SOURCE: iLOOKABOUT Corp.

iLOOKABOUT

December 12, 2014 18:21 ET

iLOOKABOUT Announces Proposed Private Placement

LONDON, ON--(Marketwired - December 12, 2014) - iLOOKABOUT Corp. (TSX VENTURE: ILA) ("iLOOKABOUT" or "the Company") announced today that it intends to complete a non-brokered private placement for a minimum of 3,333,334 Units and a maximum of 6,666,666 Units of the Company at a price of $0.30 per Unit, for gross proceeds of between $1,000,000 and $2,000,000 (the "Offering"). Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of the Company at an exercise price of $0.60 for a period of 24 months from the date of issuance. Net proceeds will be used to pursue growth opportunities through the expansion of the Company's core geographic information systems ("GIS") business, acquisition of complementary businesses or assets, increased sales and marketing efforts, expansion of capital infrastructure and for general corporate and working capital purposes. Proceeds may also be used to repay some or all of the Company's long-term debt and/or redeem some or all off the outstanding Series 1 Preference Shares. The private placement is expected to close on or around December 17, 2014 and is subject to acceptance by the TSX Venture Exchange.

About iLOOKABOUT

iLOOKABOUT is a data analytics and visual intelligence company focused on real property, serving primarily the property assessment, property taxation, municipal, insurance, and appraisal sectors, both public and private, in North America. iLOOKABOUT's origins are with its StreetScape imagery and web-based geographic information system ("GIS") application, GeoViewPort™, which federates property related data and enables desktop review of properties. iLOOKABOUT has recently integrated powerful new data analytics and workflow management applications into its existing products to create several new service offerings uniquely customized for its clients. These new offerings include Real Property Tax Analytics ("RPTA"), Realty Tax Management ("RTM") and Confirm My Assessment. To augment the Company's technology based offerings, real estate consulting services are also now provided, with a focus on the Property Tax and Valuation sectors. 

Headquartered in London, Ontario, Canada, iLOOKABOUT's common shares are traded on the TSX Venture Exchange under the symbol ILA. 

Neither 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