RESAAS Announces Completion of Insider-Led Non-Brokered Private Placement
- On April 21, 2022
VANCOUVER, BC (April 21, 2022) – RESAAS Services Inc. (TSX-V: RSS, OTCQB: RSASF), (“RESAAS” or the “Company”), a technology platform for the real estate industry, today announced that it has closed a non-brokered private placement, raising gross proceeds of $1,000,000.
Subscribers of the private placement include Directors and Officers of the Company, as well as strategic investors from the real estate industry.
The Company will use proceeds of the private placement for growth capital and general corporate processes, enabling the company to invest in further accelerating the Company’s strategic plan to expand across the Commercial Real Estate industry.
The offering consists of 2,000,000 units (the “Units”) at a price of $0.50 per Unit. Each Unit consists of one share in the Company’s common stock, and one-half warrant. Each warrant is exercisable at $0.75 for 2 years from the date of the closing of this private placement. The expiry of the warrants shall be accelerated to 30 days if the closing price of the Company’s common shares on the TSX Venture Exchange are equal to or greater than $1.50 for a minimum of ten consecutive trading days.