Edmonton, Alberta - TheNewswire – December 22nd, 2021 – Yorkton Equity Group Inc. (“YEG”, the “Company” or “Yorkton”) (TSXV:YEG) is pleased to announce that after completing a thorough due diligence and evaluation process, the Company has removed all buyer conditions on two properties with respect to the acquisition of a 21 unit townhouse project, Canterbury Estates, located at 8408 92 Avenue, Fort St. John, British Columbia, and a 12-unit apartment building, Midtown Apartments, located at 9827 97 Avenue, Fort St. John, British Columbia. Both of these properties are located in strategic locations near major shopping centers and all city amenities.

Canterbury Estates

There are 5 buildings comprising of 21 freehold strata units situated on 1.39 acres of land zoned RM-1. Built in 2020, each unit is a 2-storey townhome with 3 bedrooms and 2 bathrooms, and with an attached front drive single garage, in-suite laundry, forced air furnaces and hot water tanks. Tenants are responsible for utilities as the units are individually metered. With the low operating costs, historically low vacancy in the property, the asset is expected to yield a capitalization rate of approximately 6.4%. Conventional financing has been approved at an interest rate of approximately 3% per annum. Upon closing of the acquisition, the Company may consider placing long-term CMHC mortgage financing at a lower interest rate on the property. The transaction is scheduled to close on or about January 31, 2022 with Yorkton’s unencumbered cash reserve fund. Detailed terms of the purchase will be released after closing.

Midtown Apartments

This is a 12-unit apartment with a suite mix of 6 two-bedroom, 5 one-bedroom and 1 bachelor suites. Built in 1979, this 3-level low rise is situated on a 12,000 square feet of land zoned RM-2 for medium to high density. The asset is expected to yield a capitalization rate of approximately 7%. Conventional financing has been approved at an interest rate of approximately 3% per annum. Upon closing of the acquisition, the Company may consider placing long-term CMHC mortgage financing at a lower interest rate on the property. The transaction is scheduled to close on or about January 31, 2022 with Yorkton’s unencumbered cash reserve fund. Detailed terms of the purchase will be released after closing.

Ben Lui, President and CEO of Yorkton remarked “Further to our successful closing of our acquisitions in Kelowna, Langford (Victoria), and Penticton British Columbia, we are continuing with our acquisitions in the Fort St. John area consistent with our secure, aggressive growth business model. Both properties are in good condition, close to full occupancy, and are excellent cashflow properties with an attractive spread between the mortgage rates and capitalization rates, which are exactly in line with our business model of building a growing portfolio of cash flowing multi-family rental assets with significant upside potential in strategic markets”.

The Company has completed extensive research on the Fort St. John multi-family rental market and has determined it to be a market with significant upside potential based on strong population in-migration and job market growth, consistent with our business model for property acquisitions. Fort St. John is the second-largest city in northern B.C. and has a diversified economy with oil and gas, forestry, agriculture, manufacturing, and mining operations. Known as the “energetic city”, Fort St. John has a young and vibrant population with a median age of 31 years, and boasts the highest average household income in all of B.C.

Fort St. John is a city located in northeastern British Columbia in the Peace River Regional District, it is the hub for natural gas extraction in northern BC, which has one of the largest reserves of natural gas in the world and is the principal long-term beneficiary of the $40 billion LNG Canada liquefied natural gas (LNG) project which is now under construction. The region has some of the largest gas fields in North America with over 20,000 wells drilled. It is also the major staging area for the TransCanada’s Coastal GasLink (CGL) pipeline that will be run 670 kilometres from the northern gas fields to the LNG Canada terminal at Kitimat for LNG shipment to Asian markets. According to the Coastal GasLink, the construction progress of the CGL pipeline as of December 2021 is 46.6%. Fort St. John is also an economic hub of the North Peace area, which produces 90% of B.C.’s grain, 38% of its hydroelectric power, and plays host to over 300,000 tourists each year. According to the Community Profiles Statistics Canada Census, the City has experienced a steady population growth of 15.8% between 2006 and 2016, almost double that in the Peace River Regional District of 8%, and it is projected a 2.2% annual population growth between 2020 and 2025.

About Yorkton

Yorkton Equity Group Inc. is a fully integrated, growth-oriented real estate investment company committed to providing shareholders with growing assets, and stable income through the accretive acquisitions, organic growth, and the active management of multi-family rental properties with significant upside potential. Our geographical focus is in primary and secondary markets across Canada with diversified, growing economies, and strong population in-migration, with an initial focus in British Columbia. Our business objectives are to achieve stable Net Operating Income (NOI) and growing Net Asset Value (NAV) in our multi-family rental property portfolio by deploying a risk averse business model to create the ultimate value proposition for our shareholders. Yorkton Equity Group Inc. is built on the solid foundations of the Yorkton Group of companies with strong financial capacity, and well over 30 years of real estate experience.

Further information about Yorkton is available on the Company’s website at www.yorktonequitygroup.com and the SEDAR website at www.sedar.com.

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.

For further information on Yorkton, please contact:

Ben Lui, CEO - Corporate Office: (780) 409-8228

Yorkton Equity Group Inc. - Investor Relations: (780) 907-5263

Email: investors@yorktongroup.com

Forward-looking information

This press release may include forward-looking information within the meaning of Canadian securities legislation concerning the business of Yorkton. Forward-looking information is based on certain key expectations and assumptions made by the management of Yorkton. Although Yorkton believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Yorkton can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Yorkton disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirement