“For ILA this is both a strategic and an accretive acquisition opportunity. Strategically the acquisition will add critical functionality to our desktop valuation platform and enable ILA to cross-sell our existing products throughout the US to over 2,200 Apex clients,” said
“We are pleased to further our pre-existing relationship with ILA with a transaction that we believe will take the Apex products to the next level and reach their full potential,” said
The Proposed Transaction is subject to a number of conditions precedent, including, but not limited to execution of a definitive agreement, Board of Directors, regulatory and third party approvals, financing and the satisfactory completion of due diligence by ILA.
In connection with the Proposed Transaction, the Company intends to complete a non-brokered private placement (the “Offering”) of approximately 26,667,000 units of the Company (the “Units”) at a price of
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
About Apex
Apex provides real property sketching solutions leveraging its 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
As noted above, completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, any necessary stock exchange acceptance, board of directors approval and the Offering. The Proposed Transaction cannot close until the required approvals are obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all. Investors are cautioned that any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.
The
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. 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.
ILA’s common shares are traded on the
Contact:Gary Yeoman , CEO gary.yeoman@ilookabout.com 416-347-7707 www.ilookabout.com
Source:
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