EMERGE Commerce Ltd. Announces Upsizing of Private Placement Offering of Special Warrants Due to Strong Investor Demand

TORONTO, Feb. 22, 2021 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), is pleased to announce the increase of its previously announced private placement offering (the "Offering") of special warrants of the Company (the "Special Warrants"). Pursuant to the Offering, the Company expects to issue Special Warrants at a price of $1.40 per Special Warrant for total gross proceeds of up to $13,000,000.

Canaccord Genuity Corp. and Gravitas Securities Inc. are acting as co-bookrunners and co-lead agents for the Offering, together with Raymond James Ltd., as co-lead agent and Stifel Nicolaus Canada Inc. (together, the "Agents").

The Offering is expected to close during the week of March 8, 2021, or such other date as the Company and the Agents may agree (the "Closing Date"). Closing of the Offering will be subject to customary closing conditions, including the receipt of all necessary regulatory approvals.

In addition, the Company has granted the Agents an option exercisable in whole or in part, at any time up until 48 hours prior to the Closing Date, to increase the size of the Offering by up to 15% of the number of Special Warrants sold pursuant to the Offering, on the same terms and conditions as the Offering. 

The Company intends to use the net proceeds of the Offering for potential acquisitions, working capital and general corporate purposes.

About EMERGE: 

EMERGE is a disciplined, diversified, rapidly growing acquirer and operator of niche e-commerce brands across North America. Our network of e-commerce sites provides our members with access to groceries, golf, nearby escapes, and family offers. Our portfolio houses some of Canada's most coveted online destinations including trulocal.ca, UnderPar.com, WagJag.com, JustGolfStuff.ca, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.

To learn more, visit www.emerge-commerce.com.

Cautionary notice
Investors are cautioned that any information released or received with respect to the transactions described herein may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice regarding forward-looking statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information.  Actual results and developments may differ materially from those contemplated by these statements.  The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable).  Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's filing statement which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE EMERGE Commerce Ltd.

Investor Relations, James Bowen, CFA, EMERGE Commerce Ltd., 416-519-9442, [email protected]; Media Relations, Lauren Arnold, Talk Shop Media, [email protected]