AUSTIN, Texas–(BUSINESS WIRE)–#Canada–CLEAResult, the largest provider of energy efficiency services in Canada for residential and commercial and industrial (C&I) customers, is gearing up to quickly support the new and expanded energy savings programs announced by Ontario’s Ministry of Energy, Todd Smith, on Tuesday. The ministerial directive increased funding for the Independent Electricity System Operator’s (IESO) energy efficiency programs by $342 million, bringing the total budget to over $1 billion, and introduced two new initiatives aimed at lowering costs for consumers and improving grid reliability.

Energy efficiency remains the cleanest and most cost-effective solution for Canada’s rising electricity demand, and the additional funding is further validation of the past success and tremendous potential of energy efficiency in Ontario. The expansion is expected to begin in Spring 2023 with a new residential demand response program that pays people to save energy, targeted support for greenhouse growers in southwest Ontario, plus enhancements to Save On Energy’s existing Business Retrofit and Local Initiatives Programs.

CLEAResult works with households and businesses across Ontario every day to reduce their energy costs in support of the IESO’s current programs. “We’re thrilled to see Minister Smith continue to invest in securing reliable, affordable electricity for Ontarians through comprehensive energy efficiency initiatives,” said Ryan Shaw, CLEAResult’s Senior Vice President of Client Delivery in Canada. “Long-term grid reliability is the goal, and we’re honored to be a part of the solution. Our role is to make sure people see the benefits—from saving money to keeping their businesses competitive—the positive impacts of this decision will be felt by everyone.”

The company’s recent partnerships, acquisitions and experience in Canada give the team great confidence in their ability to turn the announcement into action. “Spring is coming fast, but we’ll be more than ready,” Shaw added.

Over the summer, CLEAResult acquired Ecofitt to expand their residential capabilities in Canada. The company also acquired ChooseEV earlier this year, an industry-leading provider of educational tools and resources for businesses and individuals looking to adopt electric vehicles as part of their sustainability efforts.

More recently, CLEAResult announced a partnership with distributed energy resource leader, Virtual Peaker, to provide customer-friendly demand response solutions designed with scale in mind. The company has also been an active partner in implementing many C&I efficiency programs throughout Canada, including support for various demand response initiatives over the past year.

“Our team is looking for every opportunity to invest in, develop and train a skilled workforce to support Ontario’s energy efficiency needs,” Shaw emphasized. “It’s the fastest way to reliably meet demand and get savings into people’s hands.”

In total, these new initiatives are estimated to save consumers over $650 million in energy costs by 2025 and reduce greenhouse gas emissions by three million tonnes over the lifetime of the improvements. CLEAResult’s commitment to reaching net zero by 2025 is well-aligned with Ontario’s sustainability and climate goals. The company also offers carbon consulting services for other organizations looking to accelerate their energy efficiency and decarbonization efforts.

Visit clearesult.ca to see all the ways people, business, municipalities and more can save energy in Canada.

About CLEAResult

CLEAResult is the largest provider of energy efficiency, energy transition and decarbonization solutions in North America. Since 2003, our mission has been to change the way people use energy. Today, our experts lead the transition to a sustainable, equitable, and carbon-neutral future for our communities and our planet. Our hometown teams collaborate with a diverse network of local partners to deliver world-class technology and personalized services that make it easy for commercial and industrial businesses, governments, utilities and residential customers to reduce their energy use and carbon footprint. CLEAResult is headquartered in Austin, Texas, and has over 2,400 employees in more than 60 cities across the U.S. and Canada. CLEAResult is majority owned by TPG through its middle market and growth equity investment platform TPG Growth and its multi-sector global impact investing strategy The Rise Fund.

Explore all our energy solutions at clearesult.ca.

Follow us on: Facebook | LinkedIn | Twitter | Instagram

Contacts

media@clearesult.com
Amber Tester
Director Corporate Communications

OAKVILLE, Ontario & COLUMBUS, Ind.–(BUSINESS WIRE)–#cummins–Atura Power has selected Cummins Inc. (NYSE: CMI) to design and manufacture the electrolyzer system for its Niagara Hydrogen Centre in Niagara Falls, Ont. This will be Ontario’s first 20-megawatt (MW) green hydrogen facility.

