Pathfinder Achieves Full Capacity Across Portfolio Over Long Weekend
Pathfinder Ventures announced full occupancy across all three Pathfinder Camp Resorts—Parksville, Fort Camping, and Agassiz - Harrison—during the Canadian May long weekend. This significant milestone highlights Pathfinder's growing popularity in the RV space, recognized as a top choice by Campspot. Additionally, Pathfinder proposed an extension to convertible debt holders, maintaining a 10% interest rate until March 2026, with renewal fees of 2% and 3% payable in cash for subsequent periods. CEO Joe Bleackley expressed gratitude towards debenture holders for their support and confidence in the company’s growth plans.
- Achieved full occupancy across all Pathfinder Camp Resorts during the Canadian May long weekend.
- Recognition as a top choice for campers by Campspot.
- Proposed extension of convertible debt holders with no early payout penalty, maintaining a 10% interest rate.
- CEO's confidence in executing growth plans and rewarding debt and equity holders.
- Renewal fees of 2% due March 2025 and 3% due March 2026 may add financial burden.
- Convertible debt extension suggests reliance on debt financing, indicating potential liquidity issues.
VANCOUVER, BC / ACCESSWIRE / May 22, 2024 / Pathfinder Ventures Inc. (TSXV:RV) ("Pathfinder" or the "Company") is pleased to announce that the company has achieved full occupancy across all assets during the Canadian May long weekend.
Pathfinder Achieves Full Occupancy Across Entire Portfolio Over Long Weekend
Pathfinder is proud to announce the achievement of full occupancy across all three Pathfinder Camp Resorts in the portfolio during the past long weekend. Parksville, Fort Camping, and Agassiz - Harrison locations experienced a surge in demand from campers seeking a Pathfinder resort getaway. As an award-winning brand recognized by Campspot, Pathfinder resorts have become a top choice for campers nationwide. This milestone represents another significant achievement for Pathfinder as the company continues to expand its presence in the RV space and prepares to manage new assets in the future.
Stan Duckworth, COO of Pathfinder, commented, "May long weekend is always a great kickoff to the spring and summer camping season and it's great to know we are the resort of choice for families and guests across the country."
Pathfinder Proposes Extension to Convertible Debt Holders
Pathfinder and its debenture holders have been in discussions and the Company has made a proposal to extend the maturity date (the "CD Extension"). The proposal includes the following terms:
- Current
10% interest rate to remain in place and accruing until March 2026 2% renewal fee due March 2025 and payable in cash for March 2024-2025 period3% renewal fee due March 2026 for March 2025-2026 period, payable in cash- No early payout penalty
Joe Bleackley, CEO and Founder commented, "I thank our debenture holders sincerely for their support, patience, and flexibility to offer Pathfinder such strong renewal terms. I am excited to execute on our growth plans and reward all our debt and equity holders in due time."
About Pathfinder Ventures Inc. (TSXV:RV):
Pathfinder Ventures Inc. is a leading provider of premium RV camping experiences, committed to delivering exceptional hospitality and modern amenities to outdoor enthusiasts. With a portfolio of strategically located resorts, Pathfinder offers unparalleled opportunities for memorable RV vacations.
To learn more about Pathfinder Camp Resorts, click the link below:
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 || PathfinderCampResorts.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. 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 statement related to Pathfinder's board of directors. 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.
In the case of RV, this news release includes certain "forward-looking statements" which are particular to RV and are not comprised of historical facts. Forward-looking statements include estimates and statements that describe RV's future plans, objectives or goals, including words to the effect that RV or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to RV, RV provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, RV's objectives, goals or future plans, statements, and refinancing and funding. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the ability of the RV to successfully implement its development strategy and whether this will yield the expected benefits; competitive factors in RV's industry sector; the success or failure of product development programs; currently existing applicable laws and regulations or future applicable laws and regulations that may affect RV' s business; decisions of regulatory authorities and the timing thereof; Covid-19 related risks, availability of properties; the economic circumstances surrounding RV's business, including general economic conditions in Canada, the US and worldwide; changes in exchange rates; changes in the equity market; inflation; uncertainties relating to the availability and costs of financing needed in the future; and those other risks disclosed in the filing statement or other disclosure document prepared and supplied on Sedar. Although RV believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. RV disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Pathfinder Ventures Inc.
View the original press release on accesswire.com
FAQ
What did Pathfinder Ventures achieve during the May long weekend?
What locations experienced full occupancy for Pathfinder Ventures?
What is the interest rate in Pathfinder Ventures' proposed convertible debt extension?
What are the renewal fees in Pathfinder Ventures' proposed convertible debt extension?
Who commented on Pathfinder Ventures' recent achievements and proposals?
