RESAAS completes Initial Public Offering

RESAAS is pleased to announce the closing of its initial public offering (the “Offering”) and the exercise of an over-allotment option (the “OverAllotment Option”) granted to the agent for the Offering, Haywood Securities Inc. (the “Agent”).

RESAAS issued 5,520,000 units (a “Unit”), including 720,000 Units under the Over-Allotment Option, at a price of $0.25 per Unit for gross proceeds of $1,380,000 (the “Proceeds”). Each Unit consists of one common share in the capital of Resaas (the “Common Shares”) and onehalf of a share purchase warrant (each whole warrant, a “Warrant”), with each Warrant exercisable for a period of 18 months after closing of the Offering into an additional Common Share (the “Warrant Shares”) at a price of $0.50 per Warrant Share.

In consideration for acting as the Agent for the Offering, the Agent received a cash commission equal to 8% of the Proceeds, agent’s warrants to purchase up to 552,000 Common Shares (the “Agent’s Warrant Shares”) at a price of $0.25 per Agent’s Warrant Share for a period of 18 months after closing of the Offering and a corporate finance fee of 75,000 Units. Each corporate finance fee Unit has the same composition as the Units of the Offering and the same terms and conditions. Immediately after the closing of the Offering, Resaas closed a private placement of Units for gross proceeds of $202,500.

The Common Shares have been conditionally approved for listing on the Canadian National Stock Exchange (the “CNSX”) and are expected to begin trading this week under the stock symbol RSS.