Cummins’ proton exchange membrane (PEM) electrolysis system will be manufactured at its Mississauga, Ont. facility and become the centrepiece of Atura Power’s Niagara Hydrogen Centre. Powered by renewable hydroelectricity, the electrolyzer system will split water into oxygen and “green” hydrogen. This carbon-free green hydrogen will then be provided to industrial customers for immediate consumption and will be transported and blended into the fuel stream at Atura Power’s Halton Hills Generating Station, creating cleaner electricity for Ontario.

Detailed design work and system integration is underway, with plans to bring the Niagara Hydrogen Centre online in early 2024.

Atura Power conducted a competitive procurement process in early 2022 and Cummins provided a strong technical solution for the Niagara Hydrogen Centre. Cummins acquired Mississauga-based Hydrogenics in 2019 and has continued to expand its hydrogen and other zero-emissions technologies portfolio, which includes PEM and alkaline electrolyzer solutions.

Atura Power is implementing a low-cost, low-carbon hydrogen program that will help reduce greenhouse gases, while supporting economy-wide decarbonization. An enabler of clean energy, the company is positioned to help build the hydrogen economy in Ontario. Low-carbon hydrogen will be an important tool in the fight against climate change. Atura Power, a subsidiary of Ontario Power Generation (OPG), supports the net-zero goals outlined in OPG’s Climate Change Plan.

Green and low-carbon hydrogen will reduce or offset emissions in a variety of applications, including:

• as a low-carbon fuel substitute for feedstock in high-emitting industrial processes
• blending hydrogen with natural gas to reduce its carbon impact, and
• powering fuel cells in vehicles which could help decarbonize the heavy-duty and long-haul trucking industry.

Both the federal and provincial governments noted the potential for hydrogen to play a key role in helping meet climate change objectives. Read the federal and provincial strategies for details.

Quotes

“The Niagara Hydrogen Centre is our flagship facility that will set the pace for our green and low-carbon hydrogen projects,” says Shelley Babin, President and CEO of Atura Power. “The heart of the facility is the electrolyzer, and we are excited to be working with an experienced and accomplished industry leader in Cummins.”

“We are thrilled to partner with Atura Power to provide green power in Ontario,” said Alexey Ustinov, Vice President of Electrolyzers at Cummins. “This project is a great demonstration of the potential of PEM electrolyzer technology to decarbonize our power sources and lay the groundwork for a sustainable future. Once completed, this project will be the second 20 MW electrolyzer installation for Cummins in Canada and an important milestone in scaling the green hydrogen economy in North America.”

“This project aims to build one of Canada’s largest green-energy hubs and it’s an important part of our work to transform the future of energy, reduce emissions and protect the environment. I’m proud to see Ontario continuing to build on its international prominence as a clean energy jurisdiction to become a leader in the hydrogen economy that will drive job creation and economic growth across our province,” said Energy Minister Todd Smith.

“I’m proud of our local employer Cummins’ leadership and innovation and their exceptional team for bringing new and exciting opportunities to our region,” said Mississauga-Malton MPP Deepak Anand. “Our government under the leadership of Premier Doug Ford is committed to supporting partnerships like this one with Atura Power to ensure that our region continues to prosper and create good jobs for local families.”

About Atura Power

Atura Power, a subsidiary of Ontario Power Generation, plays a key role in the province’s electricity system. With plants in Windsor, Halton Hills, Toronto, and Napanee, its fleet of combined-cycle facilities is flexible and dispatchable – an enabler of renewable energy sources like solar and wind power. Atura Power is committed to reducing its greenhouse gas emissions and being a leader in facilitating economy-wide adoption of hydrogen across Ontario.

For more information, visit aturapower.com and connect with us on LinkedIn at /atura-power.

About Cummins

Cummins Inc., a global power technology leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from internal combustion, electric and hybrid integrated power solutions and components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, microgrid controls, batteries, electrolyzers and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 59,900 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.1 billion on sales of $24 billion in 2021.

Contacts

Cummins Inc.
Jon Mills – Director External Communications

001 317-658-4540

jon.mills@cummins.com

Atura Power Media Relations

media@aturapower.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 today it received the top ranking among self storage centers in Newsweek’s America’s Best Customer Service 2023. This is the second time SmartStop has earned the top spot. In addition, SmartStop’s 2023 ranking is the highest rating of any self storage provider in the five years that Newsweek has been conducting the survey.

