Toronto, Ontario--(Newsfile Corp. - January 2, 2026) - Elevate Service Group Inc. (TSXV: SERV) ("Elevate" or the "Company") is pleased to provide a series of corporate updates.
Acquisitions Update
Elevate is pleased to confirm that the proposed acquisitions of a security solutions provider announced on November 19, 2025 and an electrical services business announced on November 26, 2025 remain on track for completion in January 2026. The Company continues to advance integration planning activities in preparation for closing.
CFO Transition
Elevate announces the appointment of Frank Guo as Interim Chief Financial Officer of the Company following the departure of Harjit Brar, effective January 5, 2026. Mr. Guo is an accomplished financial executive with over a decade of experience leading accounting and finance functions for public and private companies. He holds an MBA from the Ivey School of Business, is a Chartered Professional Accountant (CPA), and a CFA Charterholder.
Paul Bissett, CEO, commented: "We are pleased to welcome Mr. Guo to Elevate, bringing significant financial leadership and capital markets expertise to the team. We thank Mr. Brar for his service and contributions, particularly his role in leading the Company's financial reporting, audit readiness, and transition to public company status in connection with the Qualifying Transaction."
Mr. Brar has also resigned from the Board of Directors of Elevate effective January 5, 2026.
Insider Ownership Update
Since December 2, 2025, directors and officers of the Company have collectively purchased 77,800 common shares of Elevate in the open market in accordance with applicable securities laws, demonstrating confidence in the Company's strategy and long-term prospects. Directors, officers and other insiders collectively own 16,639,800 common shares representing 49.5% of total common shares outstanding. All common shares held by directors, officers and other insiders are subject to voluntary lock-ups and/or escrow provisions under the policies of the TSX Venture Exchange, extending up to 18 months from the Qualifying Transaction completed on November 10, 2025.
Appointment of Market Maker
Elevate also announces that it intends to enter into a market making services agreement (the "Agreement") with DS Market Solutions Inc. ("DSMS") to enhance trading liquidity. Under the Agreement, DSMS will provide market making services on behalf of the Company during the term of the Agreement. In consideration for providing the market making services, the Company will pay to DSMS a monthly fee of $5,000 during the term of the Agreement. DSMS does not own, directly or indirectly, any interest in or common shares of the Company or have any right, directly or indirectly, to acquire any interest in or common shares of the Company. The initial term of the Agreement is one month, subject to monthly renewal at Elevate's option. The Agreement remains subject to approval from the TSX Venture Exchange.
Elevate Service Group Inc.
Elevate is a national facilities management and essential commercial services platform focused on consolidating and modernizing this fragmented sector. Through its operating companies, Elevate brings over 20 years experience as a trusted partner for national, blue-chip customers. Elevate's strategy is to integrate a portfolio of profitable operating businesses across a scalable, national platform with shared infrastructure, technology integration, and operational synergies. The result is superior customer outcomes, more comprehensive services and expanded market reach. Elevate trades on the TSX Venture Exchange under the ticker "SERV".
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates, and projections as of the date of this news release. Any statement that discusses the proposed acquisition and its expected closing date, and other predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance (often but not always using phrases such as "expects", "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budgets", "schedules", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events, or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.
In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that regulatory approvals for the proposed acquisitions will be received. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: failure to receive regulatory approvals for the proposed acquisition; and general business, economic, competitive, political, and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information, or otherwise.
For further information, please contact:
Elevate Service Group
Paul Bissett, CEO
Frank Guo, CFO
info@elevateservicegroup.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Elevate Service Group Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279389
Source: Elevate Service Group Inc.
