Engagement Labs Inc.
TSX VENTURE : EL

Engagement Labs Inc.

March 02, 2015 16:48 ET

Engagement Labs To Raise Approximately $6.5 Million

TORONTO, ONTARIO--(Marketwired - March 2, 2015) - Engagement Labs Inc. (TSX VENTURE:EL) announced today that it intends to raise approximately $6.5 million by way of a private placement of $0.50 Units with Cormark Securities Inc. acting as Bookrunner and Lead Agent and including Beacon Securities Limited and Paradigm Capital Inc. as co-Agents, with First Republic Capital Corporation and PowerOne Capital Markets Limited being the primary participants in the selling group.

The Offering is comprised of approximately 13,000,000 Units at a subscription price of $0.50 per Unit, each Unit consisting of one common share and one-half of one common share purchase warrant, each whole warrant exercisable into one common share of the Company at a price of $0.75 per share for two years following closing. Aggregate compensation payable to the Agents (including any members of the selling group) consists of a cash commission equal to eight percent of the Offering plus brokers' compensation warrants equal in number to eight per cent of the number of brokered Units issued exercisable into Units at a price of $0.50 per Unit for a period of twenty-four months from Closing. Use of proceeds will be for general working capital.

PowerOne is acting as an agent in connection with closing $1 million (2 million Units) of this financing Tuesday March 3, 2015 and the balance of the financing is expected to close on or about Monday March 16, 2015. The completion of these transactions is subject to final approval of the TSX Venture Exchange issuable upon filing of customary closing documentation.

About Engagement Labs

Engagement Labs' eValue™ Score is the global benchmark for social media scoring. eValue Analytics Pro, an enterprise-grade social media analytics platform, scores brands between 0-100. eValue measures brands' social media and digital marketing efforts. It's composed of a series of metrics and KPIs, among them: Engagement, Responsiveness and Impact, benchmarked against 75,000+ handpicked and verified brands.

Engagement Labs (TSX VENTURE:EL) offers intelligent social data, analytics and insights for organizations that are actively engaging on social networks. Offered as a SaaS or through an API, the eValue™ analytics platform allows brands to measure and maximize the effectiveness of their social media marketing campaigns, as well as measure that of their competitors across major social networks Facebook, Twitter and YouTube. Engagement Labs maintains offices in Montreal, Toronto and Paris. www.engagementlabs.com / www.eValueanalytics.com

This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "will be", "intends" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

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.

Contact Information

  • For media inquiries please contact:
    Kate Tumino
    KCSA Strategic Communications
    ktumino@kcsa.com
    212-896-1252