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Volatus Aerospace Suspends Strategic Investment in Delta Drone SA

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV:VOL) (OTCQB:VLTTF) ("Volatus" or "the Company") announced today that it has suspended the plan to make a strategic investment in Delta Drone SA that was previously announced on March 3 rd, 2022. Commenting on the decision, Glen Lynch, CEO of Volatus said “As the due diligence activity was being carried out it was apparent that some aspects of the transaction were not positioning well for the planned Volatus activity. Coupled with the unprecedented turmoil caused by the Russian invasion of Ukraine and resulting volatility in European markets, timing for pursuit of such an investment no longer made sense for Volatus”. The two companies have agreed to continue exploring opportunities to work together for each other’s mutual benefit. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, and Latin America. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Information This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Volatus Aerospace Corp Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

April 23, 2022 11:12 AM Eastern Daylight Time

Wrapped Hotels NFT: Pioneering the fractional real-estate scene of the Metaverse

Wrapped Hotels

Wrapped Hotels is an NFT project announcing its upcoming Genesis Launch of 999 hotel rooms on the 28 of April. The multifold growth of metaverse over the past few years has been intriguing. And rest assured that this growth isn’t slowing down any time soon. By 2026, 25% of the people shall spend at least one hour daily in the metaverse, reports Gartner. This brings an opportunity for all to make money in the virtual wave. Individuals, as well as businesses, shall improve their income by building metaverse products. Moreover, about 30% of the businesses shall have metaverse products and services ready by 2026. Therefore, investing and earning in the metaverse is an exciting opportunity, especially if you are up for a long-term game. One of the key investment opportunities in the metaverse is real estate. As per a report, the metaverse real estate was valued at $0.5 billion which is expected to double i.e., $1 billion in 2022. Currently, 4 players are ruling the metaverse real estate market namely The Sandbox, Decentraland, Cryptovoxels and Somnium. The Sandbox rules the market with 62% market share followed by Decentraland with 34%. The Cryptovoxels and Somnium have a combined market share of 4%. Another report predicts, that for the next six years the metaverse real estate to grow at a CAGR of 31%. How Wrapped Hotels Will Change the Metaverse Real Estate? At present, the metaverse real estate has options for buying land, homes and workplaces. After hanging out in one place for a long time you may feel monotony. Moreover, if you want to earn income from it, you’ll have to find a person who wishes to buy or rent your place. Here come Wrapped Hotels to your rescue. If you want to know how? Let me elaborate. Wrapped Hotels is a digital hotel with each room having unique features. The project has a supply of 10,000 rooms. Further, each room has three categories for use. One of the categories is rooms, accounting for 95% of the total supply. The remaining 5% supply comprises lounges and reception desks. The project uses ‘The Sandbox’ metaverse for its’ virtual chain of Hotels. The project allots to each of its NFT holders to a deed of ownership for a room located in The Sandbox metaverse. Similar to a real-world hotel, users can rent their rooms and generate a passive income. Coming to the ambience of the rooms that are out of this world (pun intended). The project team has worked hard on the aesthetics of the room by providing over 200 jaw-dropping furniture models (traits). Also, the furniture well caters to the utility of the room. The other aspect is that no two rooms are alike and hence an element of surprise for the people renting a new room every time. How