in January 2022. MechCan was founded to enable owner-operators of mechanical services companies across Canada to realize the value in their business while preserving their legacy and best positioning their business for sustainable growth.

“We are excited to welcome Comfort Zone to the MechCan family of brands,” said Spencer Ross, Co-Founder of MechCan. “Mike and the CZ team have built an exceptional residential services company with a strong local reputation. Partnerships with talented entrepreneurs like Mike that do business the right way are the backbone of our strategy. This is our third transaction in Southern Ontario and we intend to continue investing heavily in the region as we build out our Canadian mechanical services platform.”

“Since its inception in 2005, Comfort Zone’s growth and success has come from one thing – happy customers,” said Mike Barry, Comfort Zone’s Co-Founder. “We are proud to service residents of our community, local home builders, renovation specialists, and inspection teams. We are confident that this partnership with MechCan will provide the resources necessary to best serve our customers and support our long-standing and loyal employees. With MechCan’s backing, Comfort Zone will invest to accelerate its growth, including the recent addition of plumbing to our core heating and cooling offering.”

Comfort Zone will continue to operate under its local brand and retain its high-quality team of technicians and support staff with Mike Barry leading the business. Through this transaction, Mike will remain a significant shareholder of CZ, become a shareholder of MechCan, and lend his decades of experience in the industry to the MechCan team to help further the buildout of its mechanical services platform.

About MechCan Inc.

MechCan is a proudly Canadian acquiror of and partner to mechanical services businesses nationwide. MechCan provides upfront liquidity, ongoing cash distributions, and long-term alignment to entrepreneurs and owners of HVAC, plumbing, controls, and other mechanical companies in return for an economic stake in their business. Partner companies maintain their local brand and continue to operate independently while benefitting from shared services and assistance with business operations.

For more information on MechCan, visit www.mechcan.ca

For more information on services offered by Comfort Zone, visit www.comfortzonecanada.com

Contacts

Media: Spencer Ross, sr@mechcan.ca

The Disruptive PropTech Platform & Its CEO, Regan McGee, Are Once Again Recognized as Industry Leaders for Stewarding Innovation & Empowerment in the Residential Real Estate Experience

TORONTO–(BUSINESS WIRE)–#Nobul–Nobul Technologies (www.nobul.com), a consumer-centric real estate technology company that connects home buyers and sellers to the right real estate agent to meet their needs, is proud to announce Regan McGee, Nobul’s CEO and founder has been named the winner of a Gold Stevie Award in the “Best Entrepreneur – Real Estate” category. This marks the most recent of multiple recent award wins that the company has received at both the organizational and executive levels, signaling its ongoing excellence, innovation, and contribution to the evolving landscape of technology and real estate.

McGee was also named a Bronze winner in the “Achievement in Growth” category by the International Business Awards. Nobul was also honored in the “Company of the Year – Real Estate – Small” category as a Bronze award recipient. The International Business Awards are open to all organizations worldwide and include categories that honor accomplishments in all aspects of business.

“I am honored to be recognized by the International Business Awards at both a personal and corporate level,” said Regan McGee, CEO and Founder of Nobul. “Every award Nobul receives validates our vision and inspires our team to continue providing a platform that brings radical transparency and empowerment to both the buyer and seller sides of the consumer experience in real estate. We would like to thank the organization for acknowledging us in this way and are excited to infuse this positive momentum back into the business.”

The International Business Awards committee honored McGee for his deep industry knowledge, tech expertise, and innovative leadership. Having created the industry’s first consumer-centric, AI-powered agent matching marketplace, McGee and his team effectively disrupted the multi-trillion dollar North American real estate market and flipped the power structure in favor of the consumer for what is likely one of the largest and most important financial transactions of their lives. Nobul received a corporate award in recognition of its ongoing successes, product and market expansion, and capacity to reimagine the residential real estate transaction in the post-pandemic era while making homeownership a more accessible reality for thousands of individuals in the United States and Canada.

“We are pleased to congratulate Regan McGee and Nobul for this cross-category sweep,” said Maggie Miller, President of the Stevie Awards. “The judges were highly impressed with the innovation and impact that’s been exhibited by Nobul’s consumer-centric digital marketplace over the past year, particularly in terms of how it is addressing long-standing, crucial gaps in the real estate experience. Winners were selected from more than 3,700 nominations submitted by organizations in 67 nations.”

To date, Nobul has helped facilitate billions of dollars in residential real estate sales across 100+ markets throughout the United States and Canada, including Delaware, Florida, Georgia, Louisiana, Maine, Massachusetts, Missouri, North Carolina, North Dakota, South Carolina, and Texas.

