Star Metro - Findev Inc. Announces a New Member of the Board of Directors

Mr. Jacobs is the President of Towncorp Development Inc. ("Towncorp"). Towncorp owns and is involved in the development of commercial and residential real estate in and around the GTA. Towncorp has participated in the development of over 1,500 residential units in the GTA. Previously, Mr. Jacobs was a member of Credit Suisse First Boston's ("CSFB") Principal Transactions Group. Based in NYC, the Principal Transactions Group ("PTG") was the largest bank fund of its kind, with US$24 billion under management. PTG's mandate encompassed all areas of real-estate investing and lending activities, including the acquisition and sale of assets, joint ventures with both public and private real estate companies, loan origination and the first CMBS mortgage pass-through transactions. While at CSFB, he participated in the underwriting, origination and securitization of over US$1 billion in assets.

Mr. Jacobs has been appointed to the Company's Audit Committee, joining Devon Cranson and Sruli Weinreb. All committee members are financially literate, and Mr. Jacobs and Mr. Cranson are independent directors.

The Company also announces the resignation of Mr. David Roff, CPA, CA, and Mr. Brice Scheschuk, CPA, CA, effective May 11, 2026, respectively. Both directors have stepped down to pursue other interests after contributing significantly to the Company's transition in 2016 from a technology business to a real estate finance company.

The Board wishes to express its sincere gratitude to both Mr. Scheschuk and Mr. Roff for their significant contributions to Findev and wishes them continued success in their future endeavours.

A note from Sruli Weinreb, CEO:

"On behalf of the entire Findev team, I want to express my deepest appreciation to Brice and David for their many years of dedicated service on our Board. Since the very founding of Findev as we know it today, both Brice and David have been invaluable partners - bringing their extensive financial expertise, sound judgment, and unwavering commitment to the company's mission and growth. Their contributions have helped shape Findev into the organization it is today, and their fingerprints are on so much of what we have built together. We are truly grateful for everything they have given to this company, and I personally wish them nothing but the very best in all that lies ahead."

About Findev

Findev is a publicly traded real estate finance company focused on financing real estate developers with shorter-term loans for one to five years during the development or redevelopment process. Loans are secured by investment properties and real estate developments throughout the Greater Toronto Area. Findev's unique market advantages include its expertise in real estate development and access to its real estate development partners. As a result, Findev is uniquely suited to assist developers engaged in challenging projects. For further information, please visit Findev's website at www.findev.ca.

On behalf of the Company,

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.

# # #

Forward-Looking Statements

Certain statements in this document may constitute "forward-looking" statements, which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use words like "may", "will", "expect", "continue", "believe", "plan", "intend", "would", "could", "should", "anticipate" and other similar terminology. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date of this document. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the "Risk Factors" section of the Corporation's the most recently filed Annual Report which is available on SEDAR at www.sedar.com

Although the forward-looking statements contained in this document are based upon what we believe are reasonable assumptions, we cannot assure investors that our actual results will be consistent with these forward-looking statements. We assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities law.

SOURCE: Findev Inc.

View the original press release on ACCESS Newswire

V.Watson--SMC