NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CALGARY, Alberta, April 19, 2022 (GLOBE NEWSWIRE) -- ApartmentLove Inc. (CSE: APLV) (“ApartmentLove” or the “Company”), a leading provider of online home and apartment rental marketing services to landlords and renters in 30 countries on 5 continents around the world, is pleased to announce a non-brokered private placement of up to 10,000,000 units of the Company (“Units”) at a price of $0.15 per Unit, for gross proceeds up to a maximum of $1,500,000 (the "Private Placement").
Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and a one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will permit the Warrant holder to acquire one additional Common Share for a period of up to 2 years at a price of $0.25 per Common Share. If the volume weighted average trading price of the Common Shares on the Canadian Securities Exchange (“CSE”) or another recognized Canadian stock exchange is equal to or greater than $0.45 over a 20 consecutive trading day period, the Company may, at its option, accelerate the expiry of the Warrants by issuing a press release announcing such acceleration, and in such case the expiry of the Warrants shall be deemed to be at 5:00 pm (Calgary time) on the 30th day following such press release.
Proceeds from the Private Placement have been budgeted to support the Company’s growth through acquisition program as well as for general working capital purposes. The Company anticipates closing of the Private Placement on or about April 30, 2022.
About ApartmentLove Inc.
ApartmentLove Inc. (CSE: APLV) is a leading provider of residential rental marketing services to landlords and renters nationwide. Promoting residential rental properties in every major market in Canada and the United States, ApartmentLove has active rental listings in 30 countries on 5 continents around the world. Having proven its ability to scale as a fast-growing technology company in the hot “PropTech” industry, ApartmentLove is executing its growth and expansion plans by acquiring good assets in choice rental markets at attractive multiples.
For more information visit https://apartmentlove.com/investors or contact:
Trevor Davidson
President & CEO
ApartmentLove Inc.
tdavidson@apartmentlove.com
(647) 272-9702
Disclaimer and Reader Advisory
The CSE does not accept responsibility for the adequacy or accuracy of this news release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include but are not limited to the successful closing of the Private Placement; the anticipated use of proceeds of the Private Placement; the Company successfully executing its growth through acquisition mandate and realizing the benefits of this mandate; the receipt of all applicable regulatory approvals in respect of the Private Placement, if required. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Risk factors can also be found in the Company's continuous disclosure documents which have been filed on SEDAR and can be accessed at www.sedar.com. Because of the risks, uncertainties, and assumptions contained herein, investors should not place any undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The securities offered pursuant to the Private Placement 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 U.S. state securities laws, and may not be offered or sold in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ApartmentLove® | the feeling of home
