TORONTO, July 13, 2023 (GLOBE NEWSWIRE) -- ApartmentLove Inc. (CSE: APLV) (OTCQB: APMLF) (“ApartmentLove” or the “Company”), a leading provider of online home, apartment, and vacation rental marketing services to property managers, owners, renters, and vacationers from around the world is pleased to announce a non-brokered private placement of up to 3,500,000 units of the Company (“Units”) at a price of $0.15 per Unit, for gross proceeds up to a maximum of $525,000 (the "Private Placement").
Each Unit will be comprised of: (i) one common share of ApartmentLove (a “Common Share”); and (ii) one half of one Common Share purchase warrant of ApartmentLove (each whole warrant, a “Warrant”). Each Warrant shall be exercisable to purchase one additional Common Share at an exercise price of $0.25 for a period of two years. If the volume-weighted average price (“VWAP”) of the Common Shares on the Canadian Securities Exchange (“CSE”) or a recognized Canadian stock exchange is equal to or greater than $0.45 over a twenty consecutive trading day period, ApartmentLove may, at its option, accelerate the expiry of the Warrants (“Warrant Acceleration”) by issuing a press release (a “Warrant Acceleration Press Release”) and in such case the expiry of the Warrants shall be deemed to be on the 30th day following the issuance of the Warrant Acceleration Press Release.
Proceeds from the Private Placement have been budgeted to support the Company’s general working capital purposes. The Company anticipates closing of the Private Placement in Q3, 2023.
About ApartmentLove Inc.
ApartmentLove Inc. (CSE: APLV) (OTCQB: APMLF) is a leading provider of online home, apartment, and vacation rental marketing services to property managers, owners, renters, and vacationers in more than 30-countries around the world. Promoting more than 350,000 daily active homes, apartments, and vacation properties on its network of short-term and long-term rental marketing websites, ApartmentLove has proven its ability to scale as a fast-growing "PropTech" in today’s complex and dynamic markets. Seeking to consolidate the deeply fragmented internet listing industry, ApartmentLove has acquired multiple businesses that have many monthly active users, a history of recurring revenues, positive cashflows, and/or custom technologies that accelerate and destress the renting experience.
For more information visit www.apartmentlove.com/investors or contact:
Trevor Davidson
President & CEO
ApartmentLove Inc.
tdavidson@apartmentlove.com
(647) 272-9702
Disclaimer and Reader Advisory
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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.
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.
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.
ApartmentLove® | the feeling of home
