Connect with us

Business

WeCommerce Announces Closing of Financing for Deals Purchased for $ 33.7 Million

Published

on

WeCommerce Announces Closing of Financing for Deals Purchased for $ 33.7 Million

Article content

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWS WIRE SERVICES OR FOR BROADCAST IN THE UNITED STATES

VICTORIA, British Columbia – WeCommerce Holdings Ltd. (TSXV: WE) (“WeCommerce” or the “Company”) is pleased to announce that the Company has closed its previously announced purchase agreement financing (the “Offer”).

The Company issued a total of 2,810,000 class A common shares (the “Shares”) of WeCommerce, at a price of $ 12.00 per Share (the “Offer Price”), which included 310,000 Shares issued pursuant to the partial exercise of the allocation option, for gross income of approximately $ 33.7 million.

Commercial

Article content

The Shares were offered in a purchase agreement by a syndicate of underwriters led by TD Securities Inc. and Canaccord Genuity Corp. (the “Primary Underwriters”) and Raymond James Ltd. and Stifel Nicolaus Canada Inc. (together with the primary underwriters, the “subscribers”).

In connection with the offering, the company paid subscribers a cash fee of 6% of the total gross proceeds earned from the offering.

The company intends to use the net proceeds from the offering for strategic acquisitions and for working capital and general corporate purposes.

The Company previously announced that two major shareholders of the Company, Tiny Capital Ltd. and Freemark Partners Holding Company (collectively the “Private Sale Buyers”) have agreed to enter into a private sale agreement with Ben Moore, currently CEO of the Company. the company’s subsidiary, Pixel Union Design Ltd., will purchase a total of 41,667 shares from Moore at the same price per share as the offer price (the “private sale”). The private sale is expected to close in the next few days.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, as amended, or applicable state securities laws, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase securities in any jurisdiction.

About WeCommerce Holdings Ltd .:

WeCommerce is a holding company that owns a family of companies and brands in the Shopify partner ecosystem, including Pixel Union, Out of the Sandbox, Yopify, SuppleApps, Rehash, Foursixty, and Stamped. The Company’s primary focus is to build, grow and acquire businesses that serve the Shopify Partner ecosystem. These businesses consist primarily of Software as a Service, Digital Goods and Services businesses. These companies generally build apps and themes and run agencies that support Shopify merchants.

WeCommerce focuses on acquiring businesses with growth potential, a sustainable competitive advantage and that are, or have the potential to become, leaders within their particular market. The Company targets businesses within the Shopify ecosystem due to its reliance on the Shopify platform, the fragmented nature of the ecosystem, and the attractive economics that businesses generally exhibit. As one of the first Shopify partners since 2010, WeCommerce believes that it is well positioned to continue identifying acquisition opportunities in the Shopify partner ecosystem.

Commercial

Article content

Cautionary Note Regarding Forward Looking Information:

This press release contains statements that constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding current plans, intentions, beliefs, and expectations. . of the company with respect to future business activities and operational performance. Forward-looking statements are often identified with the words “could”, “could”, “could”, “should”, “will do”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “Wait” or similar expressions and includes information about the use of the proceeds of the offer; and the timing of the closing of the private sale.

Such statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements or information, including the Company’s ability to obtain all necessary regulatory approval to complete the Offer and the other factors disclosed in “Risk Factors” in the Annual Information Form dated April 21, 2021.

Investors are cautioned that forward-looking statements are not based on historical facts, but rather reflect the Company’s expectations, estimates or projections with respect to future results or events based on the opinions, assumptions and estimates of management that are made. considered reasonable as of the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and should not be placed undue reliance on them, as unknown or unpredictable factors could have material adverse effects on the results, performance or future achievements. of the company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: changes in general economic, business and political conditions, including changes in financial markets; changes in laws and regulations applicable both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets. These forward-looking statements may be affected by risks and uncertainties in the Company’s business and general market conditions, including COVID-19.