Do I Earn from Wrapped Hotels? This is a question worth asking once you have seen the mind-boggling design of the rooms. Consider, Wrapped Hotels a commercial real estate. To explain further, real-world commercial properties like hotels, malls, shops etc. attract people & businesses and in return generate income. The same is the case with this digital hotel. Initially, the project aims to crowdfund The Sandbox plot. The people crowdfunding the plot will get project NFT in return which will signify ownership of the room. As there will be 10,000 rooms, therefore each NFT will correspond to the 1/10,000 th part of the plots. Each owner shall have the liberty to monetise their part by organising events, showcasing an NFT collection, a virtual party etc. Other than this, the room owners will get additional 8% redistribution of secondary market sales royalties. This yield comes from the staking of rooms, and gets a multiplier in the form of a colour attribute; the colour of the walls represents the tower your room lies in. So, if you own multiple rooms in the same tower, you will get a higher return on investment. The ROI calculation doubles further if the rooms are on the same floor of a tower. Project Roadmap The Q1 of 2022 marks the start of the project. The Q1 shall commence with the community growth and exclusive raffles with NFT airdrops and prizes for whitelisted members. Upon reaching a sales milestone the room owners will get benefits. At 5% sales, 2 whitelisted members will get free NFTs room airdrops. The same giveaways will be conducted at 25%, 75% and 100% sales milestones. During the sale, the Wrapped Hotel team will launch a Merch store, organise giveaways, conduct paid promotions, and funds transfer to the community wallet. The Opensea royalties redistribution among the room owners will commence upon achieving 100% sales. The Q2 of 2022 will bring up the heat with land selection for hotel development in The Sandbox metaverse with the vote from room owners. This will be done by the mean of a community vote regarding the choice of lands where the Wrapped Hotels will be located on. Upon acquisition of the land, the French VoxEdit design team will import the rooms and buildings to give you an awesome experience. Upon full integration of the hotels, they will be ready for the grand opening featuring famous artists (think SnoopDog or Deadmau5 ) and brands ( Gucci and Carrefour ) already metaverse based. In the third quarter of 2022, the room owners will be able to lend or rent their rooms via the Wrapped Bookings app. The lounge and reception area owners get a fee upon getting a booking in the hotel. The excitement and elements of surprise won’t stop here but will continue with the development of the Wrapped ecosystem. You will get to know about them through the Wrapped Hotel website and our loyal community on Discord. Genesis Sale: An Opportunity for Earning Greater Returns Wrapped Hotel is giving us an opportunity to participate in the Genesis pre-sale. There are 999 rooms available for sale. 10% of the Genesis room holders will further get lucky with a free NFT Airdrop during the public sale. Increased chances of minting rare NFTs i.e., lounge and Reception Desk. Increased redistribution rate as the overall room point allocation is higher on the Genesis Presale. Thus, a higher drop rate of rare rooms also means an higher passive income redistribution compared to the Public Sale one. Genesis room owners will get numerous giveaways of IRL resorts and hotel experiences. About Wrapped Hotels Wrapped Hotels is a collection of 10.000 unique and finely designed rooms.Holding any of these rooms will grant you access to the Wrapped ecosystem that will include an airdrop of its equivalent structure in the metaverse as well as a passive income stream from the first quarter. This 3D version will be part of our towers on The SandBox and yours to rent or party! Contact Details Wrapped Hotels Media Group wrappedhotels@gmail.com Company Website https://wrappedhotels.io/

