Twitter Facebook LinkedIn YouTube

New Listing: Yorkton Equity Group (TSXV:YEG)

Video Platform Video Management Video Solutions Video Player

Yorkton Equity manages the assets and operates the business of 1421526 Alberta Ltd., which is the owner of a two storey retail/commercial building referred to as Pacific Rim Mall situated on a 26,400 square foot land base, and a 34,845 square foot gravel parking lot located at the North East corner of 98th Street and 105 Avenue in Edmonton.

Tags:

new listing

Additional Information:

Company: Yorkton Equity Group
Website: http:// www.YorktonGroup.com
Stock Symbol: TSXV:YEG
Date Published: Nov 23, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Yorkton Equity Group is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “YEG”, following its qualifying transaction with Capital Pool Company Trusted Brand 2016 Inc.

Yorkton Equity manages the assets and operates the business of 1421526 Alberta Ltd., which is the owner of a two storey retail/commercial building referred to as Pacific Rim Mall situated on a 26,400 square foot land base, and a 34,845 square foot gravel parking lot located at the North East corner of 98th Street and 105 Avenue in Edmonton.

Pacific Rim Mall has the largest banquet restaurant in Edmonton and HSBC as the anchor bank tenant and caters to the ethnic Chinese community as well as all others.

These two businesses draw traffic of different nationalities from all over Northern Alberta given that Edmonton is a gateway city to the north.

There are numerous events hosted by Pacific Rim Mall and by the banquet restaurant in celebration of many Chinese and other ethnic festivals which increases traffic for the mall.

The retail tenants in Pacific Rim Mall account for less than 10% of the rental income with the service tenants such as travel agency, massage therapist, accounting and hair salon comprising approximately another 10% of the total rent.

The company’s short-term objectives will be to continue with the renovations to the property which were started during the last three years including a $500,000 facade renovation, as well as focusing on strategically acquiring additional real estate properties.

The parking lot along 98 Street has been approved by the City of Edmonton for a new additional shopping mall and two high rise towers for a total of 296 residential condominiums on top of the new mall.

This future development will have underground parking and above grade parking connecting to the existing mall.

Early discussion has been made with senior management of the adjacent landowner to build a pedway connecting between the future developments.

1421526 Alberta Ltd. has engaged Lui International Group Inc., operating as Yorkton Management, a non-arm’s length property management company, to manage the property.

Yorkton Management has extensive property management experience in commercial and residential properties and has been managing the entire operation of this property for more than 10 years.

Yorkton completed a non-brokered private placement raising approximately $1.6 million from the placement of 7.8 million units priced at $0.20 per unit.

Each unit consisted of 1 share and 1 warrant, with the warrant exercisable at $0.30 for 36 months, subject to an acceleration clause.

The shares are trading at $0.15.

Yorkton Equity is an affiliate of Yorkton Group International.

For more information, please visit the company’s website www.YorktonGroup.com, contact Ben Lui, President and CEO, at 780-409-8228, Ext 222, or email ben.lui@YorktonGroup.com

I’m Megan Edwards for Investmentpitch Media