As the only PropTech platform of its kind, Nobul’s AI-driven agent matching algorithm arms home buyers and sellers with instant insights into the top local real estate agents in their areas who want to compete for their business. By aggregating comprehensive background data for agents (including commission, track record, transaction history and overall service offerings) automatically in one place, Nobul offers unprecedented transparency, choice, and control when it comes to buying or selling a home in these new markets across America and Canada. With no upfront risk or cost to agents, the platform also serves as an active, complimentary pipeline generator — ripe with qualified referrals, open communication, and transparent competition. As the first best step in the real estate experience, Nobul helps achieve favorable outcomes and profitable transactions for homebuyers, sellers, brokers, and agents alike.

ABOUT NOBUL

Nobul Technologies (www.nobul.com) is the world’s only open digital consumer-centric marketplace connecting home buyers and sellers to the best real estate agent for them. Nobul’s platform enables buyers and sellers to easily access real estate agents’ transaction histories, pricing, services offered, and genuine reviews from people who have actually used them. The platform brings transparency, choice, accountability and simplicity to the real estate industry through powerful innovative technology supported by real people who truly care. To date, Nobul has achieved billions of dollars in sales across more than 100 markets throughout North America, including Canada, Texas, Florida, and Georgia. The company has won many prestigious awards including the CNBC Upstart 100 Award and has crossed over $5,000,000,000 (five billion dollars) in completed sales, since its inception. For more information, please visit www.nobul.com.

Contacts

Nicole Rodrigues

NRPR Group for Nobul

nicole@nrprgroup.com

LONDON–(BUSINESS WIRE)–#ElectricalServices–H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with over $50 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired CPS Building Services Limited (“CPS” or the “Company”), a leading UK provider of mechanical and electrical (M&E) services, from its founder. CPS’ current MD, Liam Connelly, will reinvest alongside H.I.G. The financial terms of the transaction have not been disclosed.

CPS provides installation and maintenance services across heating, cooling, ventilation and electrical systems to clients in the healthcare, life sciences, defence and education end-markets. The business has developed a strong reputation for high-quality service provision in its East Anglia home market. H.I.G., together with the management team, aims to continue CPS’ track record of organic growth with a particular focus on growing its electrical and maintenance offerings. The existing management team of CPS will remain in place.

H.I.G. intends to use CPS to form the core of a wider technical building services group by acquiring businesses active in fire protection, water and pumps, lifts maintenance, access and security, and associated compliance services. H.I.G. is partnering in this effort with Jonathan Simpson-Dent who will take the role of executive chairman of the group. Several active acquisition discussions are currently underway.

Liam Connelly remarked, “This is an exciting new chapter and testament to the commitment of the team to serving our clients and building the CPS business. Together with H.I.G., our joint vision will create a unique range of essential building services and expertise that will benefit our clients.”

Jonathan Simpson-Dent said, “Liam and his team have built a very impressive business at CPS, one that is focused on delivering quality service to its customers and has an unparalleled reputation in its local market. I’m excited to be working with Liam on the next phase of growth at CPS and driving expansion into associated service lines through M&A to create a one-stop shop for customers of technical building services.”

John Harper, Head of the H.I.G. Europe Lower Middle Market LBO team in London, said, “We are very excited to be partnering with Liam, Jonathan and the CPS team to build on the Company’s track-record of success. CPS’ reputation for exceptional service and high-quality delivery has stood out to us since our first meeting with the Company. We look forward to working with the Company to acquire additional technical building services offerings to complement CPS by leveraging H.I.G.’s deep M&A expertise.”

About CPS

CPS is a dynamic and innovative M&E provider based in Cambridgeshire. The business is focused on delivering high quality installations and maintenance to customers centred around the values of innovation, teamwork and community. For more details see www.cpsbuildingservices.co.uk/.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with over $50 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contacts

John Harper

Managing Director

jharper@higcapital.com

H.I.G. Capital

10 Grosvenor Street

London W1K 4QB

United Kingdom

P +44 (0) 207 318 5700

F +44 (0) 207 318 5749

www.higcapital.com

Wreno’s end-to-end proptech solution aims to solve labor supply issues in home evaluation, renovation, and maintenance trades.

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–#PropTech—Wreno, a cutting-edge proptech platform that trains and connects workers and trade partners with institutional real estate companies, today announced that it has raised $5 million in seed funding led by Lerer Hippeau with participation from Fifth Wall, Owl Ventures, NFX, among others. The round’s angel participation also includes senior management from top single-family home institutions, as well as founders such as Vikas Choudhary from Porter and Alexey Dubov and Sam Ruben from Mighty Buildings. The company has raised a total of $6.1 million to date.