April 22, 2022 12:43 PM Eastern Daylight Time

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SFAA Annual Meeting Highlights Landmark Legislative Wins and Accomplishments and Initiatives; Membership Elects Board

SFAA

The Surety & Fidelity Association of America (SFAA), a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry, held its annual meeting last week with more than 175 members and guests attending. John Welch, SFAA chair and president and CEO, CNA Surety, and Lee Covington, SFAA president and CEO, presided over the event each providing updates on SFAA’s accomplishments from the past year and ongoing initiatives. Welch opened the meeting by emphasizing how amazing it was to finally be back in person after 2 years of “Zoom” meetings and thanked members for their leadership and contributions to SFAA’s work. The SFAA Membership then elected the Board of Directors, adding two new members to the Board: Steve Lubin, President, Surety Division, Crum & Forster and Stephen Ruschak, Executive Vice President, Arch Surety. Covington provided updates on SFAA’s advocacy accomplishments and goals, SFAA PAC, and SFAA’s Strategic Priorities, in addition to the results from the 2022-Member Survey, which showed a dramatic increase in SFAA’s effectiveness in all categories since the 2019 Member Survey. A “Year in Review” video celebrating SFAA’s accomplishments throughout 2021 was shared, which included the 97-0 Senate vote on the SFAA TIFIA-bonding amendment to the bipartisan Infrastructure Investment and Jobs Act. The video also highlighted the successful launch of the SFAA and NASBP Contractor Bonding Education and Mentoring Program for minority and other disadvantaged or emerging contractors, as well as an update on a record year for the SFAA Foundation’s Intern and Scholarship Program for underrepresented college students, with 17 internships and scholarships awarded totaling $85,000. The winners of the 2021 Surety Industry Awards were announced via a celebratory video and those in attendance were invited to the stage to accept their award. Charlie Cook, a renowned political analyst, then took the stage and delivered an impactful keynote presentation, captivating the audience with his uncanny and deep insights into the current political landscape in Washington, D.C. and across the country. To end the meeting, two leading political and policy experts, Mike Nielson of CGCN Group and Kichelle Webster from Stewart Strategies, participated in an insightful “Inside the Beltway” panel discussion moderated by SFAA’s president and CEO Lee Covington. The Surety & Fidelity Association of America (SFAA) is a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry. Based in Washington, D.C., SFAA works to promote the value of surety and fidelity bonding by proactively advocating on behalf of its members and stakeholders. The association’s more than 425 member companies write 98 percent of surety and fidelity bonds in the U.S. For more information visit www.surety.org. Contact Details Peter Roth +1 703-401-0676 proth@surety.org Company Website https://surety.org/

April 21, 2022 12:34 PM Eastern Daylight Time

SFAA Elects Board of Directors, New Chair, and Officers

SFAA

The Surety & Fidelity Association of America (SFAA), a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry, held its Annual Meeting and Board of Directors meeting on April 14 and 15, 2022. During the Annual Meeting on Wednesday, April 14 th the SFAA membership elected the SFAA Board of Directors and during the Board of Directors meeting on Thursday, April 15 th the Board elected the Officers and Executive Committee Members: Officers and Executive Committee Members Robert Murray, SFAA Chair, Head of Surety, Zurich North America Robert Raney, SFAA Vice-Chair, Head of Construction Surety, Travelers Companies John F. Welch, SFAA Past-Chair, President & CEO, CNA Surety Group Rick Ciullo, Chief Operating Officer, The Hartford Insurance Group Mike Keimig, President & CEO, Markel Surety Corporation Timothy Mikolajewski, President, Global Surety, Liberty Mutual Group Stephen Ruschak, Executive Vice President Surety, Arch Insurance Group Other Elected Board Members Antonio C. Albanese, Head of Surety, Nationwide Mutual Insurance Company Ken Bearley, President – Bond Division, Great American Insurance Companies Ken Chapman, Executive Vice President – Surety, IAT Insurance Group Stephen M. Haney, Division President, North America Surety & CUO, Global Surety, Chubb Surety James Kawiecki, President of Surety, Hanover Insurance Group Matt Lubin, President, Surety Division, Crum & Forster Alan Pavlic, President/COO, Old Republic Surety Group Sarina Puccio, Head of Credit and Surety, Munich Reinsurance America, Inc. Michael Seff, Head of Surety, Intact Insurance Specialty Solutions Gary Stumper, National Surety Leader, Westfield Group Larry Taylor, President, Merchants Bonding Company Group The board welcomed newly elected board members Steve Lubin (Crum & Forster) and Stephen Ruschak (Arch Surety) and recognized outgoing board members Steve Anderson (Swiss Re) and Nancy Giordan-Ramos (Main Street America) for their outstanding service on the board and to the industry. The board also thanked John Welch for his leadership and contributions to the industry during his two years of service as SFAA Chair. The Surety & Fidelity Association of America (SFAA) is a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry. Based in Washington, D.C., SFAA works to promote the value of surety and fidelity bonding by proactively advocating on behalf of its members and stakeholders. The association’s more than 425 member companies write 98 percent of surety and fidelity bonds in the U.S. For more information visit www.surety.org. Contact Details Peter Roth +1 703-401-0676 proth@surety.org Company Website https://surety.org/

