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TUT Fitness Group Signs Agreement with Tribe Property Technologies to Provide Gym Equipment and Community Wellness App For Tribe’s Portfolio of Multi-Family Residential Units Across Canada

Key Highlights:

  • Tribe Property Technologies manages more than 40,000 rental and condo homes across Canada
  • TUT Fitness will provide TUT gym equipment to fitness areas in participating Tribe buildings
  • TUT Fitness will also develop a custom Wellness app for Tribe’s residential communities
  • Tribe and TUT Fitness will co-market TUT gyms and the TUT wellness app to differentiate Tribe’s real estate communities from competing properties

Vancouver, British Columbia – March 09, 2022: TUT Fitness Group Inc. (TSX-V:GYM)  (Frankfurt: 7PG) (“TUT”) announced today that it has signed an agreement with Tribe Property Technologies Inc (TSXV: TRBE) (OTCQB:TRPTF). The mutual goals of the agreement are to promote TUT Fitness equipment to Tribe customers and the North American property management market, and to use TUT’s wellness app to engage Tribe residents and differentiate Tribe’s residential condo and HOA communities.

The partnership will roll out in three phases: installing TUT Fitness exercise equipment in designated Tribe buildings; expanding to integrate TUT’s training videos and Training Ambassadors into Tribe’s community management online portal Tribe Home; and ultimately leading to a bundled TUT/Tribe

Real estate developers can learn more by visiting: https://tutfitnessgroup.com/tut-tribe-partnership

“Fitness and wellness are more than just an exercise room in the basement; they are now an entire lifestyle choice and we are looking forward to featuring TUT’s approachable exercise equipment and innovative fitness app features to deliver an entire wellness program for our residents that supports our purpose of simplifying residential community and condo living,” said Joseph Nakhla, CEO, Tribe Property Technologies Inc. 

“Tribe is an innovator in how to create welcoming and inclusive residential communities, and we are looking forward to working closely with them to bring our compact and affordable fitness equipment and our digital training app to a broad audience of apartment and condo dwellers,” said Rob Smith, CEO of TUT Fitness Group Inc. 

Tribe manages approximately 40,000 homes comprising more than 100,000 residents. The Company’s proprietary community management software, Tribe Home, is integrated into every community with its ability to connect, inform, educate, and protect through the digitization and simplification of residential community living.

TUT Fitness products feature internationally patented, stackable TUT Plates™ resistance bands as the core element in both its TUT Trainer™ Tower and TUT Rower™, which are being marketed and sold into the $10.73 billion market for home gym equipment. 

LICENSING & PARTNERSHIPS CONTACT:

TUT Fitness Group licenses its patented stackable resistance band technology to OEM/ODM equipment manufacturers. Parties interested in partnership or licensing opportunities should contact Mark Addison, Director of Strategic Sales & Partnerships at: m.addison@tutfitnessgroup.com.   

INTERNATIONAL SALES CONTACT:

Resellers and distributors interested in representing TUT Fitness Group products should contact Stefan Silner, VP of International Sales & Distribution at: s.sillner@tutfitnessgroup.com

Please see our Corporate Video or our social channels: Instagram, Facebook, Twitter, LinkedIn, TUT Highlights (YouTube).

ABOUT TUT FITNESS GROUP:

TUT is a Vancouver-based Canadian manufacturer of high-performance and affordable fitness products. The company has designed, patented, and manufactured one of the world’s smallest (11.6 lbs), and most affordable high-performance home gyms. Incorporated in 2018, TUT is an emerging player in the connected Home Gym and Fit Tech hardware space, targeting the US$10.73B Global Home Exercise Equipment Market[1] and Online Fitness Market, expected to be US$30B by 2026[2].

TUT’s flagship TUT Trainer™ micro gym uses patented, stackable resistance band technology (TUT Plates™) to replace heavy metal weights, improving form and targeting every muscle group without adding pressure to joints or tendons. With more than 250+ exercises, the multi-functional and portable gym also includes an optional TUT Rower™, and offers breakthrough functional strength and cardio training that raises the bar for personal home gyms. 

ABOUT TRIBE PROPERTY TECHNOLOGIES 

Tribe is a property technology company that is digitizing the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe’s integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers.

Tribe’s business is composed of three revenue pillars: software and services (recurring licensing and management fees), transactional (rent or condo fees, banking services, lease-ups) and digital services and partnerships (smart building products, financial and insurance service).

Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe’s platform decreases customer acquisition costs, increases retention and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.

For further information please contact:

robs@tutfitnessgroup.com 

Rob Smith

CEO, TUT Fitness Group Inc.

Forward-Looking Statements

Certain statements in this release are forward-looking statements or information, which include the preferred affiliate sales program, TUT Fitness Group licensing its technology, expectations and outcomes from the TUT Fitness Group’s patented technology, development of technologies, customer demand for TUT Fitness Group’s products, the updates to TUT products, future plans, regulatory approvals and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. 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 Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, security threats, and dependence on key personnel and including those other risks filed under the Company’s profile on SEDAR at www.sedar.com. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment and technology failures, litigation, increase in operating costs, the impact of COVID-19 or other viruses and diseases on the Company’s ability to operate, competition, failure of counterparties to perform their contractual obligations, exchange rate fluctuations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

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 Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.


[1]  Source: Fortune Business Insights

https://www.globenewswire.com/news-release/2021/04/15/2210905/0/en/Home-Fitness-Equipment-Market-to-Reach-USD-14-74-Billion-in-2028-Introduction-of-Smart-Treadmills-to-Boost-Growth-reports-Fortune-Business-Insights.html

[2] Source: Global Market Insights, Inc.

https://www.globenewswire.com/news-release/2020/09/24/2098446/0/en/Online-Fitness-Market-growth-predicted-at-30-through-2026-Global-Market-Insights-Inc.html