ADCORE Announces New Market Making Agreement and Granting of Options
Wednesday, May 29, 2019 7:00 AM
TORONTO, ONTARIO / ACCESSWIRE / May 29, 2019 / ADCORE Inc. (formerly County Capital One Ltd.) (the "Corporation") (TSXV: ADCO) and the parent company of Podium Advertising Technologies Ltd. d/b/a ADCORE ("ADCORE"), announced that it has retained Generation Advisors Inc. ('GenerationAI') to provide market making services to the Corporation in compliance with the guidelines of the TSX Venture Exchange (the 'Exchange'). GenerationAI will trade shares of the Corporation on the Exchange for the purposes of maintaining an orderly market and improving the liquidity of the Corporation's shares.
In consideration for their services, the Corporation has agreed to pay GenerationAI $7,500 per month for a period of a minimum of 6 months. The agreement may be terminated by the Corporation or GenerationAI on 30 days' notice. There are no performance factors contained in the agreement and GenerationAI will not receive any shares or options from the Corporation as compensation for the services it will render. The Corporation and GenerationAI are unrelated and unaffiliated entities, but GenerationAI 's clients may have an interest, directly or indirectly, in the securities of the Corporation. The agreement is subject to regulatory approval.
The Corporation also granted an aggregate of 1,950,000 incentive stock options to directors, officers, employees and consultants of the Corporation in accordance with the Corporation's stock option plan today.
Each option entitles the holder thereof to purchase one common share of the Corporation at an exercise price of $0.50 per common share, and is exercisable for a period of up to five years from the date of grant and are subject to the approval of the Exchange.
ADCORE is a leading provider of machine-learning powered advertising technologies. ADCORE's suite of solutions empowers digital advertisers with automated solutions to enhance and maximize their Search Engine Marketing ("SEM"). ADCORE's technologies are designed for in-house marketing professionals, freelancers and advertising agencies to scale their SEM activity and maximize their ROI.
By combining extensive industry knowledge and experience with its proprietary artificial intelligence ("AI") engine, ADCORE offers a unique SEM platform. In addition to being named numerous times on Deloitte's Fast 50 Technology list, ADCORE is a certified Google Premier Partner.
ADCORE serves hundreds of clients worldwide including: Digital Marketing Agencies, e-Commerce Businesses, Travel, Financial Technology and Gaming Companies and its strength as an agile and leading player in the industry has led to winning the largest online tender to date in Israel, a CAD $27 million contract with the Israel Government Advertising Agency.
Established in 2006 and majority-owned by its founder and CEO, Mr. Omri Brill, ADCORE employs over thirty people in its headquarters in Tel Aviv, Israel and satellite offices in Melbourne, Australia and Winnipeg, Manitoba.
ADCORE finished its December 31, 2018 fiscal year with sales of approximately CAD$12 million (audited) and adjusted EBITDA of approximately CAD$4 million.
For more information about Adcore, please visit www.adcore.com
This press release contains certain forward-looking statements, including statements about the Corporation's future plans and intentions and completion of the Proposed Transaction. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information please contact:
Robert Munro, Director
Email : [email protected]
Omri Brill, CEO
Email: [email protected]
The TSX Venture Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
SOURCE: ADCORE Inc.