April 21, 2022 12:27 PM Eastern Daylight Time

PCMA Announces Continued Nationwide Expansion with the Addition of Wyoming to our Lending Footprint

PCMA

PCMA, the pioneer and leading voice in Non-Bank Private Client Lending, announces the expansion of our Private Client services to the state of Wyoming - Company NMLS ID: 237710. The expansion of Private Client Lending into Wyoming highlights the extraordinary growth of PCMA and the continued growth in the Wyoming luxury housing and ranching markets. 2021’s median sale price was $1.8MM, followed by a strong 2021 with total home sale prices just in the Jackson Hole market (the hottest realty market in the state) reaching $2.750,705,092. Jackson Hole’s leadership in million-dollar home sales is further solidified with over 853 transactions falling between $1 million and $3 million and one property selling for over $100MM. “Horseback riding, hiking at Grand Teton National Park, skiing, Yellowstone National Park, biking, wildlife viewing and a tax friendly status are some of the many reasons why the high and ultra-high net worth are buying homes and ranches in the beautiful state of Wyoming,” said John R. Lynch, CEO and Founder of PCMA. “Over 30% of all real estate sales happened without being recorded on the MLS, something that happens more often with higher end home and ranch sales. This is further proof of the need of Private Client lending services in Wyoming and throughout the US.” PCMA’s expansion into the Wyoming market comes on the heels of both internal and external growth of the company and new subsidiaries. PCMA continues to experience an unprecedented growth of high-net-worth originations at a record pace throughout the first half of 2022 even in the face of rising interest rates. Continued growth has come with the addition of PCMA Capital Advisors and the expansion of direct and indirect origination channels. “The Private Client community looks at luxury real estate as a safe and appreciating asset that's a hedge against inflation. Furthermore, our clients are interested prime properties which are few and far between in this market, creating a strong seller's market and a need for robust lending solutions that will bring these sales forward and into the credit markets,” said Lynch. “The Collective is a streamlined approach to asset-based lending without the need to collateralize or pledge vested holdings. These bespoke flexibilities were not available to the High-Net-Worth Communities of Wyoming prior to our expansion.” About PCMA PCMA is the leading Non-Bank Private Client lending organization serving the needs of their mass affluent and high net worth clientele. PCMA offers qualified individuals and institutions bespoke lending solutions across all major residential asset classes. PCMA is a diversified financial enterprise offering private client solutions through a direct to consumer and distributed retail business model. PCMA strives to build trusting and enduring relationships by putting clients and professional partners at the center of all they do. PCMA is headquartered in Orange County, CA. Additional information is available at www.pcma.us.com Forward-Looking Statements This release may contain “forward-looking statements,” which reflect the Company’s current views with respect to, among other things, its operations and financial performance. You can identify these statements by the use of words such as “outlook,” “anticipation”, “potential,” “continue,” “may,” “seek,” “approximately,” “predict,” “believe,” “expect,” “plan,” “intend,” “estimate”, “preparing” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would” and “could.” These forward-looking statements are based on current available operating, financial, economic and other information, and are not guarantees of future performance and are subject to risks, uncertainties and assumptions which are difficult to predict. Therefore, current plans, anticipated actions, financial results, as well as the anticipated development of the industry, may differ materially from what is expressed or forecasted in any forward-looking statement. The Company does not undertake any obligation to publicly update or revise any forward-looking statement to reflect future events or circumstances, except as required by applicable law. Contact Details PCMA Private Client Jason Jepson +1 949-394-7033 jason.jepson@pcma.us.com Company Website https://pcma.mortgage/

April 21, 2022 09:00 AM Eastern Daylight Time

Jacqueline Thompson Approaches Record Setting Sales Volume in Shady Canyon, Nearly 1 Billion SOLD