This investment will allow the company to continue to scale into new markets across the US, leverage new technologies, develop new service offerings for customers, and further enhance the platform’s existing machine learning capabilities.

Wreno was founded in 2021 by Charlotte Schell and Mark Barton, two former Zillow employees with extensive experience in business and real estate. Currently based in Arizona, the company works with some of the country’s largest institutional real estate companies across five states already, connecting them with skilled workers and trade partners to help maintain, repair, renovate, and evaluate tens of thousands of homes.

Currently, the US repair and maintenance workforce is declining at an unprecedented rate, despite the fact that by 2030 the top ten institutional homeowners alone are expected to spend $3.2 billion dollars a year on renovation, routine maintenance, and home evaluations. The shortage of the workforce has resulted in costly delays and unfulfilled projects, representing a significant pain point for institutional homeowners.

Wreno is addressing this underserved market by skilling new labor supply and leveraging machine learning along with end-to-end software solutions to provide faster and more accurate home evaluations and data collection at scale. The platform also optimizes fragmented local trade businesses to provide adjacent repair, maintenance, and renovation services.

“The average US home is 37 years old today. With an aging workforce, the labor supply in this industry shrunk by 38% since 2018. As a result, every 1 out of 3 jobs in home maintenance and management are getting delayed. It was clear to us that increasing utilization of existing workers and skilled trades is no longer enough,” says Wreno co-founder Charlotte Schell. “With a unique business model, we are opening previously inaccessible job opportunities to fresh labor supply, while also utilizing technology to allow more people to complete tasks that would normally be considered ‘skilled’ or ‘semi-skilled.’ We are the first technology company that tackles this societal issue from the root.”

“The rapidly-growing iBuyer, REIT, and proptech markets have been constrained by labor. Wreno’s end-to-end platform opens up labor supply for those companies while bringing efficiencies and improved customer experience to the market,” says Isabelle Phelps, Partner at Lerer Hippeau. “Wreno upskills gig workers and uses technology to provide faster and better estimations and services, pulling together the right mix of software and vendors to support repair and maintenance for businesses at scale.”

About Wreno

Wreno is an end-to-end home evaluation and maintenance service platform for iBuyers, REITs, and prop tech companies. Using the latest in ML and computer vision, Wreno upskills gig workers to provide faster and more accurate home estimations and data collection at scale, while also optimizing fragmented local trade businesses to provide much needed repair and maintenance services. Wreno’s full suite of technology also allows real estate companies to more efficiently recruit, onboard, train, and deploy their own internal home evaluation professionals and vendors at scale. www.wreno.io

About Lerer Hippeau

Lerer Hippeau is an early-stage venture capital fund based in New York City. The firm’s portfolio contains more than 350 leading consumer and enterprise companies, including Guideline, MIRROR, Blockdaemon, K Health, Allbirds, ZenBusiness, and Thrive, among others. The Lerer Hippeau team is made up of experienced operators who invest early and stay in founders’ corners forever. https://www.lererhippeau.com/

Contacts

Charlotte Schell

650.308.8083 | charlotte@wreno.io

RICHMOND, British Columbia–(BUSINESS WIRE)–Fine Choice Foods, a market-leading producer of quality Asian-inspired foods, announced the opening of its second manufacturing facility, also located in Richmond, with a recent in-person celebration. The event included remarks from Honourable Lana Popham, BC Minister of Agriculture and Food; Mayor Malcolm Brodie, Mayor of the City of Richmond, BC; and Jason Longden, CEO of Fine Choice Foods. The new facility will produce spring rolls equal to the length of more than 700 football fields on a weekly basis, creating more than 70 new jobs as part of the company’s continued growth.

“The local food system is a critical economic driver and we’re pleased to be able to support Fine Choice Food and the opportunities they are providing for the residents of British Columbia,” said Honourable Lana Popham, BC Minister of Agriculture and Food. “By using 3.5 million lbs of locally grown vegetables each year, along with a number of other regionally sourced products, the company’s support for this community and its farmers benefits everyone as they continue to expand their presence in both Canada and the United States.”

The new facility, an existing warehouse transformed into a 50,000-square-foot, state-of-the-art CFIA federally approved food processing facility, signifies a meaningful financial investment in Fine Choice Foods’ infrastructure, immediately creating significant value for local farmers and suppliers as well as valuable jobs for British Columbians during a challenging economic environment.

