09:02 AM EDT, 05/27/2025 (MT Newswires) -- Tribe Property Technologies ( TRPTF ) on Tuesday said it will acquire Ace Agencies, a residential single unit rental property management firm based in Abbotsford, British Columbia, for $1.5 million.

The price includes $1.1 million payable in shares priced at $0.55 apiece, and $400,000 in shares payable one month after the first anniversary of the closing date, which is expected June 2.

Tribe expects the deal to enhance its single-family home rental portfolio, increasing it by 275% and effectively tripling the company's footprint in the rental property management sector.

"This acquisition approximately triples our single-unit rental portfolio and strengthens our presence in the rental market, a natural extension for many of our clients who already own investment properties in the buildings we manage," Tribe CEO Joseph Nakhla said. "By expanding our single-unit rental management services, we better position ourselves to support the goals of our incredibly diverse client base."