Jacqueline Thompson Group

As the number one agent at Surterre Properties, and one of the most highly regarded agents in Orange County, Jacqueline Thompson achieved a record year in 2021 with over $350 million sold. Beginning 2022 with her eye on the $1 Billion milestone for sales in the coveted enclave of Shady Canyon, Jacqueline set out to raise the bar for service and results, earning her high caliber listings from distinguished clientele. Entering the second quarter of 2022, with approximately $60 million sold year to date (with an additional $41 million in escrow), Jacqueline’s refined approach to real estate continues to be sought out by discerning buyers and sellers who desire a slice of the OC to call home. She began her career setting records in The Pelicans and in Newport Coast, and in 2021 she set many sales records from Canyon to Coast: Crystal Cove – sold one of the 25 highest priced homes sold in the OC in 2021, as recognized by the Orange County Business Journal Shady Canyon – sold the highest priced per square foot home in the community Pelican Point – sold the highest priced home in the community’s history, while also holding the title for the second highest sale in the community Corona del Mar – sold one of the highest price per sq. ft. homes since 2013 Dana Point – sold a vacant lot for the highest price in the city’s history Orange County – set the record for the highest price a vacant oceanfront lot has sold for in the county’s history “Arriving in Orange County with no connections in 2008 and beginning my career in real estate became the journey of a lifetime. I am immensely grateful for my loyal clientele and for the opportunity to represent the finest estates from Canyon to Coast.” –Jacqueline Thompson, REALTOR®, Surterre Properties “While many people can appreciate Jacqueline’s success today, I remember her arriving in Newport Beach with no family, friends or connections. She was armed with a will to succeed and it has been inspiring to watch her exceed expectations year over year. There is no secret to Jacqueline’s success – she is fastidious about her craft and is fiercely focused on working smart for each and every client.” - Gary Legrand, CEO and President, Surterre Properties About REALTOR® Jacqueline Thompson: From Canyon to Coast, REALTOR® Jacqueline Thompson and has been serving discerning clientele since 2008. Forging one of the most successful luxury residential real estate practices in Orange County, Jacqueline has a reputation for setting records with over $1.65 billion in career transactions. Specializing in estates within Shady Canyon, Newport Coast, Newport Beach and Laguna Beach, Jacqueline is known for her unparalleled market knowledge and unsurpassed first class service. Influential and respected, Jacqueline and her brand have become synonymous with excellence Contact Details Sterling Public Relations Paula Steurer +1 949-200-6566 concierge@sterlingpublicrelationsoc.com Company Website https://www.jacquelinethompsongroup.com

April 19, 2022 11:30 AM Pacific Daylight Time

PCMA Announces Continued Nationwide Expansion with the Additions of Illinois to our Lending Footprint

