ApartmentLove Completes First Tranche of Non-Brokered Private Placement

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, April 5, 2024 /CNW/ - ApartmentLove Inc. (CSE: APLV) ("ApartmentLove" or the "Company), a leading provider of online home, apartment, and vacation rental marketing services to property managers, owners, renters, and vacationers from around the world has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement of up to 7,500,000 units of the Company ("Units") at a price of $0.04 per Unit for gross proceeds of up to $300,000 (the "Private Placement"). Under the First Tranche, the Company issued an aggregate of 6,287,808 Units for gross proceeds of $251,512.32.

Each Unit is comprised of: (i) one common share of ApartmentLove (a "Common Share"); and (ii) one Common Share purchase warrant of ApartmentLove (a "Warrant"). Each Warrant shall be exercisable to purchase one additional Common Share at an exercise price of $0.05 for a period of two years from the date of the issuance of the Warrant.

Certain directors and officers of the Company participated in the Private Placement, either directly or indirectly, therefore the Private Placement constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 ? Protection of Minority Security Holders in Special Transactions ("MI 61-101"). In its consideration and approval of the Private Placement, the Company's Board of Directors determined that the Private Placement is exempt from the formal valuation and minority approval requirements of MI 61-101 on the basis that the fair market value of the Private Placement to related parties does not exceed 25% of the market capitalization of the Company, in accordance with Sections 5.5 and 5.7 of MI 61-101.

All the securities issued pursuant to the Private Placement are subject to a four-month restricted resale period under Canadian securities laws.

The Private Placement is subject to all necessary regulatory and stock exchange approvals, including but not limited to approval of the Canadian Securities Exchange (the "CSE").

ApartmentLove Inc. (CSE: APLV) is a leading provider of online home, apartment, and vacation rental marketing services to property managers, owners, renters, and vacationers in more than 30-countries around the world. Promoting more than 350,000 daily active homes, apartments, and vacation properties on its network of short-term and long-term rental marketing websites, ApartmentLove has proven its ability to scale as a fast-growing "PropTech" in today's complex and dynamic markets. Seeking to consolidate the deeply fragmented internet listing industry, ApartmentLove has acquired multiple businesses that have many monthly active users, a history of recurring revenues, positive cashflows, and custom technologies that accelerate and de-stress the renting experience.

Disclaimer and Reader Advisory

The securities offered pursuant to the Private Placement 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 U.S. state securities laws, and may not be offered or sold in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The CSE does not accept responsibility for the adequacy or accuracy of this news release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include but are not limited to the successful closing of the Private Placement, in one or more tranches; the receipt of all applicable required regulatory approvals in respect of the Private Placement, including but not limited to the approval of the CSE. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Risk factors can also be found in the Company's continuous disclosure documents which have been filed on SEDAR+ and can be accessed at www.sedarplus.com. Because of the risks, uncertainties, and assumptions contained herein, investors should not place any undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE ApartmentLove Inc.