“The impact of this expansion is tremendous and we’re extremely proud to support the growth of Fine Choice Foods,” said Mayor Malcolm Brodie, Mayor of the City of Richmond. “The creation of more than 70 new jobs creates a significant economic impact in the region we believe will continue to grow, and we’re honored to be part of it.”

The event featured traditional Chinese lion dancing, a tour of the new facility, an official ribbon cutting, and samples of SUMM! products, including spring rolls, dumplings, and apple pie rolls.

“The opening of this new facility is an important milestone for Fine Choice Foods and critical to our continued success,” said Jason Longden, CEO of Fine Choice Foods. “We’re extremely proud of our growth over the past several decades and more importantly, proud to be able to honor the legacy of the Lui family and the SUMM! brand they created more than 30 years ago.”

About Fine Choice Foods

Located in Richmond, BC, Fine Choice Foods is a market-leading producer of quality Asian-inspired foods for the North American market. Founded by the Lui family in 1986, Fine Choice Foods specializes in spring rolls, gyoza dumplings, and the original apple pie roll under the SUMM! brand. Starting as a small store on Cambie Street in Vancouver employing three people, the company has grown to a staff of more than 350, serving consumers throughout Canada and parts of the United States from two state-of-the-art facilities. For more information, please visit www.SUMMFOODS.com.

Contacts

Jeremy Milner

BackBay Communications

(401) 862-9422

jeremy.milner@backbaycommunications.com

VANCOUVER, British Columbia–(BUSINESS WIRE)–Keltic Canada Development (Keltic) is proud to announce it will be breaking ground on its newest health-innovation project. Building off recent and successful landmark projects like The Paramount in Richmond, Keltic is proud to team-up with Masimo, a leading global medical innovator with a history of breakthroughs in healthcare technology. Together, they are excited to announce their plans for the new multi-level facility.

The project site, located at 220 Prior Street, is on the northwest corner of the future St. Paul’s Hospital site. Previously, the site was occupied by a warehouse built in 1945, which was owned by European Specialty’s Importer Ltd. between 1957 and 2017. Located on the shoreline of the eastern half of the false creek, this point of intersection has historical significance and is considered a buoy. This innovative project will be the first building in the Healthcare Precinct in the FLATS district. The property* is 100,000 square feet and will feature clinical research, product development, and retail spaces.

With a focus on developing solutions to the most challenging issues in healthcare, Masimo is the ideal fit for this project that will become a cornerstone of research and innovation in B.C. and Canada.

“We’re proud to see that our reputation as a leader in the life sciences sector has helped lead Masimo to expand their operations in B.C.,” said Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation. “Our StrongerBC Economic Plan is focused on preparing British Columbians for the careers of the future – including the 170 good-paying jobs Masimo is announcing here today.”

“Our team is thrilled to finally be breaking ground. We are excited to work with Masimo and to be a part of such a positive project for the medical industry in Vancouver,” remarked Rachel Li Lei, Managing Director, CEO Keltic Canada Development. “We are committed to strengthening and providing Canadians with facilities that promote a healthy standard of living within their communities.”

For more information on Keltic, visit www.kelticdevelopment.com.

About Keltic Canada Development

Keltic is a Canadian-owned, diversified real estate development company, headquartered in Vancouver B.C. Their numerous projects include residential, industrial, and mixed-use developments. Keltic is supported by its solid financial strength and world-class management team, with a clear focus on long-term strategic growth in Greater Vancouver, B.C.

*Renderings of the 9-storey building are available upon request.

Contacts

Media
Max Jakubke

PUBLiSH Partners

778-772-7336

max@publishpartners.co

Bold, calming blue-green hue represents consumers’ desire for stability in uncertain world

TORONTO–(BUSINESS WIRE)–As the outside world grapples with rising uncertainty, Canadians are yearning for increased serenity and stability inside their homes. This trend has spurred SICO™ paint brand by PPG to select Melt Water (6156-63) – a grounded, refreshing teal that combines the healing powers of water and nature with balance and tranquility – as its 2023 Colour of the Year.

Melt Water is a robust and refined bluish-greenish tone that intertwines bold blue and calming green to create a captivating colour symbolic of deep water. Its adaptable blue-jeweled hue sets a soothing, serene mood in spaces, while its emerald nuances evoke feelings of equilibrium. Paired together, these two undertones create an ultra-rich, uber-trendy colour that blends well with contemporary designs or adds a refined pop of colour to traditional decor.

