Pathfinder Closes on Expansion Property in Agassiz
VANCOUVER, B.C., April 13, 2022 – Pathfinder Ventures Inc. (TSXV: RV) (OTCQB: RVRVF) (the “Corporation,” or “Pathfinder.”) is pleased to announce that it has closed the transaction previously announced on December 14, 2021, involving the 1.892-acre property adjacent to its existing Pathfinder Camp Resort location in Agassiz B.C.
The Pathfinder Camp Resorts location in Agassiz is fully operational with 32 full hookup RV sites and 8 fully furnished cabins. The property was acquired in 2020 and underwent major renovations and improvements before opening under the Pathfinder Camp Resorts brand in May 2021.
Transaction Details
The purchase of the property is with an arms-length party to acquire a 100% interest in a 1.892-acre property adjacent to its existing Pathfinder Camp Resort location in Agassiz B.C. for an aggregate purchase price of $750,000 in cash (excluding closing costs).
Construction Timeline and Details
The acquisition may provide the Pathfinder Camp Resorts’ Agassiz B.C. location with up to 25 new,¬ full hookup RV sites. Once land-use applications are approved and rezoning is complete, Pathfinder will begin its redevelopment of the property. The company estimates the construction to begin Fall 2022 and the project to be completed later in 2023.
“This property offers significant growth potential for our newly renovated Pathfinder Camp Resort in Agassiz B.C. We have the staffing and amenities in place, so we will plan to develop most of the 1.892 acres into additional RV campsites offering full hook-up connections for our customers,” said Joe Bleackley, Founder and CEO.
About Pathfinder Ventures
Pathfinder Ventures Inc. is developing a network of branded, upscale and family-friendly RV parks and campgrounds under the “Pathfinder Camp Resorts” name. Pathfinder currently has three camp resorts located in B.C. and is focused on growing its network through both acquisitions and development. Pathfinder is also seeking to acquire RV & Self Storage facilities to take advantage of the rapidly growing market of people who want to experience the great outdoors in an RV.
On behalf of the board of directors of the Corporation:
Joe Bleackley
Chief Executive Officer, Founder and Director
Pathfinder Ventures Inc.
Company Contact:
Joe Bleackley – Chief Executive Officer, and Director
Phone: (604) 914 2575
Email: ir@PathfinderVentures.ca
Website: PathfinderVentures.ca
Investor Relations Contact:
Anthony Simone
Simone Capital Corp.
Phone: (416)-881-5154
Email: asimone@simonecapital.ca
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Information Cautionary Statement
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation’s expectations include risks detailed from time to time in the filings made by the Corporation with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Corporation does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release.
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