Real Estate Social Network RESAAS Announces Warrant Exercise Pr
FSC / Press Release
Real Estate Social Network RESAAS Announces Warrant Exercise Progamme
This news release is not an offer of the securities for sale in the United States. The securities being offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements.
Vancouver, British Columbia CANADA, June 15, 2012 /FSC/ - RESAAS Services Inc. (RSS - CNSX),RESAAS Services Inc. ("RESAAS"), an Enterprise Platform for Real Estate Professionals, Mortgage Specialists, Home Buyers and Sellers, announces a warrant exercise programme (the "Programme") to promote the orderly and efficient exercise of certain common share purchase warrants.
RESAAS currently has 2,739,300 common share purchase warrants (the "Warrants") outstanding that were granted on January 28, 2011. Further details of the Warrants can be found in RESAAS' prospectus dated January 14, 2011, located in RESAAS' profile on www.SEDAR.com.
The Warrants will expire on July 29, 2012 (the "Warrant Expiry Date") and RESAAS wishes to see that, if the holders choose to exercise the Warrants, the exercises will be completed in an orderly and efficient manner.
RESAAS has agreed to pay registrants that contact holders and facilitate the exercise of warrants a fee of 3% of warrant proceeds actually received through the Programme.
Depending upon the number of Warrants exercised during the early exercise period, RESAAS expects to receive gross proceeds of up to $1,369,650 on or before the expiry date of the Warrants.
The Programme is subject to the receipt of all final regulatory approvals, including the approval of the CNSX.
About RESAAS SERVICES INC.
RESAAS is an enterprise social network for real estate professionals, mortgage specialists, home buyers and sellers to connect and communicate in real-time. Visit www.resaas.com or on Twitter: @resaas (http://twitter.com/resaas)
On Behalf of the Board
Cameron Shippit Director, CFO and Secretary, RESAAS Services Inc. Telephone: (778) 996-9544 Email: email@example.com
Neither the CNSX nor the Market Regulator (as defined in CNSX Policy 1) accepts responsibility for the adequacy or accuracy of this release.
This press release includes forward-looking information within the meaning of Canadian securities legislation, concerning the expected functionality of RESAAS' technology platform following its launch. The forward-looking information is based on certain key expectations and assumptions made by RESAAS' management, including that the Company expects to receive up to $1,369,650 on or before the expiry date of the Warrants. Although RESAAS believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because RESAAS can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and RESAAS disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. ###
To view this press release as a webpage, please click on the following link: http://www.usetdas.com/pr/resaas06152012.htm
Provider ID: 00019869 -0- Jun/15/2012 19:21 GMT