Commercial

Article content

If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking statements prove to be incorrect, actual results may vary materially from those described in as anticipated, planned, anticipated, believed, estimated or expected. Although the company has tried to identify significant risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results to be different from those anticipated, estimated or anticipated and such changes could be material. The company does not intend, and does not undertake any obligation, to update any forward-looking statements, except where required by applicable law.

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

View the source version on businesswire.com: https://www.businesswire.com/news/home/20210707005560/en/

logo

Contacts:

Alex Persson, Acting President and Chief Financial Officer
alex@wecommerce.co

#distro

Commercial

Comments

Postmedia is committed to maintaining a lively but civilized discussion forum and encourages all readers to share their views on our articles. Comments can take up to an hour to moderate before appearing on the site. We ask that you keep your comments relevant and respectful. We have enabled email notifications – you will now receive an email if you receive a response to your comment, there is an update from a comment thread you follow, or if a user you follow comments. Visit our Community Principles for more information and details on how to adjust your E-mail settings.

Advertisement
Advertisement

Lifestyle

LifeStyle9 hours ago

5 Tips To Write Your Essays Before the Deadline

Deadlines are not easy to deal with. When there is an approaching deadline, one tends to get overwhelmed at the...

LifeStyle2 weeks ago

How to Prioritize Self Care as a New Parent

A bundle of joy has joined you in your life and you couldn’t be happier. But, at the same time,...

LifeStyle2 weeks ago

5 Reasons Why You Can’t Stay Asleep

You have likely heard it most of your life: getting a good night’s sleep is important for your overall health....

LifeStyle2 weeks ago

4 Ways to Spread Joy This Fall

Traditionally, many people strive to spread as much joy as they can in the weeks leading up to Christmas. But...

LifeStyle1 month ago

Tips to Boost Your Energy and Ensure Life Longevity with NMN Supplements

Australia’s median age limit increased by two years recently. Higher NAD+ can improve your metabolism rates and prolong natural aging....

LifeStyle2 months ago

5 Tips on Writing APA Research Paper

When students reach college education, they understand that it won’t all be flowers and sunshine. There are different courses with...

Support group for businesses to overcome challenges Support group for businesses to overcome challenges
LifeStyle3 months ago

Support group for businesses to overcome challenges

All-day brunch and soup kitchen Cafe Coco suffered as walk-ins dwindled significantly. It’s a tourist-dependent cafe that’s nestled in the...

S’pore startup Shiok Meats acquires clean red meat company Gaia Foods S’pore startup Shiok Meats acquires clean red meat company Gaia Foods
LifeStyle3 months ago

S’pore startup Shiok Meats acquires clean red meat company Gaia Foods

According to Technology in Asia, Shiok Meats has acquired a stake of more than 90% in Gaia Foods for an...

Marianna Hewitt’s home proves that neutral decor can be full of personality Marianna Hewitt’s home proves that neutral decor can be full of personality
LifeStyle3 months ago

Marianna Hewitt’s home proves that neutral decor can be full of personality

If anyone understands the importance of maintaining your brand, it is Marianna Hewitt. The trusted influencer and founder of the...

The 16 best stuffed pepper recipes for every occasion The 16 best stuffed pepper recipes for every occasion
LifeStyle3 months ago

The 16 best stuffed pepper recipes for every occasion

Something you may not know about me is that I absolutely adore a pepper. Raw, cooked, marinated, bathed: each and...

Advertisement

Sport

Sports2 months ago

5 Tips for Setting Up Your PC for Online Gaming

Due to advances in technology, online gamers can enjoy a gaming experience that was unthinkable even a decade ago. High-resolution...

Sports2 months ago

How to Succeed in Poker Tournaments

Perhaps your first big poker tournament is coming up, or you’ve been gathering skills ready to enter – no matter...

Sports2 months ago

Is The Olympics Still Relevant?

As the Tokyo Olympics has come to a close, competitors must move on from the excitement of experiencing an Olympic...

