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VANCOUVER, BC – Tribe Property Technologies (TSXV: TRBE) (“Tribe”) is pleased to announce that effective July 31, 2021, its wholly owned subsidiary Tribe Management Inc. has amalgamated with Gateway Property Management under the provisions of the Canada Business Corporations Act (the “amalgamation”). As a result of the amalgamation, the subsidiary will continue to operate as Tribe Management Inc. across Canada.
“This moment is the culmination of months of efforts from our combined executive teams, workforces and external supporters to integrate these two extraordinary value-driven companies,” said Joseph Nakhla, CEO of Tribe. “This is also a moment to recognize our clients and the communities we manage, whether they have been with us for a week or for decades, we strive to provide management with heart to each one of them.”
The amalgamation marks a significant milestone as the company formally begins to roll out its recognizable Tribe Management brand across the country, as one of Canada’s few national condo and rental players, to more than 40,000 communities and more than 100,000 people, with a team of nearly 200 employees and hundreds of contract site-staff.
“With our Tribe Management brand now available across the country, we can provide seamless integration of our technology and services required to simplify living across all stages of a community,” acknowledges Mr. Nakhla. “Our one-stop-shop of tech and services for building and managing residential communities includes pre and post-construction deficiency management, warranty tracking tools, condo, rental and commercial management services and smart building software.”
As part of the amalgamation, Gateway Property Management has been fully transitioned to Tribe’s IT infrastructure, with bolstered security. Tribe also brings Communications, Marketing, Partnerships, and Product and Engineering Teams to support the Company’s pillars of Connecting, Informing, Educating and Protecting its internal and external stakeholders.
About Tribe Property Technologies:
Tribe is a property technology company that is digitizing the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe’s integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers.
Tribe’s business is composed of three revenue pillars: software and services (recurring licensing and management fees), transactional (rent or condo fees, banking services, lease-ups) and digital services and partnerships (smart building products, financial and insurance service).
Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe’s platform decreases customer acquisition costs, increases retention and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.
ON BEHALF OF THE BOARD
Chief Executive Officer
Tribe Property Technologies Inc.
Chief Executive Officer
1155 West Pender Street, Suite 419
Vancouver, British Columbia
For further information, contact:
Corporate + Media
VP Communications and Marketing
Tribe Property Technologies
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Cautionary Statement on Forward-Looking Information
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business, which may include, but are not limited to, statements with respect to the aims and goals of the Company; growth plans including future prospective consolidation in the rental management sector; future acquisitions by the Company; beliefs of the Company with respect to the independent owner-investors market; and prospective benefits of the Company’s platform. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to proposed financing activity, proposed acquisitions, proposed success of the Company’s platform, regulatory or government requirements or approvals, the reliability of third-party information and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.