Pathfinder Announces Expansion into Eastern Canada with Agreement to Manage 5 RV Parks; Pathfinder also Secures Right of First Refusal on 5 Individual RV Park Assets
*VANCOUVER, BC / ACCESSWIRE / May 6, 2024 / **Pathfinder Ventures Inc. (TSXV:RV) ("Pathfinder" or the "Company") *is pleased to announce it has secured the "Right of First Refusal" (ROFR) on 5 individual RV resorts in Eastern Canada and has also signed an agreement to take over management of 5 RV Resorts in 2024.
Pathfinder has obtained the "Right of First Refusal" (ROFR) for four RV assets in Ontario and one in Nova Scotia. Furthermore, Pathfinder has entered into a management agreement for five RV Resort assets, comprising four RV assets in Ontario and one in Nova Scotia, thereby increasing the total number of RV Resorts in the Pathfinder network to nine.
These assets strategically span across Ontario, including markets such as Haliburton, Muskoka, Marmora, and Niagara. Additionally, one asset is situated in the popular tourist destination of Cheticamp, Nova Scotia. The RV Resorts are primarily seasonal vacation properties with a short-term tourist component, aligning well with Pathfinder's expansion goals.
The 24-month ROFR provides Pathfinder with the exclusive opportunity to acquire these properties at fair market valuation and under flexible terms. Furthermore, the management agreement for these five parks is expected to increase the company's revenue and allow for a seamlessly integrated expansion into Pathfinder's existing portfolio.
Joe Bleackley, Founder and CEO of Pathfinder, stated, "This expansion is not only significant but also strategically positioned to tap into thriving markets across Ontario and Nova Scotia. By securing the Right of First Refusal for these RV assets and entering into management agreements, Pathfinder is now poised for considerable growth and success in the recreational vehicle park industry. The addition of these managed properties in sought-after destinations like Haliburton, Muskoka, and Cheticamp, Nova Scotia, demonstrates Pathfinder's commitment to providing exceptional experiences for travelers while bolstering its presence in key tourism hotspots.
*About Pathfinder Ventures Inc. (TSXV: RV):*
Pathfinder Ventures Inc. is a leading provider of premium RV Resort & camping experiences, committed to delivering exceptional hospitality and modern amenities to outdoor enthusiasts. With a portfolio of strategically located resorts, Pathfinder offers unparalleled opportunities for memorable vacations.
To learn more about Pathfinder Camp Resorts, click the link below:
www.PathfinderCampResorts.com
*On behalf of the board of directors of the Corporation:*
Joe Bleackley
Chief Executive Officer, Founder and Director
Pathfinder Ventures Inc.
*Company Contact:*
Joe Bleackley
Chief Executive Officer, and Director
Phone: (604) 914 2575
Email: ir@PathfinderVentures.ca
Website: PathfinderVentures.ca || PathfinderCampResorts.com
*Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture 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.*
*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 "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.*
*Forward-Looking Information Cautionary Statement*
This news release contains forward-looking statement related to Pathfinder's board of directors. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations include risks detailed from time to time in the filings made by the Corporation with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Corporation does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release.
In the case of RV, this news release includes certain "forward-looking statements" which are particular to RV and are not comprised of historical facts. Forward-looking statements include estimates and statements that describe RV's future plans, objectives or goals, including words to the effect that RV or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to RV, RV provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, RV's objectives, goals or future plans, statements, and refinancing and funding. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the ability of the RV to successfully implement its development strategy and whether this will yield the expected benefits; competitive factors in RV's industry sector; the success or failure of product development programs; currently existing applicable laws and regulations or future applicable laws and regulations that may affect RV' s business; decisions of regulatory authorities and the timing thereof; Covid-19 related risks, availability of properties; the economic circumstances surrounding RV's business, including general economic conditions in Canada, the US and worldwide; changes in exchange rates; changes in the equity market; inflation; uncertainties relating to the availability and costs of financing needed in the future; and those other risks disclosed in the filing statement or other disclosure document prepared and supplied on Sedar. Although RV believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. RV disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
*SOURCE:* Pathfinder Ventures Inc.
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