ApartmentLove to Acquire Internet Listing Services Business in All-Cash Deal, The Canadian Business Journal

Calgary, Alberta, November 9, 2022 (GLOBE NEWSWIRE) — ApartmentLove Inc. (CSE: APLV) (“Apartment Love” or “Company”) is a leading provider of online home, apartment and vacation rental marketing services to owners, renters and travelers worldwide, providing property purchase agreements (“purchase contract”) an Internet listing service company based in Ontario (“seller”) buy the seller’s internet listing services business (“acquisition business“) For a cash purchase price of $940,000, subject to normal working capital adjustments (“acquisition”).

ApartmentLove Inc. President and CEO Trevor Davidson said: , “The acquired business is at the forefront of the Canadian listing space and is a particularly well-known and well-known brand in Southern Ontario. You will get a list of rentals in the area (“GTA), the most populous region in the country, as well as hundreds of thousands of new monthly active users (“MAUs”) It will significantly expand the range and capacity of the services we offer in Canada.”

The acquisition is expected to close on or about November 30, 2022, subject to customary closing conditions contained in the purchase agreement for such transactions. Upon completion of the acquisition, ApartmentLove intends to maintain the existing frontline operations team driving the now acquired business, in addition to maintaining the domain as a standalone asset under the expanding ApartmentLove Inc. umbrella. Management believes these post-closing steps will help ensure a smooth transition for all clients, customers, MAUs and cash flows.

Following the close of the acquisition, management believes in new and continued investments in search engine optimization (“SEO), digital marketing, and other advertising and promotional strategies targeted at GTA lessees, the acquired business is expected to return to “pre-pandemic levels” and generate earnings in excess of its 50% EBITDA margin. will be In the short term, increased earnings and net cash from the operations of the acquired businesses will support our recurring cash flow and contribute to management’s goal of becoming cash flow positive as soon as possible.

This acquisition represents the type and variety of established, scalable and profitable businesses ApartmentLove intends to acquire, consolidating the deeply fragmented Internet listings industry.

About ApartmentLove Co., Ltd.

ApartmentLove Inc. (CSE: APLV) is a leading provider of online rental marketing services to property owners, renters and travelers in over 30 countries around the world. Having proven its ability to scale as a fast-growing ‘PropTech’ in today’s complex and dynamic market environment, ApartmentLove is committed to its growth through an acquisition program. This is buying complementary businesses with lots of monthly active users, recurring revenue history, and positive cash flow. And custom technology that accelerates and mitigates the rental experience while driving a unique organic growth strategy in key markets around the world. ApartmentLove Inc. is a public company with common stock listed on the Canadian Stock Exchange (CSE: APLV).

For more information, please visit https://apartmentlove.com/investors or contact us below.

Trevor Davidson
President and CEO
Apartment Love Co., Ltd.
[email protected]
(647) 272-9702

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Certain information in this news release may contain forward-looking statements that involve significant known and unknown risks and uncertainties, some of which are beyond our control. It’s nothing. Forward-looking statements “plan,” “continue,” “expect,” “predict,” “intend,” “believe,” “forecast,” “estimate,” “could,” It is often characterized by words such as “is” and “will”. , “potential,” “proposed,” and other similar words, or statements that a particular event or condition “could occur” or “will occur.” These statements are just predictions. Readers are cautioned that the assumptions used in the preparation of such information, although believed to be reasonable at the time of preparation, may prove to be inaccurate and, therefore, forward-looking statements may not be correct. You are cautioned not to place undue reliance on forward-looking statements, including, but not limited to, the expected benefits of the acquisition and our ability to realize the benefits of the acquisition. . A company realizing the growth benefits of an acquisition mandate. The ability of a company to be cash flow positive. our ability to successfully integrate acquired businesses; We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Risk factors are described in our continuous disclosure documents filed with SEDAR and accessible at www.sedar.com.

To the extent that forward-looking information in this press release constitutes “forward-looking financial information” or “financial prospects” within the meaning of applicable Canadian securities laws, such information does not reflect the Company’s forecasts. Product sales and readers should be aware that this information may not be suitable for other purposes, and readers should not place undue reliance on such forward-looking financial information and forecasts. Forward-looking financial information and prospects, like general forward-looking information, are based on assumptions without limitation and may be subject to the risks described under the heading “Advice to Readers” above. receive. Our actual financial condition and results of operations may differ materially from management’s current expectations and, as a result, our actual earnings may differ materially from the projected earnings projections set forth in this press release. There is a possibility. Such information is provided for illustrative purposes only and may not be representative of our actual financial condition or results of operations.

Income before interest and tax Depreciation (“EBITDA) are international financial reporting standards (“IFRS“) is issued by the International Accounting Standards Board and is therefore considered a ‘non-IFRS measure’ and may not be comparable to similar measures provided by other issuers. ApartmentLove believes that non-IFRS measures of EBITDA combined with IFRS measures such as revenue and net income (loss) are useful measures for shareholders. However, notwithstanding the above, please note that EBITDA should not be interpreted as a substitute for financial measures determined in accordance with IFRS as a measure of our financial performance.

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