Newsweek partnered with global data research firm Statista on the independent survey of more than 30,000 U.S. customers who have either made purchases, used services, or gathered information about products or services in the past three years. The final assessment and rankings were based on the likelihood of recommendation (50% of the final score) and five evaluation criteria (also 50% of the final score): quality of communication, professional competence, range of services, customer focus, and accessibility.

“We are extremely proud to be once again ranked number one in customer service by Newsweek,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “This is a testament to all of our team members who go out of their way to make the storage experience as easy and stress-free as possible for our customers.”

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 October 6, 2022, SmartStop has an owned or managed portfolio of 176 properties in 22 states and Ontario, Canada, comprising approximately 120,600 units and 13.7 million rentable square feet. SmartStop and its affiliates own or manage 20 operating self storage properties in the Greater Toronto Area, which total approximately 17,050 units and 1.7 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

TORONTO & NEW YORK–(BUSINESS WIRE)–#Identityverification—VeriFast, the AI-powered Verification-as-a-Service platform that automates financial analysis and decision making for tenant screening, mortgage underwriting and business lending , today announced the appointment of New York-based FinTech veteran Rob Strickland, CRO and Canadian banking veteran Chris Pornaras, Chief Commercial Officer to its leadership team.

VeriFast Co-Founder and COO Chad Guziewicz said, “VeriFast’s solution adoption within the U.S. and Canadian mortgage markets has greatly increased over the past year. We have seen an explosive demand for our holistic verification platform. Adding industry experts with enterprise go-to-market skills takes us to the next level for continued growth.”

Strickland joins VeriFast from Brimma, a mortgage tech provider specializing in delivering modern technology integration and innovation. Prior to that, he held executive positions at Capco, Blue Sage Solutions and IBM. Pornaras has 30+ years experience working in the Canadian Financial Services and has led Canada’s largest mortgage origination utilities as well as having worked with several start-up companies to develop long term success strategies.

“Rob’s track record in growing businesses and delivering market strategies, and Chris’ demonstrated history in financial services will be instrumental as we move forward,” Guziewicz added. “Both quickly accelerated VeriFast’s adoption with mortgage lenders to digitize and streamline their pre-approval and underwriting processes, shaving labor costs and compressing approval cycles by up to 90%.”

VeriFast empowers companies to seamlessly integrate banking data, payroll insights, tax transcript data and biometric identity verification, to existing process flows using a single-source configurable API. It securely automates the end-to-end verification process from hours/days to minutes, at a fraction of the cost.

Strickland said, “I joined VeriFast because the company has the only complete platform solution leveraging multiple verification data sources plus bank statement ingestion, with a superior data categorization enrichment strategy.”

About VeriFast

VeriFast provides a single-source configurable API platform that allows companies to immediately validate customers’ ability to pay while eliminating fraud. Delivering deep analytics in minutes, VeriFast provides powerful consumer – borrower insights far beyond conventional credit checks. Based in Toronto and privately-held, the company has customers throughout North America.

For more information on VeriFast, please visit the company website at www.verifast.com.

Follow VeriFast on LinkedIn and Twitter. Visit VeriFast at the MBA Conference in Nashville, October 23 – 26; booth 831.

Contacts

Angelo D. Jones II

angelo@williammills.com
679.781.7230

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self storage company, announced today that Founder, Chairman and CEO, H. Michael Schwartz will deliver the keynote address at the Canadian Self Storage Association’s (CSSA) 17th Annual Eastern Canadian Conference on October 13, 2022.

The conference will take place October 13 and 14 at Beanfield Centre at Exhibition Place in Toronto, Ontario and will include educational sessions, a trade show and self storage facility tours. The event is designed for Canadian self storage owners and operators who seek to enhance their knowledge of the industry, meet with valued partners, and learn about the current and future challenges facing the industry.

Schwartz will share his perspective and insights based on over 30 years of industry experience including 17 years in self storage. The keynote address, titled “Three Walls and a Door and a Whole Lot More,” will take place on Thursday, October 13.

“I am honored to serve as the keynote speaker and share my experience at the CSSA’s conference,” said Schwartz. “For more than 15 years, this conference has offered Canadian self storage professionals a key opportunity to ‘sharpen the saw’ as well as network with industry peers. I look forward to sharing more insights and discussing best practices at the conference next month.”

