Inc. 5000-ranked independent brokerage brings 150 agents and $2 billion in career home sales; Real now exceeds 23,000 agents

TORONTO & NEW YORK–(BUSINESS WIRE)–$REAX #therealbrokerage–The Real Brokerage Inc. (NASDAQ: REAX), a technology platform reshaping real estate for agents, home buyers and sellers, today announced that ROVI Homes, led by industry veteran Steve Rovithis, has joined Real. The addition brings 150 agents, strengthening Real’s presence in New England and along Florida’s Southwest Coast. Real’s agent base now exceeds 23,000.

After seven years as a brokerage franchise owner, Rovithis founded ROVI Homes in 2015 to provide agents and their clients with an alternative to traditional franchise models. Under his leadership, the independent brokerage has grown from just three agents to 150, closing more than $2 billion in home sales. The brokerage earned a place on the Inc. 5000 list of fastest-growing privately owned businesses in 2020 and 2021.

“Since our founding, we’ve been focused on creating a culture that supports our agents and provides the technology and training they need to succeed. This will become even more important as the industry evolves, and we believe that Real is doing it all better than anyone,” Rovithis said. “Real’s culture, technology platform, comprehensive training program and commitment to ensuring that agents have long-term wealth building opportunities completely aligns with who we are and what we’ve built.”

Beyond its agent-first philosophy, ROVI Homes has earned a reputation as a pioneer in adopting innovative solutions that later become best practices across the New England real market. These include high-end property marketing and specialty agent services such as listing and the transaction coordinator roles. Underscoring its commitment to the western Massachusetts, Connecticut, Rhode Island and Sarasota, Fla., markets it serves, ROVI Homes has made a charitable donation to a local organization for each of the more than 7,500 transactions it has closed over the past decade.

“ROVI Homes represents everything we value at Real—an innovative approach, an outstanding track record and a collaborative culture. Steve and his team are exactly the kind of professionals we want on our team as we continue to grow,” said Real President Sharran Srivatsaa. “With ROVI Homes now part of Real’s innovative ecosystem, we’re set to elevate the industry standard and create unmatched opportunities for agents and clients alike.”

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 23,000 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 Real’s ability to continue to attract agents.

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, 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)–Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that it submitted to the Greenland Minerals Licenses and Safety Authority an updated version of the Environmental Impact Assessment (the “EIA”) for the Malmbjerg Molybdenum Project in east Greenland (the “Project”) authored by WSP Danmark A/S.

The updated EIA incorporates the new legal provisions set under the Mining Act that came into effect in January 1, 2024 as well as numerous current studies and empirical results highlighted below. Although the EIA is not part of the requirements to obtain an exploitation license under the new Mining Act (where the Company expects positive news soon), it remains an important regulatory and industry requirement to advance towards production.

Executive Chairman Dr. Ruben Shiffman noted, “We have invested a great deal of care in the environmental aspects of our mine design. While most of the existing mines are old and have large environmental bonds posted with regulators due to more stringent current environmental rules than in the past; offer lower quality product and are far away from the EU (the 2nd largest Mo and Mg user where EU has no extraction), our Project offers high quality product, a new mine design, no environmental liabilities, and high sustainability with lower CO₂ vs existing mines in a like-minded EU associate country”.

Highlights of the updated version include:

