ApartmentLove Completes Second Tranche of Non-Brokered Private Placement

TORONTO, Sept. 01, 2023 (GLOBE NEWSWIRE) — ApartmentLove Inc. (CSE: APLV) (OTCQB: APMLF) (“ApartmentLove” or the “Company), a leading provider of online home, apartment, and vacation rental marketing services to property managers, owners, renters, and vacationers from around the world has closed the second tranche (the “Second Tranche“) of its previously announced non-brokered private placement of up to 3,500,000 units of the Company (“Units“) at a price of $0.15 per Unit for gross proceeds of up to $525,000 (the “Private Placement“). Under the Second Tranche, the Company issued an aggregate of 816,664 Units for gross proceeds of $122,499.60. Together with the first tranche of the Private Placement, the Company has raised aggregate gross proceeds of $297,499.65 and issued an aggregate of 1,983,331 Units.

Each Unit is comprised of: (i) one common share of ApartmentLove (a “Common Share“); and (ii) one half of one Common Share purchase warrant of ApartmentLove (each whole warrant, a “Warrant“). Each Warrant shall be exercisable to purchase one additional Common Share at an exercise price of $0.25 for a period of two years. Pursuant to applicable securities laws, all securities issued pursuant to the Private Placement will be subject to a 4 month and 1-day statutory hold period commencing from the date of issuance.

Fees were paid to certain finders in connection with the Second Tranche. Such fees were comprised of a cash portion of 7% of the gross proceeds received from persons introduced to the Company by such finders, as well as common share purchase warrants of ApartmentLove (each a “Broker Warrant“) in an amount equal to 7% of the Units subscribed for by persons introduced to the Company by such finders. Each Broker Warrant may be exercisable to purchase one additional Common Share of ApartmentLove at an exercise price of $0.25 for a period of two years from the date of issuance.

About ApartmentLove Inc.

ApartmentLove Inc. (CSE: APLV) (OTCQB: APMLF) is a leading provider of online home, apartment, and vacation rental marketing services to property managers, owners, renters, and vacationers in more than 30-countries around the world. Promoting more than 350,000 daily active homes, apartments, and vacation properties on its network of short-term and long-term rental marketing websites, ApartmentLove has proven its ability to scale as a fast-growing PropTech in today’s complex and dynamic markets. Seeking to consolidate the deeply fragmented internet listing industry, ApartmentLove has acquired multiple businesses that have many monthly active users, a history of recurring revenues, positive cashflows, and custom technologies that accelerate and destress the renting experience.

For more information visit https://apartmentlove.com/investors or contact:

Trevor Davidson        
President & CEO
ApartmentLove Inc.
tdavidson@apartmentlove.com
(647) 272-9702

Disclaimer and Reader Advisory

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

The securities offered pursuant to the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The CSE does not accept responsibility for the adequacy or accuracy of this news release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include but are not limited to the successful closing of subsequent tranches of the Private Placement; the receipt of all applicable regulatory approvals in respect of the Private Placement, if required. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Risk factors can also be found in the Company’s continuous disclosure documents which have been filed on SEDAR and can be accessed at www.sedar.com. Because of the risks, uncertainties, and assumptions contained herein, investors should not place any undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.