The CSSA’s 17th Annual Eastern Canadian Conference provides attendees industry education, networking opportunities, and a chance to connect with suppliers face-to-face. To learn more about the CSSA’s 17th Annual Eastern Canadian Conference, visit https://www.cssa.ca/events/17th-annual-cssa-eastern-canadian-conference-trade-show-and-facility-tours/.

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 October 5, 2022, SmartStop has an owned or managed portfolio of 176 properties in 22 states and Ontario, Canada, comprising approximately 120,600 units and 13.7 million rentable square feet. SmartStop and its affiliates own or manage 20 operating self storage properties in the Greater Toronto Area, which total approximately 17,050 units and 1.7 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

TORONTO–(BUSINESS WIRE)–Slate Office REIT (TSX: SOT.UN) (the “REIT”), an owner and operator of high-quality workplace real estate, announced today that it has sold the property at 95-105 Moatfield Drive in Toronto, Ontario for a sale price of $97.0 million (the “Disposition”), which represents a 6.4% in-place capitalization rate or $239 per square foot.

Disposition Highlights

• Advances the REIT’s growth strategy – The Disposition is consistent with the REIT’s strategy to position its portfolio in line with high-quality, modern assets with strong credit tenants, long lease terms, and cash flow yield
• Validates the REIT’s real estate value – The Disposition is occurring at a 12.0% or $10.4 million premium to the REIT’s purchase price; the sale price represents a 5.0% increase to the REIT’s June 30, 2022 IFRS value, further validating the net asset value of the REIT
• Increases the REIT’s available equity capital for redeployment – Proceeds from the sale will enable the REIT to immediately reduce its indebtedness and deploy capital towards accretive opportunities

“The strategic disposition of the property at 95-105 Moatfield Drive is a testament to our team’s ability to unlock value for the REIT’s unitholders in all market conditions,” said Steve Hodgson, Chief Executive Officer of Slate Office REIT. “The sale price at a significant premium to purchase price further validates the REIT’s net asset value and the upside potential of the REIT’s stock and unlocks equity capital for the REIT to redeploy into more modern, high-quality assets with stable cash flow.”

About Slate Office REIT (TSX: SOT.UN)

Slate Office REIT is a global owner and operator of high-quality workplace real estate. The REIT owns interests in and operates a portfolio of strategic and well-located real estate assets in North America and Europe. The majority of the REIT’s portfolio is comprised of government and high-quality credit tenants. The REIT acquires quality assets at a discount to replacement cost and creates value for unitholders by applying hands-on asset management strategies to grow rental revenue, extend lease term and increase occupancy. Visit slateofficereit.com to learn more.

About Slate Asset Management

Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus, and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

Forward-Looking Statements

Certain information herein constitutes “forward-looking information” as defined under Canadian securities laws which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words “plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes”, or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue” and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.

Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.

SOT-AD

Contacts

Investor Relations

+1 416 644 4264

ir@slateam.com

Media Contact

pressinquiries@slateam.com

~Lynn Wentworth brings over 30 years of expertise in financial, technology and logistics leadership to the Lineage Board of Directors~

~Natalie Matsler returns to Lineage with significant experience in real estate development and logistics to support the company’s global growth ambition~

NOVI, Mich.–(BUSINESS WIRE)–#oneLineage–Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced the appointment of Lynn Wentworth, a seasoned public board member, to its Board of Directors. Additionally, Lineage also announced the appointment of Natalie Matsler as Chief Legal Officer and Corporate Secretary. In this role, she will oversee Lineage’s global Legal, Safety & Compliance, Food Optimization and Corporate Compliance functions.

Wentworth joins Lineage’s Board of Directors at a pivotal time in the Company’s growth. She brings deep expertise in finance, technology and logistics to Lineage’s board and currently serves on the boards of Graphic Packaging (NYSE: GPK), where she chairs the Compensation & Human Capital Committee, and Benchmark Electronics (NYSE: BHE), where she chairs the Audit Committee. She is the former Chairman of CyrusOne and Cincinnati Bell and chaired the Audit & Finance Committees at both companies before her role as board chair. Before her board service, Wentworth was the Chief Financial Officer and Treasurer of BlueLinx Holdings Inc. (NYSE: BXC), a leading distributor of building products in North America. Prior to joining BlueLinx, she held numerous leadership positions with BellSouth Corporation across tax, strategic planning, investor relations, financial planning, sales and operations and was ultimately appointed CFO – Communications Group.