PCMA

PCMA, the pioneer and leading voice in Non-Bank Private Client Lending, announces the expansion of our Private Client services to the state of Illinois – Company NMLS ID: 237710. The expansion of Private Client Lending into Illinois highlights the extraordinary growth of PCMA and the continued growth in the Illinois luxury housing market. 2021 set a luxury home sales record with the sale 3,480 homes sold for a $1MM or more in the city of Chicago and the surrounding seven counties in 2021 according to Crain’s; an increase of almost 20% from 2020. More than 100 sold for $4MM or more in 2021, more than double sales in that price category from last year. “High Net Worth households have complicated and diverse estates, that are fueled by the economic growth in the stock market, making it no surprise to see the rapid uptick in ultra high net worth realty,” said John R. Lynch, CEO and Founder of PCMA. “At PCMA, we are honored to work with the distinguished Private Clients of Illinois, giving them access to credit services that celebrate their success without the friction of traditional lending.” PCMA’s expansion into the Illinois’ market comes on the heels of both internal and external growth of the company. PCMA continues to experience an unprecedented growth of high-net-worth originations at a record pace in 2022 even in the face of rising interest rates. “If you only focus on traditional mortgage channels, you will notice that luxury real estate has been mostly trading on all cash offers,” said Lynch. “Paying all cash for a luxury property is not ideal for the high net worth, so we created The Collective, a streamlined approach to asset-based lending removing the need to pay all cash, collateralize or pledge vested holdings. These bespoke flexibilities were not available to the High-Net-Worth Communities of Illinois prior to our expansion.” About PCMA PCMA is a vertically integrated Asset Origination and Convexity Management firm that specializes in Structured, Super Prime, Non-Agency, Private Client Credit. With its captive origination unit, PCMA has become the leading Non-Bank Private Client Lender in the U.S. What began as a linear venture has morphed into a vertical organization and industry leading incubator of ideas pushing the boundaries of innovation in high-capacity financial services. PCMA offers qualified individuals and institutions bespoke lending and advisory services across all major credit, and residential asset classes. PCMA is headquartered in Orange County, CA. Additional information is available at www.pcma.mortgage & www.pcma.us.com Forward-Looking Statements This release may contain “forward-looking statements,” which reflect the Company’s current views with respect to, among other things, its operations and financial performance. You can identify these statements by the use of words such as “outlook,” “anticipation”, “potential,” “continue,” “may,” “seek,” “approximately,” “predict,” “believe,” “expect,” “plan,” “intend,” “estimate”, “preparing” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would” and “could.” These forward-looking statements are based on current available operating, financial, economic and other information, and are not guarantees of future performance and are subject to risks, uncertainties and assumptions which are difficult to predict. Therefore, current plans, anticipated actions, financial results, as well as the anticipated development of the industry, may differ materially from what is expressed or forecasted in any forward-looking statement. The Company does not undertake any obligation to publicly update or revise any forward-looking statement to reflect future events or circumstances, except as required by applicable law. Contact Details PCMA Private Client Jason Jepson +1 949-394-7033 jason.jepson@pcma.us.com Company Website https://pcma.mortgage/

April 19, 2022 10:00 AM Eastern Daylight Time

NLPC Files Complaint Against Black Lives Matter With IRS Alleging Cover-Up And Misuse of $6 Million LA Mansion by BLM Founder Patrisse Cullors

National Legal & Policy Center

The National Legal and Policy Center (NLPC), an ethics watchdog group, filed a 9-page complaint today with the IRS demanding that it immediately conduct a full investigation of Black Lives Matter Global Network Foundation (BLMGNF) and Patrisse Cullors, its founder and former Executive Director, for violating IRS rules prohibiting the use of nonprofit assets for private benefit, self-dealing, conflicts of interest, unlawful political fundraising, and other misconduct and assess appropriate civil or criminal penalties. NLPC’s complaint cites explosive news reports revealing that a $6 million luxury mansion was purchased by BLMGNF in October 2020 shortly after it received $66 million from its sponsor, which raised funds for it, but kept the purchase secret until now. NLPC also cites internal text messages by BLM conspiring to come up with a cover-up story of why the mansion hasn’t been publicly disclosed for the last 17 months. The complaint also shows photos of Patrisse Cullors using the mansion in 2021 for a cooking show she posted on her personal YouTube channel and a video of Cullors and two of her associates enjoying a fancy lunch on the patio and sipping sparkling wine while they chat about the problems of being Black activists. Cullors response? Complying with IRS disclosure rules for nonprofits is “triggering” and causes “trauma” to her and her fellow Black activists and that no cares about disclosure anyway. “NLPC believes that its complaint will ‘trigger’ a full IRS audit and investigation into BLM cover-up and lame excuses for lack of transparency to their donors and the public” said Peter Flaherty, NLPC’s Chairman. “Enough is enough,” said NLPC’s counsel Paul Kamenar who filed the complaint for NLPC. “The IRS must do their job and impose civil or criminal penalties for any violations and revoke their tax-exempt status if warranted,” Kamenar added. NLPC has been in the forefront of investigating the shady activities of BLMGNF, Patrisse Cullors, her associates and connected organizations as part of its Government Ethics Project. NLPC recently filed complaints with the Attorney Generals of California and Washington on February 4, 2022, against BLMGNF for its flagrant failure to comply with those States’ nonprofit registration laws after being ordered to cease their fundraising activities. Founded in 1991, NLPC promotes ethics in public life and government accountability through research, investigation, education, and legal action. Contact Details National Legal and Policy Center Paul Kamenar +1 301-257-9435 paul.kamenar@gmail.com Company Website http://www.nlpc.org