Fernández reflects on the game against Dart: ‘Honestly, I can’t think of anything positive’ Fernández reflects on the game against Dart: ‘Honestly, I can’t think of anything positive’
Sports3 months ago

Fernández reflects on the game against Dart: ‘Honestly, I can’t think of anything positive’

var adServerUrl = “”; var $ el = $ (“# video_container-985707”); var permalink = $ el.closest (‘. snet-single-article’). data (‘permalink’);...

Tammy Abraham to Roma – Mourinho is the perfect coach for the striker Tammy Abraham to Roma – Mourinho is the perfect coach for the striker
Sports3 months ago

Tammy Abraham to Roma – Mourinho is the perfect coach for the striker

It seems that not too long ago, a young English Target Man was a troubling prospect for most Premier League...

Explanation: Why Barcelona had to let Messi go Explanation: Why Barcelona had to let Messi go
Sports3 months ago

Explanation: Why Barcelona had to let Messi go

Barcelona’s Argentine forward Lionel Messi cries during a press conference at Barcelona’s Camp Nou stadium on August 8, 2021. –...

Are Arsenal and Spurs left out of the top 6 in dispute as the 2021/22 season approaches? Are Arsenal and Spurs left out of the top 6 in dispute as the 2021/22 season approaches?
Sports3 months ago

Are Arsenal and Spurs left out of the top 6 in dispute as the 2021/22 season approaches?

Manchester United, Manchester City, Liverpool, Chelsea, Spurs and Arsenal are the teams that are widely regarded as the top 6...

What should team Canada’s men’s hockey roster look like? What should team Canada’s men’s hockey roster look like?
Sports3 months ago

What should team Canada’s men’s hockey roster look like?

We have sent an email with instructions to create a new password. Your current password has not been changed. We...

Haaland, but staying in Dotmund, can BVB get the title on 21/22? Haaland, but staying in Dotmund, can BVB get the title on 21/22?
Sports3 months ago

Haaland, but staying in Dotmund, can BVB get the title on 21/22?

There are almost twenty days left in the transfer window. The window is in full swing as deals that would...

Knicks agree to deal with Dwayne Bacon: reports Knicks agree to deal with Dwayne Bacon: reports
Sports3 months ago

Knicks agree to deal with Dwayne Bacon: reports

Dwayne Bacon # 8 of the Orlando Magic shoots as John Collins # 20 of the Atlanta Hawks defends during...

Advertisement

Entertainment

Venice adds Doc ‘Ennio’;  Netflix Confirms Sanjay Leela Bhansali Series – News Block Venice adds Doc ‘Ennio’;  Netflix Confirms Sanjay Leela Bhansali Series – News Block
Entertainment3 months ago

Venice adds Doc ‘Ennio’; Netflix Confirms Sanjay Leela Bhansali Series – News Block

Venice adds Giuseppe Tornatore’s Ennio Morricone film The Venice Film Festival incorporates the Out of Competition screening of Ennio Morricone’s...

The Jeffrey Epstein Victims Fund has finished paying $ 121 million The Jeffrey Epstein Victims Fund has finished paying $ 121 million
Entertainment3 months ago

The Jeffrey Epstein Victims Fund has finished paying $ 121 million

After awarding more than $ 121 million to about 150 applicants, a compensation program for survivors of Jeffrey Epstein’s sexual...

Matt Roloff and Karyn Chandler move in together, discuss marriage Matt Roloff and Karyn Chandler move in together, discuss marriage
Entertainment3 months ago

Matt Roloff and Karyn Chandler move in together, discuss marriage

Small people, big world star Matt Roloff and his girlfriend, Karyn Chandlerhave revealed their big summer plans in a new...

Mike Shouhed wants Reza Farahan to apologize for being a ‘traitor’ Mike Shouhed wants Reza Farahan to apologize for being a ‘traitor’
Entertainment3 months ago

Mike Shouhed wants Reza Farahan to apologize for being a ‘traitor’

Shouhed says his Shahs of Sunset co-star “cuts deep and says things that are hard to forgive.” While a sexting...