“On the other side of the pandemic, people are looking for a mental reset and want to infuse their homes with invigorating colours that help give them a boost as well as refuge in today’s unpredictable world,” said Martin Fuchs, PPG senior marketing manager, Sico paint brand. “Melt Water accomplishes just that with its energizing yet grounding vibe. It’s symbolic of a newfound outlook and works exceptionally well in any space – both interior and exterior.”

To incorporate trending teal into the home, Sico paint brand offers these tips:

• Paint Melt Water on all four walls, paired with deeper-toned woods and off-white trim.
• For a more luxurious feel, Melt Water can go glam when accessorized with golden accents and bright white trim.
• Enjoy the understated elegance of a teal accent wall or serve up a statement by featuring Melt Water on kitchen cabinetry.
• Even the most modest spaces can benefit from the teal treatment. If short on square footage but big on style, use this rich hue as a bold contrast to a neutral palette, making a petite room feel plush.
• As an exterior, use a blue-green hue to punctuate a home’s personality, adding immediate curb appeal when featured on a front door.

Among the other popular 2023 colours unveiled by Sico paint brand are equally bold and soothing deep greenish-gray, forest green, muted terracotta and coppery brown hues. The brand’s Ancient Lava (6208-73), Boreal Forest (6167-83), Brown Tobacco (6189-52) and Faux Leather (6068-83) all pair beautifully with Melt Water.

All of Sico paint brand’s 2023 colours are one-coat paint colours available in recently introduced SICO PRESTIGE™ paint, which Fuchs described as one of the brand’s best paints ever. The breakthrough, ultra-resilient interior paint-plus-primer is designed to maximize colour and quality while minimizing the effort required to apply and maintain the paint. The palette is also available in one-coat protection Sico Super Premium Exterior paint.

To find Melt Water and the rest of the 2023 trends colours at a nearby store, visit sico.ca. Consumers can try out the new colours in advance on a photo of their own home by using Sico paint brand’s online Deco Colour Lab® and see the transformation in just a few clicks.

Since 1937, the Sico paint brand has provided Canadian do-it-yourself consumers with a complete line of high-quality interior and exterior paints. The brand is recognized as the market leader and can be found on the shelves of more than 1,300 retailers, including Rona, Lowe’s, Kent and other premium paint retailers.

PPG’s architectural coatings business in the U.S. and Canada is an industry leader in residential and commercial coatings, delivering the latest technologies and operational advancements through its strong portfolio of brands. It manufactures and sells interior and exterior paints, stains, caulks, repair products, adhesives and sealants for homeowners and professionals. Its distribution network includes more than 15,000 touchpoints through company-owned stores, independent dealer locations and major home improvement centers across the U.S. and Canada. For more information, visit www.ppgpaints.com.

PPG: WE PROTECT AND BEAUTIFY THE WORLD®

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for nearly 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $16.8 billion in 2021. We serve customers in construction, consumer products, industrial, and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Sico and Sico Prestige are trademarks of PPG Architectural Finishes, Inc.

CATEGORY Architectural Coatings Americas and Asia Pacific

Contacts

Kaitlyn Craig

PPG Architectural Coatings

1-412-377-7456

kcraig@ppg.com

Gail Bergman

GBPR

1-905-886-1340

gbergman@gailbergmanpr.com
www.sico.ca

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Westphalia Dev. Corp. (the “Corporation”) announced today its results for the second quarter ended June 30, 2022. The Corporation was formed in March 2012, for the development of a 310-acre Westphalia property located in Prince George’s County, Maryland, United States.

Development and Sales

The key development and sales activities of the Corporation in the second quarter ending June 30, 2022, were:

• The re-planning of the Westphalia Town Center to reduce the retail and office scope to obtain more residential units is underway led by the Corporation. Collaboration with elected officials is taking place along with a revision of the Conceptual Site Plan and Preliminary Plan of the subdivision that will also involve submitting a Detailed Site Plan for a retail and mixed-use portion of the development.

• Major infrastructure development is continuing including roads, storm water and sewer utilities leading into and through the Master Plan using tax increment financing (“TIF”) which is fully funded and scheduled to be complete by Q4 2022/Q1 2023.

• A planning effort has been initiated aimed at revising the Preliminary Plat and Conceptual Development Plan that will take place throughout the remainder of this year and into 2023, ahead of closing on pending sales transactions with the developer of the proposed last mile distribution buildings.

• The Corporation is continuing to engage in discussions with numerous prospective builders, retail brokers and developers regarding the purchase of fully engineered lots with the goal to adhere to the business plan modification. Final commitments will be deferred until the plan has been advanced through the regulatory process and is closer to approval.

