SURREY, BC / ACCESSWIRE / April 1, 2022 / PROPetual (Venture 2021) Real Estate Investment Trust ("PROPetual" or the "REIT"), a private Canadian real estate investment trust focused on real estate development projects across Metro Vancouver, British Columbia, announces a partnership with veritree Technology Inc. ("veritree") to reforest 100 acres of land for every acre of land developed by PROPetual.
"In the past year alone, British Columbia has seen firsthand the impact of climate change; from floods, tornados, and forest fires," said Ravi Mann, President of PROPetual Capital Partners. "At PROPetual, our work is guided by our values of believing that it is our social responsibility as global citizens to fight climate change, but it's impossible to do this alone. Partnering with veritree's innovative platform allows investors the opportunity to see financial growth in their investments while doing their part to restore the planet and fight climate change. This builds upon PROPetual's commitment to be conscious agents of change through impact investing on a global scale."
The partnership launches in April 2022 beginning with the planting of 10,000 verified trees in Williams Lake, British Columbia to showcase PROPetual's commitment to a restorative business model. This first step intends to make an immediate impact through post-fire restoration efforts in the wake of recent BC forest fires. These efforts will help restore the damaged ecosystems to give the forest a new chance of survival, and opportunities to thrive. With this hard work, the local communities once displaced will be able to rebuild their livelihoods and their futures.
"We are thrilled to be partnering with a fellow B.C. organization that shares our values of restoring the planet and making a positive impact," said David Luba, Co-Founder and Head of Partnerships of veritree. "Together we are creating jobs, providing new habitat for wildlife, cleaning our air and hopefully inspiring other businesses to integrate restoration into their model. PROPetual's choice to use the veritree platform to ensure accuracy and transparency will have a transformative impact on the world's forests, as well as local habitats, communities, and families. By working together, we are one step closer to achieving our mission to plant and verify one billion trees within the decade."
Restoration projects have historically been very difficult to monitor, measure, and audit, especially from the ground-up. At the same time, the need has never been greater to mobilize investment for large-scale restoration projects. veritree is an innovative platform built with blockchain technology that brings transparency, accuracy, and traceability to global restoration efforts. Unlike other verification efforts, veritree technology sits in both the planting organizations to validate, monitor, and analyze ground-level efforts for activities such as tree planting, and also upstream, where business customers can follow planting organizations' efforts. On-the-ground data linked to trees planted is verified and transmitted to a company's portal to track progress. This interactive portal will allow stakeholders to claim trees, see collective efforts, track impact and empower businesses to become champions in the conversation around climate change.
PROPetual's investors and community will have access to the company's forest which provides an overview of PROPetual's restoration portfolio, project descriptions and impacts achieved.
For more information and updates about the partnership's impact please visit propetualreit.veritree.com
About PROPetual REIT
Capital that builds. PROPetual REIT is a private Canadian real estate investment trust that provides investors direct access to qualified development opportunities across Metro Vancouver. We help investors to diversify their portfolios while maximizing socio-economic impact through high-quality contributions to the built environment. PROPetual REIT is eligible for investment through registered accounts in British Columbia, Alberta and Ontario. To learn more about how to invest in PROPetual REIT, visit: PROPetualREIT.com.
About Isle of Mann Property Group
Founded in 1994 as a modest developer of single-family homes, today Isle of Mann represents a vertically integrated commercial and residential property group. We leverage our experience and deep knowledge of real estate fundamentals to competently execute across the full spectrum of development, investment, and asset management. For more information visit: iompropertygroup.com.
Contact
Alyssa Barry
Media and Investor Relations
1.604.997.0965
info@propetualreit.com
CAUTIONARY STATEMENT
The information contained in this news release is for informational purposes only; is not investment, financial or other advice; and is not intended to be used as the basis for making an investment decision. This news release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities, nor shall any part of this news release form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities of PROPetual REIT. This news release does not constitute any form of commitment, recommendation, representation, or warranty on the part of any person. No reliance should be placed on the completeness of the information contained in this news release. This news release is not intended to be a comprehensive review of all matters concerning the REIT. Please visit https://propetualreit.com/about for more information.
This news release contains forward-looking information regarding the REIT and its business, which relate to future events or future performance and reflect current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the Company's ability to bring its products to commercial production, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company's products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.
SOURCE: PROPetual Real Estate
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