RESAAS Services Inc., a cloud-based technology platform for the real estate industry, is pleased to announce that its previously disclosed non-brokered private placement (the “Private Placement”) has been fully subscribed for and has closed for aggregate gross proceeds to RESAAS of $2,000,000.

The Private Placement involved the sale of 10,000,000 units (the “Units”) at a price of $0.20 per Unit. Each Unit consists of one RESAAS common share and one common share purchase warrant exercisable at $0.30 until September 24, 2020. All securities issued pursuant to the Private Placement are subject to a four month hold period in accordance with applicable Canadian securities laws.

The proceeds of the Private Placement will be used to continue RESAAS’ current operations, including the continuing integration of blockchain technology into its platform and applications, and for general working capital purposes.