• The Westphalia Town Center re-planning is in process to incorporate more residential units alongside retail space to accommodate growth in the area. A cohesive mixed-use plan for the retail core of the Master Plan is underway to complement the planned industrial space in the westernmost parcels. Engineering plans began in Q2 2022, ahead of application submittals to regulatory and County agencies that will begin in the Q3 2022.

Financial Results

• Operating expenses for this quarter remained consistent with Q1 2022.

• In January 2022, the Corporation secured a US$3.6 million operating expense loan from its lender, WWMN, LLC. After the end of the first quarter 2022, the senior loan, including the January 2022 operating expense advance, was re-negotiated with WWMN, LLC, for an aggregate loan amount of US$44.5 million with a maturity date of June 30, 2023, with the option to extend an additional year.

The Corporation’s financial statements and management’s discussion and analysis for the second quarter ended June 30, 2022, are available under the Corporation’s SEDAR profile at www.sedar.com.

Additional Information

The Corporation is managed by Walton Global Investments Ltd. (“Walton Global”) and the development of the project is managed by Walton Development & Management (USA), Inc., both of which are members of the Walton group of companies (“Walton”).

Walton Global is a privately-owned, leading land asset management and global real estate investment company that concentrates on the research, acquisition, administration, planning, and development of land. With more than 43 years of experience, Walton has a proven track record of administering land investment projects within the fastest growing metropolitan areas in North America. The company manages and administers US$3.6 billion in assets on behalf of its global investors located in 73 countries, builders and developers and industry partners. Walton has more than 91,000 acres of land under ownership, management and administration in the United States and Canada with business lines ranging from exit-focused pre-development land investments, land financing programs and build-to-rent. For more information visit walton.com.

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This news release, required by Canadian laws, does not constitute an offer of securities, and is not for distribution or dissemination outside Canada. This news release contains forward looking information, and actual future results may differ from what is disclosed in this news release. Forward-looking information is based on the current expectations, estimates and projections of the Corporation at the time the statements are made. They involve a number of known and unknown risks and uncertainties which would cause actual results or events to differ materially from those presently anticipated. The risks, uncertainties and other factors that could cause the Corporation’s actual results and performance in future periods to differ materially from the forward looking information contained in this news release include, among other things, the development of Westphalia Town Center, general economic and market factors, including interest rates, a decline in the real estate market, changes in government policies and regulations or in tax laws, changes in municipal planning strategies and whether certain development approvals are obtained and changes in the Canadian/U.S. dollar exchange rate, in addition to those factors discussed or referenced in documents filed with Canadian securities regulatory authorities and available online at www.sedar.com.

Except as otherwise noted, all amounts are in Canadian dollars, and are based on unaudited condensed interim consolidated financial statements for the three months ended June 30, 2022, and related notes, prepared in accordance with International Financial Reporting Standards.

Contacts

MEDIA CONTACT:
Allison + Partners

waltonglobal@allisonpr.com

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self storage company, announced that it was recognized as the top 1-year, 3-year, and 5-year annualized total return performer among Lifecycle REITs in the summer 2022 issue of THE IPA/STANGER MONITOR™. SmartStop’s Class A share achieved a 1-year total return of approximately 51.3%, a 3-year annualized total return of approximately 18.3%, and a 5-year annualized total return of approximately 14.1%.

“We’ve worked diligently over the past 18 years to build and grow a premier brand and storage portfolio that not only provides quality service to our customers but also provides strong value to our stockholders,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “Recognition by THE IPA/STANGER MONITOR validates our income and growth strategy, the remarkable achievements of our team, and the robustness of our platform. It is gratifying to, once again, be identified as a top performer in the Lifecycle REIT category.”

THE IPA/STANGER MONITOR is sponsored by the Institute for Portfolio Alternatives (“IPA”) and authored and published by Robert A. Stanger & Co., Inc. (“Stanger”). THE IPA/STANGER MONITOR performance analysis tracks the total return of non-listed REITs, including 22 lifecycle REITs and 17 Net Asset Value (“NAV”) REITs with a combined market capitalization of over $114.4 billion. The information included in this press release is from THE IPA/STANGER MONITOR, Volume IV No. 3, released in summer 2022. For more information, visit https://rastanger.com/.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 450 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of August 23, 2022, SmartStop has an owned or managed portfolio of 174 properties in 22 states and Ontario, Canada, comprising approximately 119,200 units and 13.5 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.6 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-542-3331

IR@smartstop.com

Registration opens for Augmenta pilot program for electrical contractors and engineers to evaluate its automated design solution for the construction industry

TORONTO–(BUSINESS WIRE)–Augmenta, the company automating building design for the construction industry, today announced the Electrical Design Module, the first Generative Design solution for its Augmenta Construction Platform (ACP). The module addresses the needs of electrical contractors and engineers, enabling them to accelerate the time it takes to estimate and create fully constructible, code-compliant electrical raceway designs by automating the entire process.

