Toronto, Ontario--(Newsfile Corp. - June 30, 2021) - Universal PropTech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) ("UPI" or the "Company") is pleased to provide an update on the milestones the Company has accomplished in the first half of calendar year 2021 and unveil its guidance for the second half.
Highlights for First Half of 2021
In the first half of 2021, the Company successfully accomplished the following milestones:
- Closed an oversubscribed equity raise of approximately $845,000;
- Retired all debt;
- Received approximately $700,000 in cash through warrant and option exercises;
- Commenced trading on Frankfurt Stock Exchange in Germany;
- Commenced trading on OTCQB market in the United States;
- Investment in ISBRG Corp. and obtained exclusive agency rights;
- Added new partnerships and augmented product offerings;
- CEO stock purchases of 490,000 shares; and
- New appointment of Advisory Board members.
Exciting Things to Come - Second Half of 2021 and Beyond
For the second half of the calendar year, the Company expects to:
- Round out additional capabilities to deliver healthy buildings, such as building automation, building performance, indoor air quality and energy resources;
- Continue to expand distribution capabilities across Canada;
- Begin expansion efforts into the United States;
- Expand our share of "the wallet" from existing and new clients by offering additional products and solutions;
- Developing alternate asset class offering with financing and/or owning energy assets; and
- Identifying and nurturing acquisition opportunities across Canada and the US.
Christopher Hazelton, CEO of UPI commented: "The first half of 2021 has been a very busy time for UPI. The Company has gained several new key business relationships that provide our partnership portfolio with the firepower needed to aggressively accelerate sales." Mr. Hazelton continued: "UPI has also achieved a number of corporate milestones which give us the financial flexibility needed to respond to the changing market environment. We are excited to have several individuals join our Advisory Board, whose experience and insight will be invaluable as we continue to conquer new heights."
"We're very excited for our ambitious growth program with more technologies, greater geographic reach and ability to finance and own energy assets," stated Frank Carnevale, Chief Growth Officer, Universal PropTech Inc. "All of these solutions are culminating in a unique customer-centric offering for a healthy and intelligent building of the future, today, and Universal PropTech will be at the forefront of delivering value for customers, staff and shareholders."
Watch Frank Carnevale, Chief Growth Officer, explain what the future looks like for Universal PropTech Inc.
The Company wishes to thank all the shareholders for their continuous support and invites everyone to view our updated corporate presentation available on our website at: https://universalproptech.com/investor-deck/.
H1 2021 KEY CORPORATE HIGHLIGHTS
Strong Financial Position. The Company completed financings in the aggregate of $854,833 to add depth to its balance sheet, and saw an inflow of an additional $700,000 through the exercise of outstanding warrants and options.
Expansion of Capital Markets Reach. The Company is pleased to have achieved three key milestones which provide it with visibility as it continues to conquer new markets and establish a leadership position in various product verticals:
- Listing on Frankfurt Stock Exchange ("FSE") under the symbol 8LH. Since completing its listing on the FSE on March 1, 2021, approximately 1,139,000 Shares have been traded through the facilities of FSE.[1]
- Listing on OTC Venture Exchange ("OTCQB") under the symbol UPIPF. Since completing its listing on the OTCQB on April 21, 2021, approximately 274,000 Shares have been traded through the facilities of OTCQB.[2]
Marquee Advisory Board. As the Company continues its growth, having access to appropriate expertise and guidance is imperative to address the challenges of the changing business environment. Over the past few months, the Company has been successful in attracting several advisory board members, each of whom has appropriate expertise in a functional area that the Company believes to be key part of its strategy. Since the beginning of the year, the company has added the following members to its advisory board:
- Dwayne Matthews - Mr. Matthews is an innovation evangelist and "future of education" strategist and converges and shares knowledge on the future of education, disruptive technology, and the evolution of work. Mr. Matthews advises governments, boards, educators and parents on the 4th industrial revolution, the future of education, future of work and its impact on national security and prosperity. Mr. Matthews was an international educator at one of the top five private schools in South America and the junior chairperson at a Toronto District School Board school in Toronto, Canada. He was also a member of the core strategic planning team at The FDR International School, in Lima, Peru.
- David Berry - Mr. Berry began his career as a chartered accountant with Ernst & Young, subsequently joining Scotia Capital where he became one of the most successful traders in Canadian history. Mr. Berry cemented his reputation while setting unprecedented records for the growth of Scotia's proprietary trading market share, which has reached over 40 percent of the P&L of the entire institutional equity department.
- Elizabeth McDonald - Ms. McDonald has more than 25 years' experience as a senior executive, industry advocate, industry advisor and board member in government relations, advocacy, organizational management, and communications. Ms. McDonald is a former President and CEO of the Canadian Energy Efficiency Alliance, the national voice of energy efficiency and conservation in Canada, and was previously President of Canadian Solar Industries Association, the national trade association that represents the interests of all aspects of the solar industry in Canada. Ms. McDonald has previously held senior executive and board positions in film, television, production and digital media world.
