/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED
TORONTO, June 9, 2021 /CNW/ - Adcore Inc. ("Adcore"
or the "Company") (TSX: ADCO) (FSE: ADQ) a leading
e-commerce advertising management and automation platform to
leverage digital marketing in an effortless and accessible way
("Effortless Advertising"), is pleased to announce
that it is commencing a marketed offering (the "Offering")
of units (the "Units") of the Company. Each Unit will
consist of one common share of the Company (a "Common
Share") and one-half of one common share purchase warrant
(each whole purchase warrant, a "Warrant").
In connection with the Offering, the Company has filed a
preliminary supplement (the "Preliminary Supplement") to its
short form base shelf prospectus dated May
10, 2021 (the "Base Shelf Prospectus") with the
securities commissions or similar regulatory authorities in each of
the provinces and territories of Canada, other than Québec.
The total size of the Offering as well as certain other terms of
the Units and the Warrants (including the term and the exercise
price of each Warrant) will be determined in the context of the
market at the time of pricing. There can be no assurance as to
whether or when the Offering may be completed, or as to the actual
size or terms of the Offering. The closing of the Offering will be
subject to market and other customary conditions, including
requirements of the Toronto Stock Exchange.
Canaccord Genuity Corp. is acting as lead underwriter for the
The net proceeds from the Offering will be used for sales and
marketing, research and development and general corporate
The Company also intends to grant the underwriters an option
(the "Over-Allotment Option") to cover over-allotments 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 15% of the Units pursuant to the Offering on
the same terms and conditions of the Offering. The
over-allotment 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.
The Company will use commercially reasonable efforts to obtain
the necessary approvals to list the Warrants on the Toronto Stock
Exchange (the "TSX").
The closing of the Offering is expected to occur on or about
June 16, 2021 (the "Closing")
and is subject to the Company receiving all necessary regulatory
Copies of the Preliminary Supplement and the Base Shelf
Prospectus, can be obtained on SEDAR at www.sedar.com and from
Canaccord Genuity Corp., 2100, 609 Granville St, Vancouver BC V7Y 1H2. The Preliminary
Supplement and the Base Shelf Prospectus contains important
detailed information about the Company and the proposed Offering.
Prospective investors should read the Preliminary Supplement and
the Base Shelf Prospectus and the other documents the Company has
filed on SEDAR at www.sedar.com before making an investment
No securities regulatory authority has either approved or
disapproved of the contents of this press release. The Units,
Common Shares and Warrants have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws.
Accordingly, the securities described herein may not be offered or
sold within the "United States" or
to, or for the account or benefit of, a person in the "United States" or a "U.S. person" (as
such terms are defined in Regulation S under the U.S. Securities
Act) unless registered under the U.S. Securities Act and applicable
state securities laws or pursuant to exemptions from those
registration requirements. This news release does not constitute an
offer to sell or a solicitation of an offer to buy any securities
of Adcore in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
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 fifty people in
its headquarters in Tel Aviv,
Israel and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.
For more information about Adcore, please
This press release contains certain forward-looking statements,
including statements about the Company, the terms of the offering,
including the proposed closing date and the use of the net proceeds
of the Offering. Wherever possible, words such as "may", "will",
"should", "could", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict" or "potential" or the negative or
other variations of these words, or similar words or phrases, have
been used to identify these forward looking statements. These
statements reflect management's current beliefs and are based on
information currently available to management as at the date
Forward-looking statements involve significant risk,
uncertainties, and assumptions. Many factors could cause actual
results, performance, or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
These factors should be considered carefully, and readers should
not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press
release are based upon what management believes to be reasonable
assumptions, the Company cannot assure readers that actual results
will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this press
release, and the Company assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
A more complete discussion of the risks and uncertainties facing
the Company appears in the Preliminary Supplement and the Base
Shelf Prospectus, and in the Company's Annual Information Form and
other continuous disclosure filings, which are available on SEDAR
at www.sedar.com. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company disclaims any
intention or obligation, except to the extent required by law, to
update or revise any forward-looking statements as a result of new
information or future events, or for any other reason.
SOURCE Adcore Inc.