While today’s shop drawings typically only model the main runs of an electrical distribution system, the Augmenta Construction Platform can create fully detailed designs for entire projects in hours instead of weeks or months. Using Generative Design, the Electrical Design Module for the ACP delivers accurate, National Electrical Code® (NEC) compliant, fully detailed 3D raceway designs, complete with a bill of materials. This not only reduces design time by up to 70%, it also eliminates double entry, and provides the ability to evaluate multiple design options against cost, construction time, and maintainability. The generated designs are more efficient, requiring up to 20% less material and labor than traditional designs. The Electrical Design Module also cuts the time required to estimate projects by up to 50%. These benefits enable engineers and contractors to make better use of their teams, letting them focus on higher value activities.

“The Electrical Design Module for our Augmenta Construction Platform is the first of several solutions we are developing to automate building design,” said Francesco Iorio, CEO and co-founder of Augmenta. “We’re tackling the toughest design challenges in the construction industry, and plan to also provide solutions for plumbing, mechanical, and structural engineers and contractors. Our ultimate goal is to deliver an integrated solution that eliminates the time consuming and error prone processes of designing systems, and sharing and coordinating those designs across trades.”

Using Generative Design and AI to solve one of the biggest design problems in construction

Today, the building design process is constrained by tools that act as little more than a digital drafting board. These tools make creating designs for electrical systems complex and time-consuming, often requiring several rounds of review, interpretation, and refinement. Each iteration takes time and money, making it impractical to explore alternative design options.

Until now, computational design and design automation have been used in the construction industry primarily for conceptual exploration by architects. For the first time, Augmenta is bringing the power of these techniques to all aspects of the design process. Using a novel combination of mathematical optimization and artificial intelligence to ensure designs are constructible and compliant, the ACP also leverages machine learning to continuously speed up the design process. This transformative approach enables the automated design of constructible buildings at a high level of detail, based on the requirements identified for a building and the applicable building codes.

The Electrical Design Module was developed in collaboration with Interstates, an innovative electrical contractor based in the U.S. “In a very short period of time, we saw how dramatically Augmenta’s approach to automated design can reduce the cost of the design process,” said Josh Gillespie, BIM/VDC Director at Interstates. “It enables us to decrease the risk of inaccurately scoping time and cost estimates while drastically reducing the time it takes to complete estimates for bids. This gives us additional time to present fully considered design alternatives, thus positioning our company as a strategic partner to our clients, which include general contractors, engineering firms, developers, and owners.”

Pilot program for electrical contracting or engineering firms

Augmenta is launching a pilot program for a limited number of electrical contracting or engineering firms to trial and evaluate the Electrical Design Module. Those interested can sign up to receive details at www.augmenta.ai/electrical.

About Augmenta

Founded by pioneers of Generative Design at Autodesk, Augmenta is a software company that is driving a new level of efficiency for the construction industry by automating building design. The company’s flagship Augmenta Construction Platform (ACP) significantly accelerates the time it takes to detail and estimate designs, eliminates costly redesign and rework, and reduces overall risk. It also ensures buildings are designed to be energy efficient, use sustainable materials, are safer to build, and contribute less waste to landfill during construction. Once available commercially, this innovative new cloud-based platform – which uses artificial intelligence, including machine learning and mathematical optimization – will enable contractors and engineers to create error-free, constructible, code-compliant designs of buildings and systems in hours instead of weeks. For additional information, visit augmenta.ai.

Contacts

Lisa Ballard

Boulevard Public Relations (for Augmenta)

lisa@boulevardpr.com

PALATKA, Fla.–(BUSINESS WIRE)–Saint-Gobain, through its building products subsidiary CertainTeed LLC, will install recycling technology at its gypsum plant in Palatka, Florida, increasing the recycled content in its wallboard products manufactured in Palatka by 18,000 tons/year while also reducing the site’s carbon dioxide emissions by 2,260 tons/year.

The project represents a $1.1 Million investment from CertainTeed and comes as Saint-Gobain continues to roll out its new global Grow and Impact strategy, which includes reducing waste and increasing recycling efforts at its manufacturing sites.

Gypsum wallboard is made from a gypsum slurry that is poured and dries between two sheets of paper. Some scrap materials, consisting of gypsum and paper, are normally created every time a production line is started up or shut down, or when production equipment is changed to manufacture different sizes of wallboard.

