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Adcore Inc
Symbol ADCO
Shares Issued 58,848,397
Close 2021-06-17 C$ 1.29
Recent Sedar Documents

Adcore closes $4.12-million unit offering

2021-06-17 12:49 ET - News Release

Mr. Martijn van den Bemd reports

ADCORE ANNOUNCES CLOSING OF MARKETED OFFERING

Adcore Inc. has closed its previously announced marketed offering of units of the company. The company issued 3.1 million units at $1.33 per unit for gross proceeds of $4,123,000.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant is 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 warrants will begin trading on the Toronto Stock Exchange today under the symbol ADCO.WT.

The offering was completed through a syndicate of underwriters led by Canaccord Genuity Corp., as sole bookrunner, and including Echelon Wealth Partners Inc., Roth Canada ULC and Haywood Securities Inc.

The offering was made by way of a prospectus supplement dated June 11, 2021, to the company's existing short form base shelf prospectus dated May 10, 2021. The prospectus has been filed with the securities commissions in each of the provinces and territories of Canada and is available on SEDAR.

The company expects to use the net proceeds from the offering for sales and marketing, research and development, and general corporate purposes, as more particularly described in the prospectus.

The company has granted to 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 units on the same terms and conditions of the offering for additional gross proceeds of up to $618,450. The overallotment option is exercisable to acquire units, common shares and/or warrants comprising the units (or any combination thereof), at the discretion of the underwriters. In connection with the offering, the company has issued 217,000 compensation warrants to the underwriters. Each compensation warrant is exercisable to acquire one common share at an exercise price of $1.33 for a period of 24 from the closing of the offering, subject to adjustment in certain events.

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 greater than 50 people at its headquarters in Tel Aviv, Israel, and satellite offices in Melbourne, Australia, Toronto, Canada, and Hong Kong and Shanghai, China.

We seek Safe Harbor.

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