Clarocity Corporation Announces Closing of First Tranche of Debt Facility

  Clarocity Corporation Announces Closing of First Tranche of Debt Facility

  Canada NewsWire

  CALGARY, Dec. 6, 2017

CALGARY, Dec. 6, 2017 /CNW/ - Clarocity Corporation (TSXV:CLY; OTCQB:CLRYF)
(the " Company " or " Clarocity ") today announced that it has closed the
first tranche of the previously announced (see November 17, 2017 press
release) $2.5 million Debt Facility (" Facility 3.0 ") provided by StableView
Asset Management (" StableView ") on behalf of managed accounts and funds with
gross proceeds of $1,000,000.

Clarocity issued an aggregate amount of $1.1 million in principal amount of
debentures (" Debentures ") at a price of $100 per $100 principal amount of
Debenture. The Debentures will bear an interest rate of 24% per annum payable
quarterly in common shares (" Common Shares ") or cash, at the option of the
holder.  The Corporation or StableView may on 60 days notice require repayment
of the outstanding Debentures together with any accrued and/or unpaid
interest.  The Debentures have been guaranteed by the Company's wholly-owned
subsidiary, Valuation Vision, Inc. (the " Guarantor "), and have been secured
against all of the Company's and the Guarantor's property, assets and patents
and will be registered in all of the jurisdictions in which the Company and
the Guarantor carry on business.

In addition, the Company issued 3,333,334 common share purchase warrants ("
Warrants "). Each Warrant entitles the holder thereof to purchase one Common
Share in the capital of the Company at $0.10 per Common Share, exercisable
until November 14, 2018.

The Company also paid a drawdown fee of 10% of the amount drawn under the
Facility ($100,000) added to the principal amount of Facility 3.0 on each draw
down date.

The Company also agreed to amend the terms of existing Standby Facility (see
press release August 17, 2017, July 20, 2017, May 10, 2017 and August 31,
2016) by amending conversion price of Standby convertible debentures from
$0.16 to $0.10 per share.

The issuance of Debentures and Warrants to StableView is a related party
transaction under TSX Venture Exchange Policy 5.9 and Multilateral Instrument
61-101. The Company is relying on an exemption from the formal valuation and
minority approval provisions of Multilateral Instrument 61-101 in reliance on
sections 5.5(a) and 5.7(a) on the basis that the aggregate fair market value
of the transaction, insofar as interested parties are involved, does not
exceed 25% of the market capitalization of the Company.

The proceeds from the Facility will be used for general corporate purposes.
The transaction is subject to the submission of final documents and final
approval of the TSX Venture Exchange.

About Clarocity Corporation

Clarocity Corporation provides real estate valuation solutions and platform
technologies designed to address today's dynamic housing market. Our
innovative platform is driving the next-generation of valuation solutions such
as MarketValue Pro (MVP) and BPOMerge and setting new standards in real estate
valuation quality and reliability.

Every day GSE, banking, and investor clients rely on our proprietary solutions
to value assets, fund loans, and securitize portfolios. As a fully integrated
technology and valuation services company, Clarocity provides a full spectrum
of appraisal and alternative valuation solutions. For more information, visit
www.clarocity.com .

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.

Forward-Looking Information

This news release contains forward-looking statements which may include
financial and business prospects, as well as statements regarding the
Company's future plans, objectives or economic performance and financial
outlooks. Such statements are subject to risk factors associated with the real
estate industry, the overall economy in both Canada and the United States. The
Company believes that the expectations reflected in this news release are
reasonable but actual results may be affected by a variety of variables and
may be materially different from the results or events predicted in the
forward-looking statements. Readers are therefore cautioned not to place undue
reliance on these forward-looking statements. In evaluating forward-looking
statements readers should consider the risk factors which could cause actual
results or events to differ materially from those indicated by such
forward-looking statements. These forward-looking statements are made as of
the date hereof, and unless otherwise required by applicable securities laws,
the Company does not intend nor does it undertake any obligation to update or
revise any forward-looking statements.

This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities of the
Company will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act, and may not be offered or sold within
the United States or to, or for the account or benefit of U.S. persons except
in certain transactions exempt from the registration requirements of the U.S.
Securities Act)

SOURCE Clarocity Corporation

View original content:
http://www.newswire.ca/en/releases/archive/December2017/06/c8773.html

visit www.clarocity.com or contact: Shane Copeland, CEO, Clarocity
Corporation, 760-208-6460, scopeland@clarocity.com; Babak Pedram, Investor
Relations, Virtus Advisory Group Inc., 416-644-5081,
bpedram@virtusadvisory.com

For further information: visit www.clarocity.com or contact: Shane Copeland,
CEO, Clarocity Corporation, 760-208-6460, scopeland@clarocity.com; Babak
Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081,
bpedram@virtusadvisory.com

CO: Clarocity Corporation

ST: Alberta

NI: REL
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