Pathfinder Ventures Announces Definitive $4.2 Million Refinancing to Unlock Growth and Strategic Flexibility
VANCOUVER, BC / ACCESS Newswire / February 18, 2026 / Pathfinder Ventures Inc. (“Pathfinder” or the “Company”) (TSXV:RV) announces that on January 27, 2026, it executed definitive mortgage documentation to refinance its Parksville RV Resort property located at 380 Martindale Road, Parksville, British Columbia.
The refinancing provides for a total mortgage facility of $4,200,000. The property was recently appraised at $7.134 million. The 1st mortgage bears interest at Prime plus 5.5%, has a maturity date of January 31, 2027, and provides for interest-only monthly payments during the initial 12 months.
Closing is expected to occur as soon as possible, subject to customary closing conditions, including receipt of payout statements and discharge documentation from the existing lender. The loan is secured by customary mortgage security over the property and may be prepaid without penalty, subject to minimum interest thresholds.
Proceeds from the refinancing will be used to retire the Company’s existing Parksville mortgage.
Strategic Impact of Refinancing
The existing Parksville mortgage contains several restrictive covenants, including lender approval rights over corporate debt issuances and rights of first refusal over Company assets. In particular, the prior lender’s approval rights over corporate indebtedness limited Pathfinder’s ability to pursue acquisitions or new project opportunities involving debt components.
Upon closing of the new facility, the restrictive provisions will be removed, restoring greater strategic flexibility at the corporate level.
Importantly, the new lender has expressed interest in supporting Pathfinder’s evaluation of a potential RV lot sales strategy at the Parksville property. The resort currently contains 129 RV sites. Based on preliminary management estimates and observed pricing in comparable markets, RV lots in similar resort communities have achieved sales prices in the range of approximately $90,000 to $110,000 per site.
If implemented, and assuming average sales pricing of approximately $100,000 per lot, a fully executed lot sales program could represent potential gross proceeds of more than $12 million.
Any such initiative remains subject to approvals, lender consent, market conditions, absorption rates, and other customary risks. There can be no assurance that a lot sales program will be undertaken or that estimated pricing or gross proceeds would be realized.
Update on Westside Modular Home Park
The Company currently holds a 5% ownership interest in the Project and continues working toward increasing its ownership consistent with prior public disclosure. Pathfinder plans to revisit the structure and commercial terms of its expanded participation in collaboration with the Project’s owner.
To date, infrastructure has been installed for 30 modular home lots, two homes have been constructed and delivered with families now residing on site, and a total of six homes have been sold, representing more than $4 million in revenue for Westside Modular Home Park. The combination of completed infrastructure, home deliveries, and committed sales reflects continued project momentum as the community transitions from early-stage development toward broader occupancy and long-term build-out.
Outlook
Following the anticipated closing of the Parksville refinancing, Pathfinder intends to place greater focus on advancing its low-cost and attainable housing initiatives, including modular home developments such as The Views.
With improved financial flexibility and fewer structural restrictions, the Company believes it will be better positioned to allocate capital and management attention toward scalable modular housing opportunities and long-term value creation.
On behalf of the Board of Directors of the Corporation:
Joe Bleackley
Chief Executive Officer, Director
Pathfinder Ventures Inc.
Company Contact:
Joe Bleackley
Chief Executive Officer, and Director
Phone: (604) 914 2575
Email: ir@PathfinderVentures.ca
Websites: PathfinderVentures.ca | PathfinderCampResorts.com
