Elevate Service CFO Brar resigns, hires market-maker

Executive Summary

• Elevate Service Group confirms that two previously announced acquisitions (a security solutions provider and an electrical services business) remain on track for completion in January 2026, with integration planning underway.
• Frank Guo has been appointed as interim CFO effective January 5, 2026, following the departure of Harjit Brar, who also resigned from the board of directors.
• The company announced that insiders have purchased 77,800 shares since December 2, 2025, and intends to engage DS Market Solutions Inc. as a market-maker for a monthly fee of $5,000, subject to TSX Venture Exchange approval.

Key Details

• Acquisition Timeline: The proposed acquisitions of a security solutions provider (announced Nov. 19, 2025) and an electrical services business (announced Nov. 26, 2025) are scheduled to close in January 2026.
• CFO Transition: Frank Guo appointed as interim CFO effective Jan. 5, 2026. He holds an MBA from Ivey School of Business, is a CPA, and a CFA charterholder.
• Board Resignation: Harjit Brar resigned from the board of directors effective Jan. 5, 2026.
• Insider Purchases: Directors and officers collectively purchased 77,800 common shares in the open market between Dec. 2, 2025, and the date of the release.
• Insider Ownership: Directors, officers, and other insiders collectively hold 16,639,800 common shares, representing 49.5% of total common shares outstanding.
• Lock-up Provisions: All insider shares are subject to voluntary lock-ups and/or escrow provisions under TSX Venture Exchange policies, extending up to 18 months from the qualifying transaction completed on Nov. 10, 2025.
• Market-Making Agreement: Elevate intends to enter an agreement with DS Market Solutions Inc. (DSMS) to provide market-making services.
• Market-Maker Fees: The company will pay DSMS a monthly fee of $5,000.
• Market-Maker Terms: The initial term is one month, subject to monthly renewal at Elevate's option. The agreement is subject to TSX Venture Exchange approval. DSMS holds no interest in the company.

Notable Quotes

• "We are pleased to welcome Mr. Guo to Elevate, bringing significant financial leadership and capital markets expertise to the team. We thank Mr. Brar for his service and contributions, particularly his role in leading the company's financial reporting, audit readiness and transition to public company status in connection with the qualifying transaction." — Paul Bissett, CEO