Universal PropTech Inc. Engages Generation IACP Inc. to Provide Market Making Services
Toronto, Ontario--(Newsfile Corp. - December 15, 2020) - Universal PropTech Inc. (TSXV: UPI) (the "Company", "UPI") is pleased to announce that, subject to the receipt of approval by the TSX Venture Exchange ("TSXV"), it has retained Generation IACP Inc. ("Generation") to provide market making services with the view to enhance the liquidity of and maintain a reasonable market for UPI's common shares.
Pursuant to the agreement with Generation and the Company (the "Agreement"), the Company has agreed to pay Generation an initial fee of C$7,500 plus any applicable taxes, per month. Generation will not receive any other remuneration for its services by the Company. Generation currently does not own any securities of UPI; however, Generation and its clients may acquire a direct or indirect interest in the securities of the Company from time to time.
Generation and UPI act at arm's length and are unrelated and unaffiliated entities. Generation is a member of the Investment Industry Regulation Organization of Canada and a member firm of the Toronto Stock Exchange and the TSX-V. The initial term of the Agreement is six months, and such term will automatically be renewed for subsequent six month periods unless terminated by the Company by providing 30 days prior written notice to Generation. Notwithstanding the foregoing, Generation has the right to terminate the Agreement at any time upon prior written notice to UPI.
About Universal PropTech Inc.
Universal PropTech Inc. (TSXV: UPI), is an investing platform that is acquiring and managing innovative proptech healthy building solutions and services with a focus on helping to halt the spread of COVID-19. The Company is de-risking proptech as a diversified investment platform delivering healthy building solutions and services for building developers, owners and operators in Canada.
With headquarters in Toronto, Universal PropTech has offices across Canada including, Halifax, Montreal, and Ottawa. For more information, visit www.universalproptech.com
Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Forward-looking statements, specifically those concerning future performance and other statements that are not historical fact, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange (the "Exchange") and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Trading in the securities of the Company should be considered highly speculative. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement. Neither the Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Universal PropTech Inc.
President and Chief Executive Officer
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