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Pathfinder Announces 17% YoY Increase in Occupancy in Q3

VANCOUVER, B.C, Oct. 4, 2022 /CNW/ - Pathfinder Ventures Inc. (TSXV: RV) (OTCQB: RVRVF) (the "Company," "RV" or "Pathfinder.") is pleased to announce that it successfully closed its second Q3 season with a 71% occupancy from July 1st to September 30th, achieving a 17% increase from the prior year occupancy of 54% across all parks.

Pathfinder Ventures announces it successfully closed its second Q3 season with a 71% occupancy from July 1st to September 30th, achieving a 17% increase from the prior year occupancy of 54% across all parks. (CNW Group/Pathfinder Ventures Inc.)
Pathfinder Ventures announces it successfully closed its second Q3 season with a 71% occupancy from July 1st to September 30th, achieving a 17% increase from the prior year occupancy of 54% across all parks. (CNW Group/Pathfinder Ventures Inc.)

The blended Q3 occupancy increase stated above included 36% increase in the Agassiz-Harrison location and 40% increase in the Parksville location, which started operating last year on May 22nd and July 17th, respectively. The Q3 financial results will be released on November 28th.

Custom programming brings guests back

Pathfinder's camp resorts continue to receive 5-star reviews, driven by the high quality of service and weekend programs. Pathfinder recognizes the opportunity to diversify its Pathfinder Camp Resorts with engaging, customized, and entertaining weekend programming for children and families.

"Our programs are what really set us apart from other resorts. Kids love our themed events, live music, and arts & crafts, while their parents can enjoy some peace back at their campsite or come join in the fun," says Stan Duckworth, COO. "These unique experiences keep our guests coming back year after year." The Company aims to build a strong returning customer base with the memorable brand it has begun to establish.

Future growth opportunities

There is still room to grow the overall occupancies, especially in the shoulder and winter seasons. The Company is already seeing increased bookings in the winter seasonal stays this year. Pathfinder's Parksville location also announced an addition of a newly renovated suite and is reviewing plans to capitalize on the growing demands for hard roof accommodations on Vancouver Island.

Pathfinder's Agassiz location successfully opened its heated pool in time for the July long weekend, which led to an increase in bookings and some extended stays. The Company plans to open the pool, weather permitting, 6 weeks earlier in 2023 which will help with occupancy during the shoulder season.

Pathfinder Ventures is committed to growing its portfolio of Pathfinder Camp Resorts and revenues in the RV industry, regardless of the difficult economic conditions.

About Pathfinder Ventures

Pathfinder Ventures Inc. is developing a network of branded, upscale and family-friendly RV parks and campgrounds under the "Pathfinder Camp Resorts" name.  Pathfinder currently has three camp resorts located in B.C. and is focused on growing its network through both acquisitions and development.  Pathfinder is also seeking to acquire RV & Self Storage facilities to take advantage of the rapidly growing market of people who want to experience the great outdoors in an RV.

On behalf of the board of directors of the Corporation:

Joe Bleackley
Chief Executive Officer, Founder and Director
Pathfinder Ventures Inc.

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information Cautionary Statement

This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations include risks detailed from time to time in the filings made by the Corporation with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Corporation does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release.

In the case of RV, this news release includes certain "forward-looking statements" which are particular to RV and are not comprised of historical facts. Forward-looking statements include estimates and statements that describe RV's future plans, objectives or goals, including words to the effect that RV or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to RV, RV provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, RV's objectives, goals or future plans, statements, its projected revenues and earnings, and anticipated future growth in new markets. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the ability of the RV to successfully implement its development strategy and whether this will yield the expected benefits; competitive factors in RV's industry sector; the success or failure of product development programs; currently existing applicable laws and regulations or future applicable laws and regulations that may affect RV' s business; decisions of regulatory authorities and the timing thereof; Covid-19 related risks, availability of properties; the economic circumstances surrounding RV's business, including general economic conditions in Canada, the US and worldwide; changes in exchange rates; changes in the equity market; inflation; uncertainties relating to the availability and costs of financing needed in the future; and those other risks disclosed in the filing statement or other disclosure document prepared and supplied on sedar.  Although RV believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. RV disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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SOURCE Pathfinder Ventures Inc.

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