Toronto, Ontario–(Newsfile Corp. – December 15, 2020) – Universal PropTech Inc. (TSXV: UPI) (the “Company“, “UPI“) is pleased to announce that, subject to the receipt of approval by the TSX Venture Exchange (“TSXV“), it has retained Generation IACP Inc. (“Generation“) to provide market making services with the view to enhance the liquidity of and maintain a reasonable market for UPI’s common shares.
Pursuant to the agreement with Generation and the Company (the “Agreement“), the Company has agreed to pay Generation an initial fee of C$7,500 plus any applicable taxes, per month. Generation will not receive any other remuneration for its services by the Company. Generation currently does not own any securities of UPI; however, Generation and its clients may acquire a direct or indirect interest in the securities of the Company from time to time.
Generation and UPI act at arm’s length and are unrelated and unaffiliated entities. Generation is a member of the Investment Industry Regulation Organization of Canada and a member firm of the Toronto Stock Exchange and the TSX-V. The initial term of the Agreement is six months, and such term will automatically be renewed for subsequent six month periods unless terminated by the Company by providing 30 days prior written notice to Generation. Notwithstanding the foregoing, Generation has the right to terminate the Agreement at any time upon prior written notice to UPI.