Yorkton Equity Group Inc. announced that after completing a thorough due diligence and evaluation process, the Company has removed all buyer's conditions on a purchase and sale agreement ("PSA") for the acquisition of "The Fuse", a one hundred and twenty-five (125) unit multi-family residential complex constructed in 2015 and comprising of two condominium grade buildings situated on approximately 2.67 acres of land located in the Summerside neighborhood at 2105 and 2109 68 Street SW, Edmonton, Alberta (the "Property") with a purchase price of $25,625,000. Under the terms of the PSA, as amended, the Company had sixty (60) days from the date of execution to waive or satisfy the condition on the transaction, which was obtaining financing to complete the transaction. On September 21, 2023, the Company satisfied the financing condition of PSA, and all buyer conditions were removed.

The closing date for the acquisition of the Property is November 16, 2023. The Property is comprised of twenty-three (23) one-bedroom with one-bathroom suites, seventy (70) two-bedroom with two-bathroom suites, and thirty-two (32) two-bedroom and den with two-bathroom suites. The average suite size is 910 square feet and the total net rentable space is 113,803 square feet.

Each suite includes contemporary suite amenities such as granite countertops, tiled kitchen backsplash, modern stained birch cabinets and designer tile flooring and is equipped with in-suite laundry and storage. The Property has forty-eight (48) underground parking stalls and one hundred and thirty-two (132) surface parking stalls. Each building is equipped with elevator access to all floors.

The Property also includes amenities such as air-conditioned hallways, and a fitness center in each building. The Company has already paid non-refundable deposits totaling $1,000,000. The remaining amount of the purchase price, subject to the usual adjustments, will be paid on the closing date.