Financial News

WeCommerce Announces $30 Million Bought Deal Financing

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VICTORIA, British Columbia, June 15, 2021 (GLOBE NEWSWIRE) — WeCommerce Holdings Ltd. (TSXV:WE) (“WeCommerce” or the “Firm”), is happy to announce that the Firm has entered into an settlement with a syndicate of underwriters led by TD Securities Inc. and Canaccord Genuity Corp. (the “Joint Bookrunners” and collectively the “Underwriters”), pursuant to which the Underwriters have agreed to buy, in mixture, 2,500,000 widespread shares (the “Shares”) of WeCommerce, at a worth of $12.00 per Share (the “Providing Value”) and supply them to the general public by the use of brief type prospectus for complete gross proceeds of roughly $30 million (the “Providing”).

As well as, the Firm has additionally granted the Underwriters an over‐allotment choice (the “Over-Allotment Possibility”) to buy as much as an extra 375,000 Shares from treasury (representing 15% of the Providing) on the Providing Value exercisable in entire or partially for a interval of 30 days following the closing of the Providing. If the Over-Allotment Possibility is exercised in full, the gross proceeds can be roughly $34.5 million.

The Firm additionally introduced that two vital shareholders of the Firm, Tiny Capital Ltd. (“Tiny”) and Freemark Companions Holding Firm (“Freemark”) (collectively, the “Personal Sale Purchasers”) have agreed to enter into a non-public sale settlement with Ben Moore at present CEO of the Firm’s subsidiary, Pixel Union Design Ltd. to buy from Moore an mixture of 41,667 Shares on the similar worth per Share because the Providing Value (the “Concurrent Personal Sale”).

Tiny is an organization of which Andrew Wilkinson (Chairman of the Firm) holds an approximate 80% controlling curiosity and Chris Sparling (CEO of the Firm) holds an approximate 20% minority (non-controlling) curiosity. Freemark is an extended standing vital shareholder of the Firm. Upon closing of the Concurrent Personal Sale however with out giving impact to the Providing, Wilkinson, Freemark and Ben Moore will management roughly 32%, 12% and three% of shares excellent. No fee or different price can be paid in reference to the Concurrent Personal Sale. 

The online proceeds from the Providing can be utilized by the Firm to fund strategic acquisitions and for common company functions. The Firm is not going to obtain any proceeds from the Concurrent Personal Sale.

The Providing and the Concurrent Personal Sale are anticipated to shut on or about July 7, 2021 and is topic to sure circumstances together with, however not restricted to, the receipt of all needed approvals together with approval of the TSXV. Closing of the Providing isn’t conditional on closing of the Concurrent Personal Sale and shutting of the Concurrent Personal Sale isn’t conditional on closing of the Providing.

The Shares to be issued underneath the Providing can be supplied by the use of a brief type prospectus in every of the Provinces of Canada and could also be supplied on the market in the US to Certified Institutional Patrons (as outlined in Rule 144A underneath the United States Securities Act of 1933, as amended (the “1933 Act”) by the use of non-public placement pursuant to an exemption from the registration necessities of the 1933 Act.

The securities supplied haven’t been and won’t be registered underneath the 1933 Act, as amended, or relevant state securities legal guidelines, and is probably not supplied or offered in the US absent registration or an relevant exemption from the registration necessities. This information launch shall not represent a proposal to promote or the solicitation of a proposal to purchase any securities in any jurisdiction.

About WeCommerce Holdings Ltd.:

WeCommerce is a holding firm that owns a household of firms and types within the Shopify companion ecosystem, together with Pixel Union, Out of the Sandbox, Yopify, SuppleApps, Rehash, Foursixty and Stamped. The Firm’s major focus is to construct, develop and purchase companies that serve the Shopify Associate ecosystem. These companies consist largely of Software program as a Service, Digital Items and Companies companies. Typically, these companies construct Apps and Themes and run Companies that help Shopify retailers.

WeCommerce is concentrated on buying companies with development potential, a sustainable aggressive benefit and which might be, or have the potential to grow to be, a frontrunner inside their specific market. The Firm targets companies inside the Shopify ecosystem resulting from its confidence within the Shopify platform, the fragmented nature of the ecosystem and the enticing economics that the companies usually exhibit. As certainly one of Shopify’s first companions since 2010, WeCommerce believes it’s effectively positioned to proceed to determine acquisition alternatives within the Shopify Associate ecosystem.

Cautionary Word Concerning Ahead-Wanting Info:

This press launch incorporates statements which represent “forward-looking statements” and “forward-looking data” inside the which means of relevant securities legal guidelines (collectively, “forward-looking statements”), together with statements concerning the plans, intentions, beliefs and present expectations of the Firm with respect to future enterprise actions and working efficiency. Ahead-looking statements are sometimes recognized by the phrases “might”, “would”, “may”, “ought to”, “will”, “intend”, “plan”, “anticipate”, “consider”, “estimate”, “anticipate” or comparable expressions and contains data concerning the Providing, the Concurrent Personal Sale, the Over-Allotment Possibility, the usage of proceeds from the Providing; the jurisdictions during which the Providing can be performed; and the closing of the Providing.

Such statements contain identified and unknown dangers, uncertainties, and different components which can trigger the precise outcomes, efficiency, or achievements of the Firm to be materially totally different from any future outcomes, efficiency, or achievements expressed or implied by such forward-looking statements or data, together with the Firm’s capability to acquire all needed regulatory approval to finish the Providing and the opposite components disclosed underneath “Danger Components” within the Annual Info Kind dated April 21, 2021.

Traders are cautioned that forward-looking statements are usually not primarily based on historic information however as an alternative replicate the Firm’s expectations, estimates or projections regarding future outcomes or occasions primarily based on the opinions, assumptions and estimates of administration thought of cheap on the date the statements are made. Though the Firm believes that the expectations mirrored in such forward-looking statements are cheap, such statements contain dangers and uncertainties, and undue reliance shouldn’t be positioned thereon, as unknown or unpredictable components may have materials hostile results on future outcomes, efficiency or achievements of the Firm. Among the many key components that might trigger precise outcomes to vary materially from these projected within the forward-looking statements are the next: modifications normally financial, enterprise and political circumstances, together with modifications within the monetary markets; modifications in relevant legal guidelines and laws each domestically and in international jurisdictions; compliance with in depth authorities regulation; the dangers and uncertainties related to international markets. These forward-looking statements could also be affected by dangers and uncertainties within the enterprise of the Firm and common market circumstances, together with COVID-19.

Ought to a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes might range materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated. Though the Firm has tried to determine necessary dangers, uncertainties and components which may trigger precise outcomes to vary materially, there could also be others that trigger outcomes to not be as anticipated, estimated or meant and such modifications might be materials. The Firm doesn’t intend, and don’t assume any obligation, to replace the forward-looking statements besides as in any other case required by relevant legislation.

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.


Alex Persson, President

Supply: WeCommerce Holdings Ltd.

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