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VANCOUVER, BC, March 9, 2022 /CNW/ – Tribe Property Technologies (TSXV: TRBE) (OTCQB: TRPTF) (“Tribe” or the “Company”) has partnered with TUT Fitness Group (TSXV: GYM) (Frankfurt: 7PG) (“TUT”), a Canadian manufacturer of high performance, affordable fitness products, to bring revolutionary functional strength and cardio training products to residents across the country.
The partnership will take place in three phases: installation of TUT Fitness exercise equipment in designated Tribe buildings; expansion to integrate TUT’s Training Videos and Training Ambassadors into Tribe’s online community management portal, Tribe Home; and ultimately resulting in a TUT/Tribe product bundle for developers of new build residential housing.
“With the growing popularity of home fitness, TUT offers a refreshing, inexpensive and compact approach to strength and cardio training with digital apps that bring wellness into your home,” said Tribe’s CEO. Joseph Nakhla. “This partnership supports our goal of simplifying community life and improving the daily lives and health of residents in our communities.”
Global awareness of the importance of health and wellness continues to strengthen the fitness market, with Canada see year-over-year growth, recorded at an 8% increase in 2021. The average gym membership costing between $40–$60 per month, Canadians are looking for more affordable and convenient ways to stay in shape. A recent study found that up to 77% of Canadians say it’s more convenient to exercise in the comfort of their own home, with 84% saying that creating their own schedule and working out their pace are their preferred fitness option.1
“Our goal is to bring the highest level gym experience to every home by offering the most affordable and effective strength training and cardio solutions,” commented the CEO of TUT. Robert Smith. “Teaming up with Tribe not only allows us to reach individual residents, but also developers of new buildings, Strata and Condo councils looking to purchase units for their complex, and owners looking to replace aging equipment. . Our products are designed to provide complete workouts using a sleek system that can fit into tight spaces, perfect for multi-person apartment buildings.”
Tribe manages approximately 40,000 housing units with over 100,000 residents. The Company’s proprietary community management software, Tribe Home, is embedded in every community with its ability to connect, inform, educate and protect through the digitization and simplification of residential community living.. Property developers can find out more by visiting: https://tutfitnessgroup.com/tut-tribe-partnership.
About Tribe Partner Programs
Tribe receives compensation from partners for using the Tribe Home platform. The company’s partners are also committed to providing a special offer to Tribe landlords/tenants, allowing them to take advantage of Tribe’s group buying power.
The type and amount of compensation varies from partnership to partnership, but generally falls under one or a combination of the following models:
Commission: Tribe receives a one-time fixed or variable commission for each transaction made through its platform; and or
Residual/Recurring: After the initial transaction, the company receives ongoing revenue as long as the service remains in place.
About TUT Fitness Group
TUT is a Vancouver, Canadamanufacturer of high-performance and affordable fitness products. The company has designed, patented and manufactured one of the lightest (11.6 lbs) and most affordable home gyms in the world. Incorporated in 2018, TUT is an emerging player in the Home Gym and Fit Tech connected hardware space, targeting the US$10.73 billion Global home exercise equipment market2 and the online fitness market, which is expected to be US$30 billion by 20263.
TUT’s flagship TUT Trainer™ micro-gym uses patented stackable resistance band technology (TUT Plates™) to replace heavy metal weights, improve form and target every muscle group without adding pressure to joints or muscles. the tendons. With over 250 exercises, the multi-functional, portable gym also includes an optional TUT Rower™ and offers revolutionary functional and cardio training that raises the bar for personal home gyms.
About Tribe Property Technologies
Tribe is a real estate technology company digitizing the traditional property management industry. As a rapidly growing, technologically advanced property management company, Tribe’s integrated service technology delivery model meets the needs of more stakeholders than traditional service providers.
Tribe’s business is comprised of three revenue pillars: software and services (recurring licensing and management fees), transactional (lease or co-ownership fees, banking, rentals), and digital services and partnerships (smart building products , financial and insurance services) .
Tribe seeks to acquire highly accretive targets in North America’s fragmented property management industry and transform those businesses through streamlining and digitizing operations. Tribe’s platform reduces customer acquisition costs, increases retention, and enables the addition of value-added products and services through the platform. Visit tribetech.com for more information.
ON BEHALF OF COUNCIL
Chief Executive Officer
Tribe Property Technologies Inc.
Chief Executive Officer
1155 West Pender Street, Suite 419
Vancouver, British Columbia
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Caution regarding forward-looking information
This press release contains certain statements that constitute forward-looking statements or information under applicable Canadian securities laws, including statements relating to the intended use of the offering proceeds and the company’s objectives and strategy. . These forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors, some of which are beyond the Company’s control, which could cause actual results or events to differ materially from those stated, anticipated or implied. in forward-looking statements. research statements. These risks and uncertainties include changes in applicable laws or the regulatory sphere in which the Company operates, general economic and financial market conditions and stock market volatility. Although the Company believes that the forward-looking statements contained in this press release are reasonable, they are based on factors and assumptions, based on currently available information, regarding future events, which may prove to be inaccurate. As such, readers are cautioned not to place undue reliance on forward-looking statements, as no assurance can be given as to plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to publicly update or revise any of the statements. forward-looking, whether as a result of new information, future events or otherwise.
SOURCE Tribe Property Technologies Inc.
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