RESAAS Announces $3.5 Million USD Private Placement of Convertible Debenture Units

RESAAS Announces $3.5 Million USD Private Placement of Convertible Debenture Units

  • On January 11, 2022

VANCOUVER, B.C. (January 11, 2022) – RESAAS Services Inc. (TSX-V: RSS, OTCQB: RSASF), (“RESAAS” or the “Company”), a technology platform for the real estate industry, is pleased to announce a non-brokered private placement of up to $3,500,000 USD aggregate principal amount of convertible debenture units (the “Offering”).

Each Convertible Debenture Unit will convert into the Company’s common stock at the higher of 50% premium to the closing price on the date of execution of the Offering, or a 35% discount to the closing price on the date of uplist to a senior American stock exchange, such as NASDAQ.

In conjunction with the Offering, the Company has appointed Spartan Capital Securities, a New York based full-service, integrated financial services firm.

The Company intends to use the net proceeds of the Offering for growth capital, along with general corporate purposes as the Company prepares to uplist.

The Offering is subject to regulatory approval, including that of the Toronto Venture Stock Exchange.

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