Joey Lawrence and Samantha Cope are engaged Joey Lawrence and Samantha Cope are engaged
Entertainment3 months ago

Joey Lawrence and Samantha Cope are engaged

He put a ring on it! Joey lawrence is engaged to the actress Samantha cope one year after filing for...

Christine Applegate was diagnosed with multiple sclerosis Christine Applegate was diagnosed with multiple sclerosis
Entertainment3 months ago

Christine Applegate was diagnosed with multiple sclerosis

August 10, 2021 Christine Applegate was diagnosed with multiple sclerosis (MS). Christina Applegate The 49-year-old actress took to Twitter on...

UK advertisers form tapestry with clients Coel, Fassbender, Foy – News Block UK advertisers form tapestry with clients Coel, Fassbender, Foy – News Block
Entertainment3 months ago

UK advertisers form tapestry with clients Coel, Fassbender, Foy – News Block

EXCLUSIVE: UK advertisers Donna Mills and Emma Jackson, longtime representatives of London-based Premier Communications, have launched the new advertising agency...

Christina Applegate: actress reveals multiple sclerosis diagnosis Christina Applegate: actress reveals multiple sclerosis diagnosis
Entertainment3 months ago

Christina Applegate: actress reveals multiple sclerosis diagnosis

prime time Emmy-winning actor Christina applegate has revealed a multiple sclerosis condition through a Twitter post late on Monday night....

Prince Harry and Meghan Markle wanted to move to New Zealand in 2018 Prince Harry and Meghan Markle wanted to move to New Zealand in 2018
Entertainment3 months ago

Prince Harry and Meghan Markle wanted to move to New Zealand in 2018

Prince harry and Meghan Markle according to Queen Elizabeth IIRepresentative to New Zealand, Governor General Patsy Reddy… She said Associated...

Alarming new UN climate report says humanity has really screwed itself up Alarming new UN climate report says humanity has really screwed itself up
Entertainment3 months ago

Alarming new UN climate report says humanity has really screwed itself up

The last evaluation of climate science is a “code red for humanity,” the United Nations chief said on Monday, while...

Advertisement

Tech

Tech1 week ago

How to Provide Cybersecurity for Firefox

Mozilla Firefox is one of the first browsers that come to mind when thinking about the best privacy-oriented browsers available...

Tech4 weeks ago

6 Important Questions to Ask Your Internet Provider

Choosing the best internet provider can be challenging, especially when you don’t know what questions to ask. You want to...

Tech1 month ago

How Serious is Plagiarism in College?

Studying in college often demands writing essays and course papers. You may study technical subjects and do not have many...

Tech1 month ago

Three Possible Ways of How You Can Transfer Contacts from Outlook to iPhone

MS Outlook plays an important role in putting daily life in order, especially with regard to email management. If you...

Tech1 month ago

Importance of Email Validation

According to recent stats, 30% of users change their email every year. Therefore, if your mailing list is more than...

Tech1 month ago

Before Doing Virtual Staging, Here’s What You Should Know

The majority of people today go online to look for homes. When a potential buyer spots a house online that...

Tech1 month ago

What Technologies are Online Casinos Using?

Online casinos have become an ideal choice for a lot of players, especially because they let players take their games...

Tech2 months ago

Grow Your Brand With These 5 Social Media Tips

Whether you’re operating a new business or working to grow your brand, social media is an excellent place to start....

Tech2 months ago

Is Mining Ethereum Still Profitable in 2021?

Globally, there have been lots of innovations and modernization in different aspects of life. This fact has contributed to the...

Tech2 months ago

Popularity Of the Blockchain Technology: How Familiar Are You with It?

Cryptocurrencies are a form of digital currency that stands out because it is decentralized. Cryptocurrency also stands out because it...

Advertisement
Advertisement