FSC / Press Release
RESAAS Announces Close of $819,060 Private Placement (First Tranche)
Vancouver, British Columbia CANADA, July 31, 2013 /FSC/ - RESAAS Services Inc.
(RSS - CNSX),(the "RESAAS") announces the closing on July 31, 2013 of the first
tranche of a non-brokered private placement (the "Private Placement") that
raised gross proceeds of CAD$819,060 through the sale of an aggregate of 744,600
units (the "Units") sold at the offering price of $1.10 per Unit. Each Unit
consists of one common share of RESAAS and one-half of a share purchase warrant.
Each whole warrant (a "Warrant") will entitle the holder to acquire one
additional common share of RESAAS at an exercise price of $1.50 per share for a
period of 18 months after the date of issuance of the Warrant. The Private
Placement was previously announced by RESAAS in a news release dated June 25,
Also with respect to the Private Placement, finder's fees were paid to certain
finders, being 10% of the gross amount of Units sold to investors in the Private
Placement, payable in finder's warrants with each finder's warrant entitling the
holder to acquire one common share of RESAAS at an exercise price of $1.10 per
common share for a period of 18 months after the date of issuance of the
finder's warrant, and 8% of the gross proceeds raised from the Private
Placement, payable in cash. A total of 74,460 finder's warrants have been
issued and $65,542.80 has been paid to date in respect of finder's fees pursuant
to the Private Placement.
RESAAS intends to use the proceeds from the issuance of these securities
primarily for expansion of the RESAAS platform into Europe.
All of the securities issued pursuant to the Private Placement are subject to a
four month hold period.
About RESAAS SERVICES INC.
RESAAS is the real estate social network designed specifically for the real
estate professional to connect and communicate in real-time. Known as real
estate broadcasts, RESAAS' powerful reblasts(r) engine automatically generates
all of your real estate workflow into invaluable social content that is
instantly pushed out to the RESAAS platform and other social networks. Visit
On Behalf of RESAAS
RESAAS Services Inc.
Telephone: (604) 558-2929; Email: firstname.lastname@example.org
RESAAS Services Inc.
Telephone: (705) 888-2756; Email: email@example.com
The CNSX has not reviewed, nor approved or disapproved the content of this press
This press release and the company's website referenced herein may include
forward-looking information within the meaning of Canadian securities
legislation, concerning the company's proposed use of funds generated by its
recent private placement and its technology platform. Forward-looking
information is based on certain key expectations and assumptions made by RESAAS'
management, including future plans for the completion of the proposed use of
funds generated by its recent private placement, as well as the design and
development of the company's technology platform. 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. Forward-looking statements contained in this press release are made as
of the date of this press release. 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.
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.
To view the press release as a PDF file, please click on the following link:
Source: RESAAS Services Inc. (CNSX: RSS) http://www.resaas.com
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-0- Jul/31/2013 19:20 GMT
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