RESAAS Services Inc, an enterprise social network for the real estate industry, announces a warrant exercise programme (the “Programme”) to promote the orderly and efficient exercise of certain common share purchase warrants.
RESAAS currently has 2,739,300 common share purchase warrants (the “Warrants”) outstanding that were granted on January 28, 2011. Further details of the Warrants can be found in RESAAS’ prospectus dated January 14, 2011, located in RESAAS’ profile on www.SEDAR.com.
The Warrants will expire on July 29, 2012 (the “Warrant Expiry Date”) and RESAAS wishes to see that, if the holders choose to exercise the Warrants, the exercises will be completed in an orderly and efficient manner.
RESAAS has agreed to pay registrants that contact holders and facilitate the exercise of warrants a fee of 3% of warrant proceeds actually received through the Programme.
Depending upon the number of Warrants exercised during the early exercise period, RESAAS expects to receive gross proceeds of up to $1,369,650 on or before the expiry date of the Warrants.
The Programme is subject to the receipt of all final regulatory approvals, including the approval of the CNSX.