Mr. Doug Vickerson reports
RENOWORKS ENGAGES SOPHIC CAPITAL FOR CAPITAL MARKETS ADVISORY AND INVESTOR RELATIONS SERVICES AND GRANT ADDITIONAL OPTIONS
Renoworks Software Inc. has entered into a capital markets advisory agreement with Sophic Capital Inc. to provide investor relations services to the company. Sophic Capital will assist the company in the preparation of an investor communications plan, investor materials, news releases, road shows and conference calls.
"As we continue to scale and deliver consistent financial performance, we recognize the importance of increasing our visibility with investors," said Doug Vickerson, chief executive officer of Renoworks. "Our sustained growth reflects the strength of our business model and as we look ahead to 2025 and beyond, now is the right time to engage Sophic Capital. Their expertise will be instrumental in helping us communicate our story, as well as execute a sound capital markets strategy to support our next phase of expansion."
"Renoworks is a growing and innovative company with experienced leadership, a unique technology adopted by industry leaders, and has a significant market opportunity," said Sean Peasgood, president and chief executive officer of Sophic Capital. "We believe that its progress has been underappreciated by investors, and we've started assembling a strategy to bring greater awareness to Renoworks' story and drive long-term value creation for shareholders."
The agreement is for a term of 12 months, commencing on June 16, 2025. In consideration for Sophic Capital's services, the company will pay Sophic $8,000 per month and will reimburse Sophic Capital for expenses approved by the company in advance in writing. In addition, the company will grant to Sophic Capital 100,000 stock options. The options vest in equal instalments over 12 months, have a five-year term and an exercise price of 33.5 cents. These options expire June 15, 2030, and are governed by the company's stock option plan.
In addition, Renoworks announced that on June 16, 2025, the company issued 375,000 stock options to officers and directors of the company. The options vest equally over three years, have a five-year term and an exercise price of 33.5 cents. These options expire June 15, 2030, and are governed by the company's stock option plan. This brings the total number of options outstanding to 3,361,167 or 8.3 per cent of outstanding shares.
About Sophic Capital
Inc.
Sophic Capital is a full-service capital markets advisory and investor relations firm for public and private growth companies. It specializes in developing complete capital markets strategies for companies across all stages of development and all sectors of the market. Its team collectively has more than 50 years of experience in capital markets and relevant industry sectors spanning multiple jurisdictions. The versatility and relationships Sophic Capital brings enable it to deliver extensive, customized and actionable strategies for early-stage growth companies. Sophic Capital's depth of knowledge in the technology, clean technology and industrial markets, combined with decades of experience working in the capital markets and industry, makes Sophic Capital an ideal partner to help lower your cost of capital and accelerate your growth.
About Renoworks
Software Inc.
Renoworks Software develops and sells unique digital visualization software and integration solutions for the remodelling and new home construction industry. Renoworks delivers its technology to manufacturers, contractors, builders and retailers offering solutions to one of the home improvement industry's greatest challenges: enabling homeowners to review their product selections in a hyperrealistic, virtual environment before committing to purchases and construction. Renoworks markets its technologies as an innovative engagement, sales and marketing platform, and generates revenues from five main business lines: Renoworks Enterprise, Renoworks PRO, Renoworks Design Services, Renoworks FastTrack and Renoworks API (application programming interface).
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