The new recycling technology in Palatka will work by grinding the waste gypsum and waste paper down into fine particles, allowing the plant to capture and internally recycle the materials, which are sorted and then reintroduced to the production process at the plant.

Today, each wallboard produced at CertainTeed’s Palatka facility includes recycled content. The upgraded technology, which the company plans to take online later this year, will increase the amount of recycled material in wallboard manufactured in Palatka.

The new equipment is powered by electricity and replaces older equipment currently powered by diesel, lowering the plant’s Scope 1 Emissions from its operations. Additionally, by consuming more recycled gypsum, the plant is less reliant on feedstock that is shipped to Palatka from external sources, allowing the site to also reduce Scope 3 Emissions associated with transporting the feedstock.

The investment in Palatka follows similar investments that will increase the recycled content of wallboard made at CertainTeed’s gypsum plants in Silver Grove, Kentucky and Nashville, Arkansas.

“In Palatka and at all of our manufacturing sites in North America, our team will continue to aggressively pursue opportunities to maximize our company’s positive impact, for our customers and the communities where we operate, while minimizing our environmental footprint,” said Jay Bachmann, Vice President and General Manager of CertainTeed Interior Products Group. “The new technology in Palatka will allow us to increase the recycled content in our products, reduce our carbon dioxide emissions at the plant, and strengthen our operations at a time of unprecedented consumer demand for gypsum wallboard in the southeastern United States.”

CertainTeed’s Palatka plant began operations in 2001 and sits on more than 100 acres of land in Putnam County. Today the plant is home to 150 employees and is one of the largest employers in Palatka, and also one of the largest gypsum plants in the southeastern United States. The plant is currently hiring for several roles in engineering and production. A complete listing of job openings at all Saint-Gobain locations, including the CertainTeed site in Palatka, can be found on the company’s website.

The investment in recycling technology in Palatka follows several other recent actions taken by the company to solidify its commitment towards sustainability:

• In July, Saint-Gobain announced the upgrade of key equipment at its Buchanan, New York gypsum plant, saving nearly 700,000 kWh of electricity per year and also reducing the plant’s greenhouse gas emissions.
• In June, Saint-Gobain announced a $91 Million CAD investment in its gypsum plant in Montreal, creating the first zero-carbon manufacturing site for wallboard in North America and increasing the plant’s production capacity by 40%.
• In May, Saint-Gobain announced its newly installed recycling technology at its gypsum wallboard plant in Nashville, Arkansas would save 65,000 tons of material per year from landfill.
• In April, Saint-Gobain entered into a recycling partnership at its SageGlass electrochromic glass production site in Fairbault, Minnesota, saving 1,000 tons of material per year from landfill over the next five years.
• In March, Saint-Gobain North America announced it would install heat recovery technology at its CertainTeed gypsum manufacturing site in Vancouver, British Columbia, which will reduce the plant’s carbon dioxide emissions by 10% and improve its energy efficiency.
• Also in March, Saint-Gobain announced that through its virtual Power Purchase Agreement with the Blooming Grove Wind Farm in McLean County, Illinois, and additional renewables contracting, the company received renewable energy certificates that effectively reduced approximately 33% of its CO2 emissions from electricity usage in 2021 in the United States and Canada.
• In February, the company invested $32 Million to upgrade equipment at its insulation plant in Chowchilla, California, reducing the facility’s carbon footprint by more than 4,000 metric tons per year.
• In January, Saint-Gobain North America donated a zero energy ready house in Canton, Ohio, made with more than 20 of its own products, to Habitat for Humanity.

About CertainTeed

Through the responsible development of innovative and sustainable building products, CertainTeed, headquartered in Malvern, Pennsylvania, has helped shape the building products industry for more than 115 years. Founded in 1904 as General Roofing Manufacturing Company, the firm’s slogan “Quality Made Certain, Satisfaction Guaranteed,” inspired the name CertainTeed. Today, CertainTeed is a leading North American brand of exterior and interior building products, including roofing, siding, solar, fence, railing, trim, insulation, drywall and ceilings. www.certainteed.com.

About Saint-Gobain

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “MAKING THE WORLD A BETTER HOME”.

€44.2 billion in sales in 2021

167,000 employees, located in 76 countries

Committed to achieving Carbon Neutrality by 2050

For more details on Saint-Gobain, visit http://www.saint-gobain.com and follow us on Twitter @saintgobain.

Contacts

Media

David Rosen

Saint-Gobain

Corporate Communications

Media@saint-gobain.com