• On environmental impacts of the Project, using an assessment risk scale of very low, low, medium and high, sixteen out of nineteen environmental impacts analyzed are assessed to be low or very low and four medium. On environmental risks due to accidents and natural disasters, all three risks analyzed which include risk of tailings disposal from the Tailings Management Facility (TMF), contamination of land and fresh water and contamination of the sea due to shipping accidents are assessed to be of low environmental risk.
• Results from an updated independent TMF feasibility study (2024) that among others, determine the dam classification risk factor under the Canadian Dam Association (CDA) guidelines. CDA guidelines rank in severity from Low, Significant, High, Very High to Extreme potential losses, including catastrophic scenarios, under four areas (population, life, environmental and cultural, infrastructure and economics). The proposed contained TMF was assigned a Low Dam Classification risk in all four areas under CDA.
• Conclusions of a six-month study on saturated columns testing and water quality predictions studies for the TMF supernatant concentrations (from the concentrator to before the discharge into the TMF, while in the TMF and in any potential dilution zone) over the life of mine to be below water quality guidelines.
• A prefeasibility study on renewable energy generation to power a significant part of the energy required in the Project using wind and solar energy. This adds to the significant decarbonization achieved with the proposed aerial conveyor that transports downhill 35,000 tonnes per day of ore from the mine to the concentrator, producing no CO₂ and generating electricity through regenerative braking.
• Results from the Project’s sustainability report published in 2024 that among others estimates the Scope 1 and 2 greenhouse gas emissions of the Project ranking it 35% lower of CO₂-eq/lb Mo emissions vs comparable mines under the current NI 43-101 Feasibility Study scenario and 73% lower CO₂-eq/lb Mo emissions using the renewable scenario of wind and solar energy.
• Results of a technical report on a Malmbjerg dust dispersion model showing that Total Suspended Particulate concentrations for regulated metals using geostatistical methods and a 90th percentile confidence interval scaling method within a 10km project area radius, to be below the regulatory metal criteria concentrations.
• Estimations of salinities and fresh water supply in the project area; an updated closure plan; a mitigation plan for rock storage facilities a review of various alternative TMF options and locations and conclusions on the preferred TMF.

Qualified Person Statement

The news release has been reviewed and approved by Mr. Jim Steel, P.Geo., M.B.A. a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.

Greenland Resources Inc.

Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The Project has copper and also magnesium, a market dominated 98% by China. The Malmbjerg molybdenum project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from an NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with an US$820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using US$18 per pound molybdenum price. The Proven and Probable Reserves are 245 million tonnes at 0.176% MoS₂, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS₂, approximately 25% of EU total yearly consumption. The project had a previous exploitation license granted in 2009. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site (www.greenlandresources.ca) and our Canadian regulatory filings on Greenland Resources’ profile at www.sedarplus.com.

The Project is supported by the European Raw Materials Alliance (ERMA). ERMA is managed by EIT RawMaterials, an organization within the EIT, a body of the European Union.

About Molybdenum and the European Union

Molybdenum is a critical metal used mainly in steel and chemicals that is needed in all technologies in the upcoming green energy transition. When added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. Based on data from the International Molybdenum Association and the European Commission Steel Report, the world produced around 576 million pounds of molybdenum in 2021 where the European Union (“EU”) as the second largest steel producer in the world used approximately 24% of global molybdenum supply and has no domestic molybdenum production. To a greater degree, the EU steel dependent industries like the automotive, construction, and engineering, represent around 18% of the EU’s ≈ US$16 trillion GDP. Greenland Resources strategically located Malmbjerg molybdenum project has the potential to supply in and for the EU approximately 25% of the EU consumption, of environmentally friendly high-quality molybdenum from a responsible EU Associate country, for decades to come. The high quality of the Malmbjerg ore, having low impurity content in phosphorus, tin, antimony, and arsenic, makes it an ideal source of molybdenum for the high-performance steel industry lead worldwide by Europe, specifically the Scandinavian countries and Germany.

