RESAAS SERVICESINC.
RESAASAnnouncesProposedProspectusOfferingandConcurrentUnit PrivatePlacement
VANCOUVER, B.C.(November 24,2015)–RESAAS ServicesInc. (CSE:RSS,OTCQX:RSASF), acloud-basedsocialbusiness platformfortherealestateservices industry,ispleased to announceapublicofferingofunits at a price of $1.50per uniton acommercially reasonableeffortsagency basis in the provinces of British Columbia, Alberta and Ontario, with aportionbeing offeredin the United Stateson aprivate placementbasis.Eachunit in the offering will consistof one common share ofRESAASand one sharepurchase warrant exercisable intoonecommon shareataprice of$3.00persharefor aperiod of24monthsfromtheclosingdateofthe offering (the “Closing Date”).
Thetotalnumberofunitsofferedandtotalgrossproceedstothecompanyaretobeconfirmed.
RESAAS hasengagedasyndicateofagents(the“Agents”)for theCanadianportionofthe offering,andhasagreedtopay eachAgentacashcommission equalto7%ofthe gross proceeds oftheofferingandissuewarrants topurchasethatnumber ofunits(each,an“Agent’sUnit”) equalto7%ofthenumberofunitssoldintheoffering atanexercisepriceof$1.80 perAgent’s Unitforaperiod of 24monthsfrom theClosing Date.EachAgent’s Unit willconsistofonecommonshare ofRESAAS andone sharepurchase warrant exercisableintoone common share at aprice of $3.00 per share,also foraperiodof24months fromtheClosingDate.
RESAAShasalsoagreedtogranttheAgentsanover-allotmentoptionofuptoanumberof additionalunitsequalto15%ofthetotalnumberofunitsoffered,attheofferingprice,tocovertheAgents’over-allocation positionandfor marketstabilizationpurposes. Theover-allotment option is exercisable by theAgents in whole or in part at any time up to 30daysfollowingtheClosingDate.
RESAAS planstofile aprospectussupplementtoitsshortformbase shelfprospectusdatedJune 2,2015,inordertoqualify the unitsforsaleinBritishColumbia, Alberta andOntario,andintends to use theproceedsofthe offeringforcontinueddevelopment ofitstechnology platform, expansionofthe company’s servicesin internationalmarkets, the hiring of additionalemployees tosupport itscontinued growthand generalworkingcapital.
Thispresreleasedoesnot constituteanoffertosellora solicitationofan offertobuysecuritiesintheUnited States.Thesecurities referencedhereinhavenot beenandwillnotberegistered undertheUnitedStates Securities Actof1933,asamended(the“U.S. Securities Act”),orany statesecurities lawsandmay notbeofferedorsold intheUnitedStates orto,orfortheaccount orbenefitof,U.S.persons(asdefinedinRegulation SundertheU.S.SecuritiesAct)exceptin compliance with one ormore exemptions from the registration requirements of the U.S. SecuritiesAct andapplicablestatesecurities laws.
###
About RESAAS Services Inc.
RESAAS,acloud-basedsocialbusinessplatformfortherealestateservicesindustry,isdesigned specificallyfortherealestateprofessionaltoconnectandcommunicateinreal-time.Knownas realestatebroadcasts,RESAAS'powerfulreblasts®engineautomaticallygeneratesallofyour realestateworkflowintoinvaluablesocialcontentthatisinstantlypushedouttotheRESAAS platformandothersocialnetworks.Visitwww.resaas.com.
On BehalfofRESAAS
Danielle Sissons
VP CommunicationsRESAASServicesInc.
Telephone:(604)558-2929;Email:danielle.sissons@resaas.com
Investor Relations
CamShippit
RESAASServicesInc.
Telephone:(604)558-2929;Email:cam.shippit@resaas.com
The CSE has not reviewed, nor approved or disapprovedthecontentofthispressrelease.
Forward-Looking Information:
ThispressreleaseandtheRESAASwebsitereferencedhereincontainforward-looking informationwithinthemeaningofCanadiansecuritieslegislation,includingbutnotlimitedto statementsregardingtheofferingandtheuseofproceedsoftheoffering.Theforward-looking informationisbasedoncertainkeyexpectationsandassumptionsmadebyRESAAS’management,suchasthecompletionoftheoffering,thecommercializationandanticipated growthofthetechnologyplatform, thecompany'sabilitytoexpanditsservicesininternationalmarkets and hire additional employees to supports its continued growth, and the company’s financialposition,businessstrategy,plansandobjectivesofmanagementforfutureoperations andothersimilarstatements.
Forward-looking informationissubjecttorisks,uncertaintiesandotherfactors,manyofwhichareoutsideofthecompany’s control,thatcouldcauseactualresultstodiffermateriallyfrom theresultsdiscussedintheforward-lookinginformation. Importantfactorsthatmaycauseactualresultstovary,include,withoutlimitation,theriskthattheofferingwillnotbecompletedandtheriskthat thecompanywillnotbeableexpanditsservicesininternationalmarketsorhire additionalemployeestosupportsitscontinuedgrowth.AlthoughRESAAS believesthatthe expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on such information because RESAAS can give no assurance that it will prove to be correct. Theforward-looking information contained in this press release ismade as of the date ofthispress release.RESAAS disclaims any intent or obligation to update publiclyanyforward-lookinginformation, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
