TORONTO, ON–(Marketwired – May 17, 2017) – iLOOKABOUT Corp. (TSX VENTURE: ILA) (“iLOOKABOUT” or “the Company”) , is pleased to announce the closing today of its previously announced public offering (the “Offering”) through a syndicate of underwriters led by Canaccord Genuity Corp., and which included Beacon Securities Limited and Desjardins Securities Inc. The underwriters elected to partially exercise their over-allotment option, resulting in a total of 20,520,000 common shares of the Company (the “Common Shares”) being issued by the Company today, at a price of $0.25 per Common Share, for aggregate gross proceeds to iLOOKABOUT of $5,130,000.
iLOOKABOUT intends to use the net proceeds of the Offering to accelerate new product development, position the Company for new opportunities, including potential future acquisitions, and for general corporate purposes.
The Common Shares were offered by way of a short form prospectus filed in each of the provinces and territories of Canada, excluding Quebec.
This news release is not an offer of securities for sale in the United States. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About iLOOKABOUT
iLOOKABOUT is a software, data analytics and visual intelligence company focused on real property. The Company primarily serves the property assessment, property taxation, municipal, insurance, and appraisal sectors, both public and private, in North America. iLOOKABOUT provides powerful data analytics to the real estate industry through its Real Property Tax Analytics software offering. The Company’s proprietary StreetScape™ imagery and real property focused web-based application, GeoViewPort™, unifies property related data and enables desktop review of properties. iLOOKABOUT has integrated analytics and workflow management applications into GeoViewPort™ which create highly valued service offerings for its clients. To augment its technology based offerings, the Company provides real estate consulting services, with a focus on the Property Tax and Valuation sectors.
iLOOKABOUT’s common shares are traded on the TSX Venture Exchange under the symbol ILA.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Laurence Rose
Chief Executive Officer
[email protected]
647-920-6383
www.ilookabout.com
