Mr. Martijn van den Bemd reports
ADCORE ANNOUNCES MARKETED PUBLIC OFFERING
Adcore Inc. is commencing a marketed offering of units of the company. Each unit will consist of one common share of the company and one-half of one common share purchase warrant.
In connection with the offering, the company has filed a preliminary supplement to its short form base shelf prospectus dated May 10, 2021, with the securities commissions or similar regulatory authorities in each of the provinces and territories of Canada, other than Quebec.
The total size of the offering, as well as certain other terms of the units and the warrants (including the term and the exercise price of each warrant), will be determined in the context of the market at the time of pricing. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The closing of the offering will be subject to market and other customary conditions, including requirements of the Toronto Stock Exchange.
Canaccord Genuity Corp. is acting as lead underwriter for the offering.
The net proceeds from the offering will be used for sales and marketing, research and development, and general corporate purposes.
The company also intends to grant the underwriters an option to cover overallotments and for market stabilization purposes, exercisable at any time up to 30 days subsequent to the closing of the offering, to purchase up to an additional 15 per cent of the units pursuant to the offering on the same terms and conditions of the offering. The overallotment option will be exercisable to acquire units, common shares and/or warrants comprising the units (or any combination thereof) at the discretion of the underwriters.
The company will use commercially reasonable efforts to obtain the necessary approvals to list the warrants on the Toronto Stock Exchange.
The closing of the offering is expected to occur on or about June 16, 2021, and is subject to the company receiving all necessary regulatory approvals.
Copies of the preliminary supplement and the base shelf prospectus can be obtained on SEDAR and from Canaccord Genuity at 2100, 609 Granville St., Vancouver, B.C., V7Y 1H2. The preliminary supplement and the base shelf prospectus contain important detailed information about the company and the proposed offering. Prospective investors should read the preliminary supplement, the base shelf prospectus and the other documents the company has filed on SEDAR before making an investment decision.
About Adcore Inc.
Adcore is empowering entrepreneurs, advertisers and the future of e-commerce through its advertising management and automation platform. By combining extensive industry knowledge and experience with its proprietary artificial intelligence engine, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising, and monitoring and analyzing the performance of their advertising budget to ensure maximum return on investment. In addition to being named numerous times on Deloitte's Fast 50 technology list, Adcore is a certified Google premier partner, Microsoft partner, Facebook partner and TikTok partner.
Established in 2006, the company employs over 50 people in its headquarters in Tel Aviv, Israel, and satellite offices in Toronto, Canada, Melbourne, Australia, and Hong Kong and Shanghai, China.
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