Key Investment: ISBRG Corp. (SpotLight-19© Device)
Universal PropTech purchased a minority stake in healthcare data analytics company, ISBRG Corp., the creators of a non-invasive COVID-19 detection technology called Spotlight-19©, as previously stated in the February 18th, 2021, press release. As well, the Company secured exclusive agency rights to sell to Canadian governments and educations sectors. ISBRG Corp. has received Investigational Testing Authorization (ITA) from Health Canada and is currently undergoing investigational clinical trials for its COVID-19 diagnostic device - SpotLight-19©. Upon subsequent updates from ISBRG on their Clinical Trials, the Company will update shareholders accordingly.
Technology Partnership Portfolio
UPI has assembled an impressive portfolio of indoor air quality and building performance technologies and will continue to add more of such industry leading technologies revolving around the delivery of healthy buildings. UPI adopted a partnership strategy to secure licenses for leading edge PropTech (equipment/software) solutions, as well as undertaking various internal R&D efforts.
Each of the partnerships are focused on various areas of indoor air quality and healthy building segments to allow for growth the share of customers' wallets by offering latest solutions in a timely manner.
UPI's current notable highlights of its partnership portfolio include:
- LuminUltra - UPI is using the LuminUltra's GeneCount Rapid SARS-CoV-2 surface testing solution to audit effectiveness of disinfection protocols and air quality equipment (please see Company's press release dated February 9, 2021);
- Air Sniper - Air Sniper has developed a solution that properly applies Ultra-Violet Germicidal Irradiation to its' UVC technology, and is suitable for industrial-scale applications (please see Company's press releases dated February 1, 2021; June 4, 2021 and June 21, 2021);
- Fresh-Aire UV - systems are designed to improve Indoor Air Quality by addressing biological contaminants such as viruses, bacteria and mold as well as odors and volatile organic compounds (please see Company's press release dated January 25, 2021);
- AtmosAir - Proven indoor air quality technologies act as a continuous disinfectant, actively reducing a wide range of airborne and surface contaminants such as volatile organic compounds, viruses, bacteria, and germs. The technology reduces odors while impacting dust, mold, mildew, and allergens (please see Company's press release dated January 27, 2021);
- SensorSuite - SensorSuite uses artificial intelligence and their energy cloud ecosystem to optimizes energy savings in multi-unit residential buildings (please see Company press release dated February 3, 2021).
The Company firmly believes that the boom in indoor air quality monitoring and air purification equipment seen since the arrival of the pandemic will sustain over a longer term due to the increased awareness of pathogen transmissibility among building owners, operators, and the general population.
VCI Controls - UPI's Core Operating Unit
UPI conducts its operations through its wholly owned subsidiary, VCI Controls Inc., which provides real estate owners and managers turnkey HVAC and Building Controls design, equipment, installation and ongoing operations and maintenance services for commercial, institutional and multi-residential customers in eastern Canada.
By leveraging its existing VCI platform, Universal PropTech can effectively screen the most exciting and innovative companies in the PropTech space, build accretive partnerships, giving them access to buildings where they can implement their technology. UPI's clients and partners use the VCI platform to test their products with a view of gaining market share. Once the complete solutions are created, they are launched at scale to both new and existing VCI clients.
Diverse revenue streams in various facets of healthy building management allow for greater care and control to introduce new PropTech into the market:
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5341/89113_9083e74c34b209e9_002full.jpg
CEO of Universal PropTech, Chris Hazelton further stated "We are thrilled with all the milestones we have completed in such a short period of time and the team continues to work diligently with our partners to achieve new growth for the remainder of 2021, and positions the company for increased profitability in 2022."
About Universal PropTech Inc.
Universal PropTech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) is a leading building innovation company, selecting, integrating, deploying, and maintaining PropTech in healthy buildings. As trusted advisors, we provide holistic evidence-driven solutions and services for building developers, owners, and operators in Canada. UPI operates through its wholly owned subsidiary, VCI Controls Inc. ("VCI"), a leading supplier and integrator of PropTech healthy building solutions and services. VCI is an industry leader in the acquisition and deployment of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, Universal PropTech Inc. has offices across Canada including, Halifax, Montreal, and Ottawa. For more information, visit www.universalproptech.com.
Contact Information
Universal PropTech Inc.
Chris Hazelton
President and Chief Executive Officer
chazelton@universalproptech.com
(647) 300-2957
Additional Universal PropTech Statement
The Company diligently posts updates through videos from the official company YouTube channel: https://www.youtube.com/channel/UCRYxig8nvpmMeDNaK_6OOSw
Please join the conversation on our Universal PropTech supporter's telegram group at: https://t.me/UniversalPropTech
Forward Looking Statements
Certain information provided in this press release constitutes forward-looking statements and information within the meaning of applicable securities laws. Forward-looking information typically contains statements with words such as "anticipate", "believe", "forecast", expect", "plan", "intend", "estimate", "propose", "project", or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company's securities not to place undue reliance on forward-looking information as, by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company.
The forward-looking information included herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange ("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.
[1] According to Börse Frankfurt data as of market close on June 25, 2021;
[2] According to Stockwatch data as of market close on June 25, 2021;
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89113
