RESAAS Raises $1,000,000 from Insiders and Strategic Investors to Further Accelerate Growth
VANCOUVER, BC, April 21, 2022 /CNW/ – RESAAS Services Inc. (TSXV: RSS) (OTCQB: RSASF), (“RESAAS” or the “Company”), a technology platform for the real estate industry, today announced that it has closed a non-brokered private placement, raising gross proceeds of $1,000,000.
Subscribers of the private placement include Directors and Officers of the Company, as well as strategic investors from the real estate industry.
The Company will use proceeds of the private placement for growth capital and general corporate processes, enabling the company to invest in further accelerating the Company’s strategic plan to expand across the Commercial Real Estate industry.
The offering consists of 2,000,000 units (the “Units”) at a price of $0.50 per Unit. Each Unit consists of one share in the Company’s common stock, and one-half warrant. Each warrant is exercisable at $0.75 for 2 years from the date of the closing of this private placement. The expiry of the warrants shall be accelerated to 30 days if the closing price of the Company’s common shares on the TSX Venture Exchange are equal to or greater than $1.50 for a minimum of ten consecutive trading days.
All securities issued pursuant to the private placement will be subject to a standard four month hold period in accordance with applicable Canadian securities laws. In connection with the private placement, the Company paid a finder’s fee of seven percent (7%) for a portion of the total proceeds. The private placement has received Final Acceptance by the TSX Venture Exchange, and closes on April 21, 2022.
The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account of benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of such Act. This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
RESAAS is a technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis. Visit www.resaas.com for more information.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from RESAAS Services Inc.’s expectations and projections.
SOURCE RESAAS SERVICES INC.
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