Parvis Announces the Filing of Its Audited Financial Statements and MD&A for the Year Ended March 31, 2024

Vancouver, British Columbia–(Newsfile Corp. – July 31, 2024) – Parvis Invest Inc. (TSXV: PVIS), a technology-driven real estate company dedicated to broadening access to institutional-quality investment opportunities, in compliance with securities laws, announces that it has completed the process of filing its audited Consolidated Financial Statements and Management Discussion & Analysis for the year ended March 31, 2024. For full financial information, notes, and management commentary, please refer to the Company’s Management’s Discussion and Analysis (MD&A) and the Consolidated Financial Statements for the year ended March 31, 2024, available on SEDAR+ at www.sedarplus.com.

“Our 2024 audited results showcase the remarkable progress Parvis has made in refining our platform and accelerating revenue growth,” said David Michaud, Parvis CEO and Director. “Our success this year stems from strategic partnerships and targeted tech enhancements, which have expanded our investor base and positioned us for significant growth. With a robust network and ecosystem partners, we’ve established ourselves as the leading private equity marketplace in Canada, and we’re ready to seize the next wave of opportunities.”

Financial Result Full Year Highlights:

Financial Growth: 2024 was the first year of revenue for Parvis. The Company generated over $180,000 in revenue primarily in the last 2 quarters. Parvis also has deferred revenues of over $100,000 for 2025 which are sales for which the Company has been paid, but services are still to be delivered. With our partnership with over 30 issuers clients, we anticipate the cash flow from sales will continue to be larger than reported revenue.

Strategic Focus: The company continues to focus on the path to profitability and increasing near term and long term revenues through multiple streams such as EMDsolutions, the Parvis Direct Access Fund and secondary market service.

New B2B Clients: Since its public debut in March 2023 with no sales, Parvis has achieved nearly $300,000 in sales as of March 31, 2024. This growth is attributed to the addition of over 30 private equity issuers, including REITs, real estate developers, and MICs, who have seamlessly connected investors across Canada through Parvis’s tech-enabled platform. The sales figures include over $180,000 in revenue earned and more than $100,000 in deferred revenue from client payments.

Parvis’s strategy and effective collaboration with its clients and partners have significantly expanded the accessibility and efficiency of private asset markets. Notable new Exempt Market Dealer (EMD) issuer clients include:

• Core Development Group Ltd., a Toronto-based real estate development company that actively sources, capitalizes, develops and manages a wide range of real estate projects and has an impressive portfolio of over 2,275 residential units with over $1.55 Billion in projected completion value.
• Lankin Investments, a Toronto-based prominent asset management firm from Ontario, boasts a $750 million portfolio that encompasses over 2,000 multi-family units and more than 1,000 units under development. Lankin’s collaboration with Parvis introduces its Pulis Real Estate LP2, offering investors a share in a diversified portfolio of multi-family real estate across Canada.
• Revesco REIT, an established perpetual life REIT with over $100M in AUM, specializes in acquiring ownership in open-air shopping centers and mixed-use properties across the United States, focusing on dynamic trade areas with diversified economies. Revesco REIT operates as a nimble and responsive boutique real estate investment and management firm based in Denver, CO.

These strategic partnerships highlight Parvis’s focus on enhancing the scope and accessibility of high-quality real estate investments. By leveraging its cutting-edge platform, Parvis continues to broaden its market footprint, increase revenue streams, and improve investment handling efficiencies.

Technology Development: As previously announced and with the objective of harnessing advanced technology to enhance our issuer clients’ capital-raising processes, we’ve integrated to our Platform the Parvis’ Investor Referral Program aimed at enhancing the efficiency of investor processing and refining the capital-raising process. We also leveraged AI-driven field placement technology and upgraded our agreement automation capabilities to increase agreement-building efficiency and streamline the investment processing flow. Parvis also expanded its regulatory suitability assessments to include additional different data points allowing for more tailored and informed private market investment advice. We will continue to make Platform improvements in the next year.