“As Lineage continues to grow and execute our mission of transforming the food supply chain to eliminate waste and help feed the world, we are thrilled to welcome Lynn to the board,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder of Bay Grove. “Given her many years of experience working in areas of finance, technology and logistics, combined with her exceptional board service at a number of industry-leading corporations, we look forward to having Lynn provide a unique and valuable perspective to our board governance and our overall strategy as we continue to fuel Lineage’s global growth.”

“At such a pivotal time in the company’s history, I’m excited to join Lineage’s board of directors and to work with the leadership team as we continue to innovate and grow the global cold chain,” said Wentworth.

As the newest member of Lineage’s Executive Leadership Team, Matsler reports directly to President and CEO Greg Lehmkuhl. Most recently, she served as General Counsel of McCourt Partners, a private investment platform based in Los Angeles, Calif., where she was a member of the executive team and successfully led several projects in real estate development featuring green technology and resilient design. This is her second time working for Lineage, as she originally joined Lineage in 2014 and served in multiple legal leadership roles at the Company, including Senior Vice President and Deputy General Counsel, through April 2021. Before joining Lineage, Matsler held legal roles of increasing responsibility at Latham & Watkins LLP, Downey Savings and Loan Association, F.A. and U.S. Bank National Association. She earned a bachelor’s degree from the University of California at Los Angeles and her J.D. from the University of California at Los Angeles School of Law.

“We are thrilled to welcome Natalie back to the Lineage family,” said Greg Lehmkuhl, President and CEO of Lineage. “With a proven track record of leading, managing and advising significant projects across our global network, Natalie brings extensive experience to Lineage and will play a key role in advancing the company’s strategic initiatives. I am confident she will build upon our already-strong legal, safety and compliance teams and further contribute to Lineage’s global growth.”

“I am honored and grateful for the opportunity to return to Lineage and lead these incredibly talented teams in such a fast-growing, dynamic organization,” said Matsler. “I look forward to supporting Lineage as the company continues its global growth, all while serving Lineage’s purpose of transforming the food supply chain.”

About Lineage Logistics

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity, which spans 20 countries across North America, Europe, and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network and the development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was a 2022 U.S. Best Managed Company, No. 3 in the 2022 CNBC Disruptor 50 list, No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

About Bay Grove

Bay Grove is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Since 2008, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, customers and employees. The firm has deep experience in the warehousing and logistics industry and also seeks to make investments in other attractive sectors. Bay Grove is based in San Francisco. (www.bay-grove.com)

Contacts

Lineage Logistics
Christina Wiese

734.608.1855

cwiese@lineagelogistics.com

P.volve’s Inaugural Canadian Studio Scheduled to Open in Victoria, British Columbia in Spring 2023

NEW YORK–(BUSINESS WIRE)–P.volve, the leader in evidence-based functional fitness for women, announced today that it will open its first Canadian studio in Victoria, British Columbia’s Hudson District. Construction of the studio is expected to take approximately four months, with the location slated to open in the spring of 2023.

“We are thrilled that Victoria’s vibrant Hudson District will be home to P.volve’s first Canadian studio,” said Julie Cartwright, president of P.volve. “It’s an ideal location that will give residents of Vancouver Island easy access to our fitness offering as well as to shops and other amenities. The studio’s close proximity to destinations such as the Fairmont Empress Hotel also will enable traveling P.volve members to work out while visiting Victoria.”

The planned opening of the Victoria studio is part of P.volve’s overall expansion of its Canadian franchised studio footprint. Plans call for launching 100-plus studios, with a franchise just awarded to the father-daughter team of Clint and Katie Oakley who plan to open a studio in Calgary, Alberta in 2023. Toronto, Vancouver and Edmonton are among the cities expected to see future studios.

P.volve, which enables members to work out in-studio, virtually or through a combination of both, has seen growing demand for in-person classes. In response, P.volve has launched a major studio franchising initiative in the U.S. and Canada. The company says that Canadian members have contributed significantly to its record 145 percent year over year growth from July 2021-June 2022.