April 14, 2022 11:51 AM Eastern Daylight Time

Bridgepoint Investment Banking Arranges Preferred Equity for Portfolio Acquisition for Cook Properties

Bridgepoint Investment Banking

Bridgepoint Investment Banking (“Bridgepoint”) acted as financing arranger to Cook Properties on their preferred equity capital raise with Waterfall Asset Management (“Waterfall”). Cook Properties NY (“Cook” or the “Company”), is a family-owned and operated real estate management and development company with $325 million in assets under management. Cook Properties owns and manages 200,000+ square feet of commercial, retail office space, self-storage units and manufactured home parks totaling 6,500 pads. The Company sought the assistance of Bridgepoint to secure alternative capital to support their acquisition of a 54-park portfolio with 2,300 pads in Upstate New York. The acquisition has now elevated Cook Properties as the largest owner and operator of manufactured homes and parks in the state of New York. Bridgepoint ran a comprehensive capital raising process, which was met with substantial interest from the market from both preferred equity and private debt providers. Cook was able to choose from a variety of financing structures and growth partners. Cook ultimately selected Waterfall Asset Management due to their real estate expertise and flexible financing structure. “Bridgepoint is proud to have advised Cook Properties in their partnership with Waterfall,” said Bridgepoint Director Subhash Marineni. “This transaction highlights our deep capital connectivity and ability to source flexible capital to support acquisitions and growth. We are happy to have found such an experienced partner for Cook Properties in Waterfall, who will continue to provide strategic guidance and future growth capital. We are impressed by the Cook Team’s industry expertise and passion for growth. We are confident that Cook Properties will emerge to become one of the leading owners and operators of manufactured home parks in the U.S.” "It was a pleasure working with Bridgepoint in our search for a strategic financing partner," said Scott Mulcahy, CFO of Cook Properties. "The Bridgepoint team was able to successfully connect us with Waterfall Asset Management, a firm that shares Cook's interest and commitment to the manufactured housing asset class. We look forward to future partnership opportunities." "We are thrilled to have formed new relationships allowing us to effectively scale our operations," said Jeff Cook, Managing General Partner and CEO of Cook Properties. “Becoming the #1 owner and operator of MHCs in New York State is an exciting milestone for us as we continue to redefine the manufactured housing industry." About Bridgepoint Investment Banking Bridgepoint Investment Banking, a division of Bridgepoint Holdings NE, LLC, is a market-leading boutique investment bank. The Bridgepoint team, through their broker dealer relationship with M&A Securities Group, Inc., an unaffiliated entity, serves clients over their corporate lifecycles by providing capital raising and M&A advisory solutions. Bridgepoint serves clients globally across a range of focus sectors. Learn more about Bridgepoint at www.bridgepointib.com. About Cook Properties Cook Properties NY is New York State’s largest owner and operator of Manufactured Housing Communities with $325 million in assets under management. Family-owned and operated since 1997, Cook’s real estate portfolio includes manufactured housing communities totaling 6,500 pads, along with retail, office, and storage facilities. Learn more about Cook Properties at www.cookpropertiesny.com. Contact Details Subhash Marineni, Director Bridgepoint Investment Banking +1 402-817-7960 smarineni@bridgepointib.com Company Website https://bridgepointib.com/

April 12, 2022 07:00 AM Central Daylight Time

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