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Adcore Inc
Symbol ADCO
Shares Issued 58,848,397
Close 2021-06-10 C$ 1.43
Recent Sedar Documents

Adcore prices $4.12-million marketed unit offering

2021-06-11 09:25 ET - News Release

Mr. Martijn van den Bemd reports

ADCORE ANNOUNCES PRICING AND TERMS OF MARKETED OFFERING OF EQUITY UNITS

Adcore Inc. has priced its previously announced marketed offering of units of the company.

Pursuant to the offering, the company intends to issue 3.1 million units at a price of $1.33 per unit for gross proceeds of $4,123,000. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will be exercisable into one common share for a period of 24 months from the closing of the offering at an exercise price of $1.80, subject to adjustment in certain events.

The units will be offered in each of the provinces and territories of Canada, other than Quebec, pursuant to a prospectus supplement to the company's short-form base shelf prospectus dated May 10, 2021.

The offering is being conducted through a syndicate of underwriters led by Canaccord Genuity Corp. and including Echelon Wealth Partners Inc., Roth Canada, ULC and Haywood Securities Inc.

The net proceeds from the offering will be used for sales and marketing, research and development, and general corporate purposes.

The company has granted 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 465,000 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. If the overallotment option is exercised in full the total gross proceeds of the offering will be $4,741,450.

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 17, 2021, and is subject to the company receiving all necessary regulatory approvals.

Copies of the prospectus may be obtained on SEDAR and from Canaccord Genuity Corp., 2100, 609 Granville St., Vancouver, B.C., V7Y 1H2. The prospectus contains important detailed information about the company and the offering. Prospective investors should read the 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.

We seek Safe Harbor.

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