ZipLocal Inc. Announces Execution of Lock-Up Agreements and Extension of Maturity Date of Debentures

TORONTO, ONTARIO--(Marketwired - April 11, 2017) -

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ZipLocal Inc. ("ZipLocal" or the "Company") (NEX:ZIP.H) announced today that certain holders (the "Holders") of unsecured convertible debentures of the Company (the "Convertible Debentures") holding an aggregate of over eighty percent of the principal amount of the Convertible Debentures have become a party to the previously announced lock-up and support agreement (the "Support Agreement") between ZipLocal and Intercap Inc.

With the Holders becoming a party to the Support Agreement, the condition under the Support Agreement requiring Holders holding not less than eighty percent of the principal amount of the Convertible Debentures becoming a party to the Support Agreement has been satisfied.

The Company also today announced that, pursuant to the Support Agreement, the outstanding Convertible Debentures have had their maturity date extended to the date immediately following the effective date of the previously announced debt conversion ("Debt Conversion"). The effective date of the Debt Conversion is expected to be on or about April 20, 2017.

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.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding the Offer, the Consolidation and the Debt Conversion. The forward-looking statements contained in this press release represent the Company's views and expectations as of the date of this press release and should not be relied upon as representing its views and expectations at any subsequent date. Actual developments may differ materially from those contemplated by these forward-looking statements. The forward-looking events and circumstances discussed in this press release, including the completion of the Offer, may not occur or could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including (without limitation) risks regarding market conditions, economic factors, and the equity markets generally. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

About ZipLocal Inc.

ZipLocal Inc. is listed on the NEX Board of the TSX Venture Exchange.