RESAAS Announces Warrant Amendment
Wednesday, October 2, 2019 5:00 PM
VANCOUVER, BC / ACCESSWIRE / October 2, 2019 / RESAAS Services Inc. (TSXV:RSS)(OTCQB:RSASF), a cloud-based technology platform for the real estate industry, today announced that the Company is proposing to re-price the following outstanding warrants:
- 10,000,000 warrants granted on September 24, 2018 to acquire 10,000,000 common shares at $0.30 until September 24, 2020; and
- 2,000,000 warrants granted on June 6, 2019 to acquire 2,000,000 common shares at $0.30 per share until May 31, 2020 (collectively, the "Warrants")
The exercise price of the Warrants will be amended to $0.20 (the "New Exercise Price") and in accordance with the policies of the TSX Venture Exchange (the "TSXV"). The terms of the Warrants will be further amended to include an accelerated expiry clause such that the exercise period of the Warrants will be reduced to 30 days if, for any 10 consecutive trading days of the Common Shares, the closing price of the Common Shares exceeds the New Exercise Price by 25% or more (collectively, the "Amendments"). All other terms of the Warrants remain the same. Certain insiders of the Company are holders of the Warrants and pursuant to the policies of the TSXV, no more than 10% of the aggregate number of the Warrants held by these insiders may be amended pursuant to the Amendment. The Amendments are subject to the acceptance of the TSXV and the consent of the holders of the Warrants.
About RESAAS Services Inc.
RESAAS is a cloud-based and blockchain technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis.
Visit www.resaas.com for more information.
For further information contact:
RESAAS Services Inc.
Tel: +1 (604) 558-2929 Email: [email protected]
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from RESAAS Services Inc.'s expectations and projections.
SOURCE: RESAAS Services Inc.