/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Aug. 18, 2021 /CNW/ - Kadestone Capital Corp.
("Kadestone" or the "Company") (TSXV: KDSX) (OTCQB:
KDCCF), a vertically integrated property company, is pleased to
announce that Kadestone (Kyle Road) Property Ltd., a subsidiary of
Kadestone, has agreed with Union Allied Capital Corp. to sell
Building 1 - 2648 Kyle Road, Kelowna,
BC: Strata Lots: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13,
14, 15, 16, 17, 18, 19 and 20 for $10,100,000 (the "Sale") in cash. The Sale
will be completed pursuant to a purchase and sale agreement and
will be subject to standard closing conditions including final
acceptance of the Sale by the Exchange. The closing of the Sale is
anticipated to occur on or about October 30,
2021.
About Kadestone
Kadestone was established to pursue the investment in,
development, acquisition, and management of residential and
commercial income producing properties within major urban centres
and high-growth, emerging markets in Canada. The Company
operates five complimentary business lines spanning building
materials procurement and supply, property development and
construction, construction finance, asset ownership, and property
management. These synergistic business lines have solidified
Kadestone's vision to become a market leading vertically integrated
property company. Additional information can be found
at www.kadestone.com.
ON BEHALF OF THE BOARD
(signed) "Brent Billey"
President, CEO and Director
Neither 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.
Cautionary Statement Regarding Forward- Looking Statements
Certain information in this press release, including, but not
limited to, statements regarding the Company's vision to
become a leading vertically integrated property company, may
constitute forward looking information (collectively,
forward-looking statements), which can be identified by the use of
terms such as "may," "will," "should," "expect," "anticipate,"
"project," "estimate," "intend," "continue" or "believe" (or the
negatives) or other similar variations. Because of various risks
and uncertainties, including the risk that the conditions to the
Sale may not be met, actual events or results may differ materially
from those reflected or contemplated in such forward-looking
statements. As a result, you should not rely on such
forward-looking statements. Additional information identifying
assumptions, risks and uncertainties relating to Kadestone is
contained in Kadestone's filings with the Canadian securities
regulators available at www.sedar.com. These risks include
those described in the "Risk Factors" section of the Company's
final prospectus dated September
2, 2020 and in the Management's Discussion and Analysis
for the years ended December 31, 2019
and 2020. The forward-looking statements in this press
release are applicable only as of the date of this release or as of
the date specified in the relevant forward-looking
statement.
SOURCE Kadestone Capital Corp.