TORONTO, Jan. 30,
2024 /CNW/ - Pineapple Financial Inc. (NYSE American:
PAPL), a tech-focused mortgage brokerage with an integrated network
of partner brokerages and agents across Canada, today announced it
has established two offices in Winnipeg, Manitoba, marking a significant
milestone in the company's expansion strategy across Canada.
According to Pineapple, the Manitoba market holds significant growth
potential, particularly in Winnipeg, the most affordable housing market
among the seven largest cities in the country. The newly
established office locations are anticipated to yield over
$100 million in new mortgage
originations within the next twelve months.
Leading the Pineapple National branded office located at 267
Mountain Avenue in Winnipeg is
Marilyn Magtoto and her team of
experienced brokers who recently transitioned from other networks.
With over two decades of experience in the banking and mortgage
industry and a recent move to Pineapple from RBC in 2023, Ms.
Magtoto stated, "What sets Pineapple apart is not only its
technology but also its support - no other company has advocated
for me in the same way or actively championed my success."
Ms. Magtoto added, "The move was also a strategic step towards
enhancing our client and partner relationships. The location on
Mountain Avenue, marked by the prominent Pineapple National sign,
is a key intersection offering great visibility and easy
accessibility for our clients citywide. The other tenants in the
building have become partners in our success, driving additional
traffic to our business and contributing to our revenue growth as
complimentary service providers."
Spearheading the other new office at 196 Osborne Street in
Winnipeg is 18-year banking and
mortgage industry expert Jan Reyes,
who also transitioned to Pineapple from CIBC last year, bringing a
wealth of experience and a growing team of seven brokers. Mr. Reyes
stated, "Our office is owned by Realtors and located in a bustling
area with heavy foot traffic. This unique setup positions us as
their in-house mortgage team for their client's needs, creating a
distinctive advantage to increase our revenue potential."
Anticipating a booming Manitoba
market in 2024, Mr. Reyes said he plans to stand out and drive
success by leveraging Pineapple's new AI tools and delivering
education-focused marketing campaigns to prepare clients ahead of
the market shift to seize opportunities at the right time.
Pineapple chief strategy officer Christa
Mitchell added, "With decades of experience in this region,
Marilyn and Jan are the ideal mortgage professionals to spearhead
our efforts in this promising market. Their proven track record and
understanding of the local landscape will allow them to capitalize
on Manitoba's growth potential and
deliver exceptional value to our clients."
Pineapple Financial is headquartered in Toronto, Ontario, with offices in six
provinces across Canada housing
approximately 700 brokers.
About Pineapple
Financial:
Pineapple is an award-winning fintech and leading Canadian
mortgage brokerage network, focusing on both the long-term success
of agents and brokerages, as well as the overall experience of
homeowners. With approximately 700 brokers within the network,
Pineapple creates cutting-edge cloud-based tools and AI-driven
systems to enable its brokers to help Canadians realize their dream
of owning a home. Pineapple is active within the community and is
proud to sponsor charities across Canada to improve the lives of fellow
Canadians.
Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
Safe Harbor Forward-Looking Statements
Certain
statements in this announcement are forward-looking statements.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on the Company's current
expectations and projections about future events that the Company
believes may affect its financial condition, results of operations,
business strategy and financial needs. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "is/are likely to," "potential," "continue" or
other similar expressions. The Company undertakes no obligation to
update or revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations that arise after the date hereof, except as may be
required by law. These statements are subject to uncertainties and
risks including, but not limited to, the uncertainties related to
market conditions and the completion of the initial public offering
on the anticipated terms or at all, and other factors discussed in
the "Risk Factors" section of the registration statement filed with
the SEC. Although the Company believes that the expectations
expressed in these forward-looking statements are reasonable, it
cannot assure you that such expectations will turn out to be
correct, and the Company cautions investors that actual results may
differ materially from the anticipated results and encourages
investors to review other factors that may affect its future
results in the Company's registration statement and other filings
with the SEC. Additional factors are discussed in the Company's
filings with the SEC, which are available for review
at www.sec.gov.
Related Links:
https://gopineapple.com
http://empoweredbypineapple.com
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SOURCE Pineapple Financial Inc.