Forward Looking Statements

This news release contains “forward-looking information” (also referred to as “forward looking statements”), which relate to future events or future performance and reflect management’s current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “hopes”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the Company’s objectives, goals or future plans; planned capex financing and outcomes of due diligence reviews; construction and engineering initiatives for the Malmbjerg molybdenum project; statements, exploration results, potential mineralization, the estimation of mineral resources and reserves, and their valuation, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: future planned development and other activities on the Project; favourable outcomes of due diligence reviews; planned energy requirements of the Project; obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum; our mineral reserve estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company’s projects, including the Malmbjerg molybdenum project; prices for molybdenum remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the favourable results of the SIA (Social Impact Assessment) and EIA (Environmental Impact Assessment); favourable local community support for the Project’s development; the projected demand for molybdenum both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contacts

For further information please contact:

Ruben Shiffman, PhD Chairman, President

Keith Minty, P.Eng, MBA Engineering and Project Management

Jim Steel, P.Geo, MBA Exploration and Mining Geology

Nauja Bianco, M.Pol.Sci. Public and Community Relations

Gary Anstey Investor Relations

Eric Grossman, CPA, CGA Chief Financial Officer

Corporate office Suite 1810, 25 York Street, Toronto, Ontario, Canada M5J 2V5

Telephone 1-844-252-0532

Email info@greenlandresourcesinc.com
Web www.greenlandresources.ca

WINCHESTER, Va. & ALEXANDRIA, Ont.–(BUSINESS WIRE)–Trex Company, Inc. [NYSE: TREX], the world’s largest manufacturer of high-performance, wood-alternative decking and railing, and a leading brand of outdoor living products, has announced the expansion of its distribution network in Canada with Alexandria Moulding. The leading North American manufacturer and distributor of mouldings, millwork and decorative building products, will bring the brand’s premium decking and railing products to a broader range of Canadian retailers, homeowners and contractors.

Alexandria Moulding, a Specialty Building Products (SBP) brand, brings a wealth of sales, marketing and supply chain expertise to the partnership. SBP is a leading provider of building materials in North America, with a deep understanding of the market and a commitment to delivering high-quality products.

“We are excited to team with Alexandria Moulding to bring Trex’s innovative products to a wider audience in Canada,” said Bret Martz, Group Vice President, North American Professional Sales for Trex Company. “Alexandria Moulding’s strong reputation and extensive distribution network will help us expand our reach of innovative decking and railing products to more consumers and we look forward to a successful partnership.”

“We are thrilled to expand our relationship with Trex,” said Chris Gerhard, Executive Vice President of SBP. “By combining Trex’s high-quality products with our strong distribution network, we can provide more coverage to the Canadian market with the best possible outdoor living solutions.”

This move marks a significant step forward for Trex as it continues to expand its presence in the Canadian market. By working with Alexandria Moulding, Trex is able to offer a wider range of products and services, making it easier than ever to create beautiful, low-maintenance outdoor living spaces.

Trex boasts the industry’s strongest distribution network with products sold through more than 6,700 retail outlets across six continents. For more information, visit Trex.com. To learn more about Alexandria Moulding, go to AlexandriaMoulding.com.

About Trex Company

For more than 30 years, Trex Company [NYSE: TREX] has invented, reinvented and defined the composite decking category. Today, the company is the world’s #1 brand of sustainably made, wood-alternative decking and deck railing, and a leader in high performance, low-maintenance outdoor living products. The undisputed global leader, Trex boasts the industry’s strongest distribution network with products sold through more than 6,700 retail outlets across six continents. Through strategic licensing agreements, the company offers a comprehensive outdoor living portfolio that includes deck drainage, flashing tapes, LED lighting, outdoor kitchen components, pergolas, spiral stairs, fencing, lattice, cornhole and outdoor furniture – all marketed under the Trex^® brand. Based in Winchester, Va., Trex is proud to have been named America’s Most Trusted^® Outdoor Decking 4 Years in a Row (2021-2024). The company was also recently included on Barron’s list of the 100 Most Sustainable U.S. Companies 2024, named one of America’s Most Responsible Companies 2024 by Newsweek and ranked as one of the 100 Best ESG Companies for 2023 by Investor’s Business Daily. For more information, visit Trex.com. You may also follow Trex on Facebook (trexcompany), Instagram (trexcompany), X (Trex_Company), LinkedIn (trex-company), TikTok (trexcompany), Pinterest (trexcompany) and Houzz (trex-company-inc), or view product and demonstration videos on the brand’s YouTube channel (TheTrexCo).

