Toronto, Ontario--(Newsfile Corp. - December 16, 2025) - Elevate Service Group Inc. (TSXV: SERV) ("Elevate" or the "Company") is pleased to announce that it has closed an additional non-brokered private placement (the "Offering") of 953,000 common shares at a price of $1.05 per common share for gross proceeds of approximately $1.0 million.

The Offering was selectively opened to accommodate a small number of strategic investors following the Company's successful public listing. The financing was completed at a premium to Elevate's previously announced $9.1 million private placement at $1.00 per share, which formed part of the Company's qualifying transaction and public listing completed in November 2025.

Net proceeds from the Offering will be used to strengthen Elevate's balance sheet, support working capital requirements, advance organic growth initiatives, and provide additional flexibility to pursue potential strategic acquisitions.

"Following our public listing, we were approached by a number of strategic investors who expressed interest to participate in Elevate's growth," said Paul Bissett, Chief Executive Officer of Elevate. "We made a deliberate decision to modestly increase our equity capital at a premium valuation to accommodate these investors while maintaining balance sheet discipline and minimizing dilution. Combined with the $9.1 million raised in November, total equity capital raised now exceeds our original $10.0 million target established as part of the qualifying transaction."

Elevate paid cash finder's fees of 6.0%, representing $60,039, and issued compensation options of 6.0%, representing 57,180 options. Each compensation option entitles the holder to acquire one common share of Elevate at an exercise price of $1.25 per share for a period of 18 months.

The Offering closed on December 16, 2025. The common shares issued pursuant to the Offering were distributed under applicable prospectus exemptions and are subject to resale restrictions, including a statutory hold period of four months and one day from the date of issuance, in accordance with Canadian securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

Elevate Service Group Inc.

Elevate is a national facilities management and essential commercial services platform focused on consolidating and modernizing this fragmented sector. Through its operating companies, Elevate brings over 20 years experience as a trusted partner for national, blue-chip customers. Elevate's strategy is to integrate a portfolio of profitable operating businesses across a scalable, national platform with shared infrastructure, technology integration, and operational synergies. The result is superior customer outcomes, more comprehensive services and expanded market reach. Elevate trades on the TSX Venture Exchange under the ticker "SERV".

Cautionary Note Regarding Forward-Looking Information

This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates, and projections as of the date of this news release. Any statement that discusses the proposed acquisition and its expected closing date, and other predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance (often but not always using phrases such as "expects", "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budgets", "schedules", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events, or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that regulatory approvals for the proposed acquisition will be received. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: failure to receive regulatory approvals for the proposed acquisition; and general business, economic, competitive, political, and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information, or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE: Elevate Service Group Inc.

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Source: Elevate Service Group Inc.