RESAAS Announces Warrant Exercises and U.S. Exchange Inter-Listing

RESAAS Announces Warrant Exercises and U.S. Exchange Inter-Listing

  • On July 31, 2012

RESAAS Services Inc, an enterprise social network for the real estate industry, is pleased to announce the completion of its previously announced warrant exercise programme (the “Programme”) whereby a total of 2,371,925 common shares were issued for gross proceeds to the company of $1,185,962. Total fees paid for orderly execution under the Programmed amounted to $35,578 (or 3% of gross proceeds raised), leaving net proceeds to RESAAS of $1,150,384.

Also during this time, RESAAS raised net proceeds of $194,137 from the exercise of 388,274 warrants outside of the Programme and $61,400 from the exercise of 245,600 agents warrants. No fees were paid in connection with these exercises.

A grand total of $1,405,921 in net proceeds was raised by RESAAS and 3,005,799 common shares were issued.

“We were very pleased to see that so many of our original shareholders from our initial public offering have chosen to exercise their warrants and invest further into the company. This high level of shareholder interest is an attestation to the fine work and vision of our engineering, sales and management teams,” says Cam Shippit, CFO of RESAAS.

RESAAS is also pleased to announce that it intends to apply to inter-list its common shares for trading on a stock exchange in the United States. Any such listing is subject to approval by the applicable stock exchange and meeting all regulatory requirements in the United States.