About Alexandria Moulding

Alexandria Moulding is a leading North American manufacturer and distributor of mouldings, millwork and decorative building products. With a wide range of products and a strong commitment to quality, Alexandria Moulding is a trusted partner for retailers, homeowners and contractors. For more information, visit alexandriamoulding.com.

Contacts

Trex Company: Corinne Racine or Abigail Cox

cracine@lcwa.com or acox@lcwa.com
Alexandria Moulding: Travis Brady

travisbrady@sbp.com

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Westphalia Dev. Corp. (the “Corporation”) announced today its results for the third quarter ending September 30, 2024. 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. The Corporation is managed by Walton Global (the “Manager”).

Material Event:

• There is material going concern uncertainty as the Manager has informed the Board that it will not fund on a go forward basis, unless a plan is put in place to address the liquidity of the Corporation and to make a definitive plan to pay the outstanding debt, unsecured creditors, and the Manager.
• The Board and the Manager have made a commitment to construct and implement a plan as soon as possible to deal with these matters, which will include a restructuring of the Corporation.
• The Manager (and its affiliates) are owed ~$10,000,000+ and has not been paid a management fee since 2016.

Financial Results

• Operating expenses for this quarter remained consistent with Q2 2024.
• On August 27, 2024, the Corporation signed the First Amendment to the Amended New Loan Program which extends the maturity date of the loan to July 31, 2025.
• On August 27, 2024, The Corporation also signed the First Amendment to the WTCF Loan which provides a second advance of $6,761,678 USD, with a maturity date of June 30, 2025.
• On November 19, 2024, The Corporation exercised their option to extend the maturity date of the first WTCF Loan advance to December 31, 2025.
• The Manager and its affiliates continue to fund monetary shortfalls.

Development and Sales Activities

• The Westphalia Interchange TIF project located at the intersection of Pennsylvania Avenue (Route 4) and Woodyard Route (Route 223) is substantially complete. The General Contractor is preparing to finish the remaining State Highway Administration punch list items by Q2 2025.
• The Presidential Parkway East TIF project is substantially complete. We are in discussions with the local County for final acceptance. A contract to complete the final punch out landscaping is being finalized with anticipated completion in Q4 2024/Q1 2025.
• The Presidential Parkway West TIF project has work remaining. Management has a plan to complete all work, except utility dependent work, by the end of Q2 2025.
• The Manager has received multiple purchase offers for Parcels A & B from best-in-class retail developers to build a first-class mixed-use commercial development. Deal terms are currently being negotiated and we expect to have an agreement in place within 90 days.
• The Manager has completed Purchase and Sale Agreements for Parcels F, N, and M totaling approximately 50 acres. Settlements are anticipated to occur between Q1 and Q3 2025.
• The Manager received unanimous approval of our Detailed Site Plan (DSP Infrastructure) from The Maryland-National Capital Park and Planning Commission for Parcels A & B. This plan approval streamlines and accelerates the approval timeline for the future mixed-use development to be located on these parcels.
• The Manager has hired a best-in-class engineering and planning firm to complete the entitlements for the remaining approximately 96 acres, which includes the adjacent land to the north owned by a related party. The expectation is that this work will take 2 to 3 years to complete and receive full approval.

The Corporation’s unaudited interim consolidated financial statements and management’s discussion and analysis for the third quarter ended September 30, 2024, are available under the Corporation’s SEDAR profile at www.sedar.com.

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 45 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$4.37 billion in assets on behalf of its global investors, builders and developer clients and industry business partners. Walton has more than 90,000 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, builder land financing and build-to-rent. For more information visit walton.com.

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 nine months ended September 30, 2024, and related notes, prepared in accordance with International Financial Reporting Standards.

Contacts

Allison+Partners

waltonglobal@allisonpr.com