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Perk Labs Inc
Symbol PERK
Shares Issued 141,710,289
Close 2020-07-29 C$ 0.065
Recent Sedar Documents

Perk Labs arranges $2M at-the-market equity program

2020-07-29 10:25 ET - News Release

Mr. Jonathan Hoyles reports

PERK LABS ANNOUNCES AT-THE-MARKET EQUITY PROGRAM

Perk Labs Inc. has established an at-the-market (ATM) equity program that allows the company to issue and sell up to $2-million of common shares in the capital of the company from treasury to the public, from time to time, at the company's discretion. All common shares sold under the ATM program will be sold through the Canadian Securities Exchange or another Canadian marketplace (as defined in National Instrument 21-101, Marketplace Operation) upon which the common shares are listed, quoted or otherwise traded at the prevailing market price at the time of sale.

"The financing proceeds will strengthen our balance sheet and allow us to expand our sales and marketing efforts into new territory. We are also well positioned to grow the number of users and merchants that are using our all-in-one mobile ordering, contact-free payments and loyalty app," commented Jonathan Hoyles, Perk Labs' chief executive officer. "ATM programs provide an excellent vehicle for raising capital because it can be timed to capital needs and favourable market price movements, can be implemented as needed with discretion on price and size, and provides immediate access to capital."

The ATM program is designed to provide the company with additional financing flexibility should it be required in the future. The volume and timing of distributions under the ATM program, if any, will be determined in the company's sole discretion. Distributions of the common shares under the ATM program will be made pursuant to the terms of an equity distribution agreement dated July 28, 2020, entered into between the company and Echelon Wealth Partners Inc.

The ATM program will be effective until the earlier of the: (i) issuance and sale of all of the common shares issuable pursuant to the ATM program; or (ii) ATM program being terminated by the company or the agent in accordance with the terms of the distribution agreement. Perk Labs intends to use the net proceeds from the ATM program, if any, for investment in sales and marketing initiatives, to continue development of the Perk Hero app, entering into new verticals, and for general working capital purposes. As common shares distributed under the ATM program will be issued and sold at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of the ATM program.

The offering of common shares under the ATM program is qualified by a prospectus supplement dated July 28, 2020, to the company's short form base shelf prospectus dated July 17, 2020, which were each filed with the applicable securities regulatory authorities in each of the provinces and territories of Canada. The prospectus supplement and the shelf prospectus are available under the company's profile on SEDAR. Alternatively, the agent will send copies of the prospectus supplement and the shelf prospectus upon request by contacting 1 Adelaide St. E, Suite 2100, Toronto, Ont., M5C 2V9; by e-mail at ecm@echelonpartners.com; or by telephone at 416-572-5523.

Borden Ladner Gervais LLP acted as legal counsel to the company and Goodmans LLP acted as legal counsel to the agent.

About Perk Labs Inc.

Perk Labs is the owner of Perk Hero, a digital loyalty management platform that enables merchants to provide their customers with digital rewards and a more engaging and convenient customer experience.

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