RESAAS Announces $3.5 Million USD Private Placement of Convertible Debenture Units

VANCOUVER, BC, Jan. 11, 2022 /CNW/ - RESAAS Services Inc. (TSXV: RSS) (OTCQB: RSASF), ("RESAAS" or the "Company"), a technology platform for the real estate industry, is pleased to announce a non-brokered private placement of up to $3,500,000 USD aggregate principal amount of convertible debenture units (the "Offering").

Each Convertible Debenture Unit will convert into the Company's common stock at the higher of 50% premium to the closing price on the date of execution of the Offering, or a 35% discount to the closing price on the date of uplist to a senior American stock exchange, such as NASDAQ.

In conjunction with the Offering, the Company has appointed Spartan Capital Securities, a New York based full-service, integrated financial services firm.

The Company intends to use the net proceeds of the Offering for growth capital, along with general corporate purposes as the Company prepares to uplist.

The Offering is subject to regulatory approval, including that of the Toronto Venture Stock Exchange.

About RESAAS Services Inc.

RESAAS is a technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis. Visit www.resaas.com for more information.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from RESAAS Services Inc.'s expectations and projections.

SOURCE RESAAS SERVICES INC.

Investor Relations: Greg Falesnik or Brooks Hamilton, MZ Group - MZ North America, [phone], [email protected]; Don Mosher, RESAAS Services Inc., [phone], [email protected]