Franchise operator and Victoria resident Lucille Cuell, 59, had long intended to open a fitness studio, and learned about P.volve at the wedding of Kirstin Keohane, a longtime friend who was planning to move to San Diego to open a P.volve franchised studio with her new husband, John. After trying on-demand virtual P.volve workouts, Cuell – an aerobics instructor as a twenty-something – immediately grasped its appeal. After learning more about P.volve and its dynamic but low-impact brand of fitness, she joined with her husband, Tom, to bring the experience of in-person studio workouts to Victoria.

Lucille will manage the studio and Tom will focus on marketing and promotion. Their daughter, Emily, is working with the general contractor that will bring the studio to life. Emily also hopes to go through the process to become a P.volve Trainer along with their other daughter, Samantha, a kinesiologist. “Our P.volve studio will very much be a family affair,” said Lucille. “We all love P.volve, and it’s a great experience working together to make this studio a reality.”

Added Lucille, “Many workout programs live by the mantra ‘no pain, no gain.’ It’s one thing to push your limits, but too many workouts are unnatural, causing not just pain but injury. P.volve’s method is different, building fitness by focusing on the way your body moves in life. P.volve’s studios are an important channel for delivering this message, and I’m proud that we’re going to be the first to make it available in Canada.”

The woman-operated and woman-focused P.volve, whose name is derived from “personal evolution,” launched an on-demand offering in 2017 and its first studio in New York in 2019. Currently, P.volve complements a growing portfolio of on-demand classes with live, in-person instruction in company-operated studios in New York, Chicago and Los Angeles. Franchised locations in the U.S. and Canada are scheduled to open beginning later this year and in 2023.

P.volve already has a significant number of loyal members in British Columbia who now will be able to add studio classes to their existing digital memberships. The new location will be able to leverage the benefits of both in-studio and on-demand exercise. Currently, nine in 10 members in cities with studios are choosing hybrid memberships that give them the ability to attend classes in-studio, or on-demand via P.volve’s digital platform.

Beyond the Canadian market, P.volve aims to award 250 studios in the U.S. by 2025, according to company officials.

About P.volve

P.volve is the leader in evidence-based functional fitness and a nationwide employee wellness benefits provider. Headquartered in New York, the company delivers innovative content and experiences to its members in all 50 states and globally. Its science-backed, holistic fitness method for women harnesses the power of functional movement and proprietary equipment to nourish and restore while it shapes, tones and strengthens. Through its hybrid fitness model, P.volve can be experienced in-studio, through live and on-demand virtual classes and via a growing franchised studio footprint. For more information, please visit www.pvolve.com, www.pvolvefranchise.com and @pvolve on Instagram.

Contacts

Erin Daigle

The Hubbell Group, Inc.

edaigle@hubbellgroup.com
781-815-2827

Arizona Team Brings Residential and Commercial Expertise to the Growing Organization

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 Cook & Associates Real Estate Advisors, based in the Greater Phoenix Metropolitan area of Arizona, is joining its growing network of agents.

Cook & Associates Real Estate Advisors was founded in 2005 by Kelly Cook. Within the past 12 months, the 31-person team closed approximately $220 million in volume, the majority of which came from residential real estate sales in the Greater Phoenix area. The team’s commercial division, Cook Commercial Partners led by Managing Director Valerie Cook, specializes in the disposition of commercial real estate with a focus on medical office sales throughout the United States.

According to Cook, Real offered an opportunity that simply couldn’t be ignored. “As an investor myself, I want everyone in our organization to have the ability to set themselves up for success and to provide income for their families by making their money work for them. The Real Brokerage provides that opportunity.”

Cook went on to say that his organization is strongly focused on a company culture that emphasizes how greater success can be achieved as a team rather than as individuals. Chairman and Chief Executive Officer Tamir Poleg could not agree more.

“At Real, we focus on building a collaborative, team-focused environment that tears down silos,” Poleg said. “We operate under a single, shared mission, and we’re excited to partner with Cook & Associates Real Estate Advisors to further expand our growing footprint of agents in Arizona.”

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.

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.

Contacts

Investors, for more information:

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908.280.2515

Media, for more information:

Elisabeth Warrick

Director, Communications

elisabeth@therealbrokerage.com
201.564.4221