ApartmentLove Announces Brokered Private Placement of $3,000,000 Convertible Debt Units, The Canadian Business Journal

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Calgary, Alberta, November 3, 2022 (GLOBE NEWSWIRE) — ApartmentLove Inc. (CSE: APLV) (“Apartment Love” or “Company”), a leading provider of online residential and apartment rental marketing services to landlords and renters in North America and around the world, and Canaccord Genuity Corp. (“Agent”) complete the brokerage private placement (“Recruitment”) on a commercially reasonable efforts agency basis for up to 3,000 convertible debenture units of the Company (“bond unit”) Raise aggregate amounts up to CAD 3,000,000 at a price of CAD 1,000 per bond unit.

Each Bond Unit shall consist of:convertible bond(ii) 5,000 Stock Acquisition Rights to Purchase Common Shares of the Company (each, “warrant”). The convertible debentures will mature 24 months after the closing of the offering (“Closing date”), accruing interest at 10% per annum, payable quarterly in cash. The outstanding principal amount of each convertible debenture, at the option of its holder, shall be the common stock of the Company (“common stock”) at a price of CAD 0.20 per common share (“Converted price”). Each stock acquisition right is exercisable for 24 months from the closing date to acquire one common share at an exercise price of $0.30 CAD per common share. (1) One day after the cut-off date, the daily volume-weighted average trading price of the common stock on the Canadian Stock Exchange (“CSE75 CAD per common share on five consecutive trading days, the Company reserves the right to advance the expiry date of the Warrant to a date at least thirty (30) days from the date of such writing. news.

The Company also granted the Agents the option to sell up to C$2,000,000 in additional debenture units under the offering. This option is exercisable in whole or in part up to 48 hours prior to the closing date (“Agent options”).

The net proceeds of the offering will be used for cash consideration for the Company’s proposed acquisition, the repayment of certain of the Company’s existing debt, and for general working capital purposes.

At the closing of the Offering, the Company shall pay the Agent: (ii) warrants exercisable at any time prior to the date of 24 months from the closing date to obtain the number of units thereof (each, “agent unit”), which is equivalent to 6.0% of the total proceeds of the offering divided by the conversion price, with an exercise price equal to the conversion price. (iii) a Corporate Finance Fee equal to the number of Debt Units equal to 3.0% of the total number of Debt Units issued pursuant to the Offering; Each agent’s unit consists of one common stock and he one warrant.

Closing of the offering is subject to customary closing conditions and receipt of all regulatory approvals, including but not limited to approval of the CSE. All securities issued pursuant to the offering are subject to a statutory holding period of four months from the date of issuance.

Securities issued in connection with the offering will not be registered under the United States Securities Act of 1933.1933 Act), and none of them may be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Act of 1933. shall not constitute an offer, solicitation or sale of securities in any state where such offer, solicitation or sale would be unlawful.

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. We also drive a unique organic growth strategy in key markets around the world, along with custom technology that facilitates and mitigates the rental experience. 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 falls short of Forward-looking statements “plan,” “continue,” “expect,” “forecast,” “intend,” “believe,” “anticipate,” “estimate,” “could” is often characterized by words such as “”, “to plan”. , “potential,” “proposed,” and other similar words, or statements that a particular event or condition “could occur” or “will occur.” These statements are just predictions. The reader understands that the assumptions used in the preparation of such information, which were believed to be reasonable at the time of preparation, may prove to be inaccurate and therefore should not be used as forward-looking statements. Please be careful not to place undue reliance on forward-looking statements, including but not limited to: Description of Offerings. Total revenue expected to be received by us based on the offering. The Final Terms of the Debt Units and the Securities Underlying the Debt Units. Expected End of Offering. Commissions and fees paid to agents. Exercise of proxy options. Anticipated Use of Offering Proceeds. Receipt of all applicable governmental, regulatory and shareholder approvals, including CSE approval where applicable. 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.

The forward-looking information contained in this release is made as of the date of this release and we may update or revise any forward-looking information as a result of new information, future events or otherwise. does not assume any obligation to do so. securities law. Readers should not place undue reliance on forward-looking information because of the risks, uncertainties and assumptions contained herein. The foregoing statements clearly qualify the forward-looking information contained herein.

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