The first tranche (the “Tranche A”) relied on the “part and parcel exception” with respect to pricing. Under Tranche A, the Company issued 46,648,200 units (the “A-Units”) at a price of
The second tranche (the “Tranche B”) did not rely on the “part and parcel exception” with respect to pricing. Under Tranche B, the Company issued 4,262,760 units (the “B-Units”) at a price of
In connection with the Private Placement, the Company paid cash finder fees in an aggregate amount of
The A-Units and B-Units issued under the Private Placement shall be subject to a restrictive hold period of four months and one day from the date of issuance. The Company has received conditional acceptance of the Private Placement from the
All amounts referenced herein are in Canadian dollars.
About ILA
ILA is a transformational data analytics organization that provides transparency to the valuation of real estate assets. ILA is a real estate valuation platform with technologies that leverage the power of data designed to address today's dynamic real estate valuation market. Our proprietary innovative platform provides software and data licenses and technology managed services to the real estate industry, serving primarily the property lending and property tax sectors, both public and private, in
ILA’s common shares are traded on the
About Apex
Apex provides real property sketching solutions leveraging it’s industry leading proprietary software, database and professional services, which includes developing real estate sketching and modeling software, providing real estate sketch aggregation, sketch conversion, sketch verification, sketch modification, sketch analysis and software maintenance services on a global basis to the property assessment, appraisal and insurance industries within
Cautionary Note
Completion of the Transaction and the Offering are subject to a number of conditions, including but not limited to, any necessary stock exchange acceptance. The Transaction and Offering cannot close until the required approvals are obtained. There can be no assurance that the Transaction and/or the Offering will be completed as proposed or at all. Investors are cautioned that any information released or received with respect to the Transaction and Offering may not be accurate or complete and should not be relied upon. Neither
Forward Looking Information:
This news release contains forward-looking statements that involve known and unknown risks, uncertainties and assumptions that may not be realized. These statements relate to future events or future performance and reflect management’s current expectations and assumptions which are based on information currently available to management, including in respect of the use of proceeds of the Private Placement. There is significant risk that forward-looking statements will not prove to be accurate. A number of factors could cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements discussed in the forward-looking statements. The inclusion of forward-looking statements and information should not be regarded as a representation of ILA or any other person that the anticipated results will be achieved and investors are cautioned not to place undue reliance on such information. These forward-looking statements are made as of the date of this news release and, accordingly, are subject to change after such date. ILA does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
Contact:Gary Yeoman , CEO gary.yeoman@ilookabout.com 416-347-7707 www.ilookabout.com
Source:
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