Navigating Growth and Market Dynamics: As Parvis advances its growth trajectory, the company is committed to continuously refining its operations and learning from client feedback. We acknowledge that every growing business faces its share of challenges, especially in volatile market environments. Our team remains agile, adapting to evolving market trends and economic conditions.

Strategic Adaptability: In response to market challenges, we are dedicated to implementing new strategies and adjustments that align with our long-term vision. While market fluctuations and economic pressures pose obstacles, our confidence in our strategic direction remains steadfast.

Commitment to Value Creation: We are proud of our achievements and progress thus far. Our focus remains on delivering long-term value to our shareholders by maintaining a dynamic and responsive approach to the market’s demands. Despite the hurdles, our ongoing commitment is to ensure sustained growth and shareholder satisfaction.

Financial and Operational Performance Update

Cash Position and FY 2025 Financial Guidance: As of March 31, 2024, Parvis holds a robust cash balance of $1.73 million, with expectations to sustain this balance above $1 million. We project a significant ramp-up in sales over the next 12 months, with anticipated revenue reaching $1.5 million for 2025. We also foresee reaching a break-even cash flow by Q3 2025, followed by a pathway to profitability.

Platform Growth Metrics: In the most recent calendar quarter, Parvis demonstrated remarkable growth. Transactions on our platform surged by 273% compared to the entire 2023 calendar year. Concurrently, total transaction dollars increased by 806%, and the average transaction size rose by 296%. These metrics reflect a strong upward trajectory in platform activity, indicating a growing capacity for higher transaction volumes and larger dollar amounts. Continued momentum in these areas is expected to significantly enhance Parvis’ investment flow, driving higher revenues and expanding our network of active investors.

Market Conditions and Profitability: Parvis anticipates ongoing challenges in the real estate development market throughout fiscal 2025. These adverse conditions have impacted our profitability and contributed to reduced reported revenues and gross margins for 2024, particularly during the first half of the year. Despite these challenges, we remain committed to navigating the market landscape and leveraging our strategic initiatives to bolster long-term growth and shareholder value.

Parvis has no debt and approximately 26,771,736 common shares outstanding, of which approximately 9,508,447 common shares (35.5%) are held by insiders. Of Parvis’ outstanding common shares, approximately 11,457,410 common shares (42.8%) are escrowed pursuant to TSX Venture Exchange policies. Further details with respect to Parvis’ escrowed securities can be found in Parvis’ filing statement dated February 28, 2023. For assumptions and other details, please see the section below entitled “Caution Regarding Forward-Looking Information” and the Audited Financial Statements and Management’s Discussion and Analysis for the year ended March 31, 2024. The Audited Financial Statements and Management’s Discussion and Analysis for the year ended March 31, 2024 are now available on SEDAR+ at www.sedarplus.ca.

About Parvis

Parvis is a technology-driven real estate investing platform. Focused on broadening access to institutional-quality investment opportunities, Parvis promotes greater access to this historically inaccessible and illiquid asset class. Enabled by AI and blockchain technology, Parvis makes finding, tracking, and maximizing investments an experience that is both frictionless and empowering. Parvis, headquartered in Vancouver, employs experts in Toronto, Vancouver, Kelowna, and Montreal. Additional information about Parvis is available at www.parvisinvest.com and on SEDAR+ at www.sedarplus.ca.

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally refers to information about an issuer’s business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer’s prospective financial performance or financial position. Forward-looking information typically contains statements with the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding the Company’s business plans and role in the investment industry. To develop the forward-looking information in this news release, the Company made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; and the ability of the Company to execute and achieve its business objectives. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; changes in general economic, business and political conditions; changes in applicable laws and regulations; compliance with extensive government regulation; reliance on key and qualified personnel; risks associated with the real estate, investment, and technology industries in general. The foregoing list of material risk factors and assumptions is not exhaustive. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.

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.

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