ApartmentLove to Acquire Internet Listing Services Business in All Cash Transaction - Yahoo Finance

CALGARY, Alberta, Nov. 09, 2022 (GLOBE NEWSWIRE) -- ApartmentLove Inc. (CSE: APLV) (“ApartmentLove” oregon the “Company”), a starring supplier of online home, apartment, and abrogation rental selling services to owners, renters, and vacationers from astir the satellite is pleased to denote that it has executed an Asset Purchase Agreement (the “Purchase Agreement”) with an Ontario based net listing services institution (the “Seller”) to acquisition the net listing services concern of the Seller (the "Acquired Business") for a currency acquisition terms of $940,000, taxable to customary moving superior adjustments (the “Acquisition”).

“The Canadian rental marketplace remains precise progressive arsenic would-be homeowners are turning distant from the unattainably precocious outgo of homeownership successful favour of the state and flexibility afforded to renters,” said Trevor Davidson – President & CEO of ApartmentLove Inc. Mr. Davidson added, “the Acquired Business has been astatine the forefront of the Canadian listing abstraction and is an particularly well-known and celebrated marque successful confederate Ontario. The acquisition provides america with galore caller and further paying customers and their rental listings galore of which are successful the greater Toronto country (the “GTA”), the nation’s astir populated region, portion besides providing hundreds of thousands of caller Monthly Active Users (“MAUs”) greatly expanding the scope and capableness of our Canadian offering.”

The Acquisition is expected to adjacent connected oregon astir November 30, 2022, taxable to completion of customary closing conditions contained successful the Purchase Agreement for transactions of this nature. Following the closing of the Acquisition, ApartmentLove expects to clasp the existing front-line operating squad presently driving the Acquired Business successful summation to preserving the domain arsenic a standalone plus nether the expanding ApartmentLove Inc. umbrella. Management believes these post-closing procedures volition assistance guarantee a creaseless modulation for each customers, clients, MAUs, and currency flows.

Following the completion of the Acquisition, absorption believes caller and continuous investments successful Search Engine Optimization (“SEO”), integer marketing, and different advertizing and promotional strategies targeting renters successful the GTA volition reconstruct the Acquired Business’ top-line income to “pre-pandemic levels” and anticipates earning successful excess of a 50% EBITDA margin. In the abbreviated term, the incremental gross and nett currency generated from the Acquired Business’ operations volition enactment the Company’s recurring currency flows and lend to management’s purpose of becoming currency travel affirmative arsenic rapidly arsenic possible.

The Acquisition exemplifies the benignant and benignant of established, scalable, and high-margin concern ApartmentLove seeks to get portion consolidating the profoundly fragmented net listing industry.

About ApartmentLove Inc.

ApartmentLove Inc. (CSE: APLV) is simply a starring supplier of online rental selling services to spot owners, renters, and vacationers successful much than 30-countries astir the world. Having proven its quality to standard arsenic a fast-growing "PropTech" successful today’s analyzable and dynamic marketplace environments, ApartmentLove is actioning its maturation done acquisition programme – purchasing complementing businesses that person galore monthly progressive users, a past of recurring revenues, affirmative cashflows, and customized technologies that some accelerate and destress the renting acquisition portion simultaneously advancing its ain integrated maturation strategies successful cardinal markets astir the world. ApartmentLove Inc. is simply a publically traded institution with its communal shares listed connected the Canadian Securities Exchange (CSE: APLV).

For much accusation sojourn https://apartmentlove.com/investors oregon contact:

Trevor Davidson
President & CEO
ApartmentLove Inc.
tdavidson@apartmentlove.com
(647) 272-9702

Reader Advisory

Certain accusation acceptable distant successful this quality merchandise whitethorn incorporate forward-looking statements that impact important known and chartless risks and uncertainties, definite of which are beyond the power of the Company. Forward-looking statements are often characterized by words specified arsenic "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and different akin words, oregon statements that definite events oregon conditions "may" oregon "will" occur. These statements are lone predictions. Readers are cautioned that the assumptions utilized successful the mentation of specified information, though considered tenable astatine the clip of preparation, whitethorn beryllium to beryllium imprecise and, arsenic such, undue reliance should not beryllium placed connected forward-looking statements. Forward looking statements see but are not constricted to the anticipated benefits of the Acquisition and the quality of the Company to recognize the benefits of the Acquisition; the Company realizing the benefits of its maturation by acquisition mandate; the quality of the Company to go cashflow positive; and the quality of the Company to successfully integrate the Acquired Business. The Company assumes nary work to update forward-looking statements, whether arsenic a effect of caller information, aboriginal events, oregon otherwise, but arsenic required by applicable law. Risk factors tin beryllium recovered successful the Company’s continuous disclosure documents which person been filed connected SEDAR and tin beryllium accessed astatine www.sedar.com.

To the grade immoderate forward-looking accusation successful this property merchandise constitutes "future-oriented fiscal information" oregon "financial outlooks" wrong the meaning of applicable Canadian securities laws, specified accusation is being provided to show the anticipated merchandise income of the Company and the scholar is cautioned that this accusation whitethorn not beryllium due for immoderate different intent and the scholar should not spot undue reliance connected specified future-oriented fiscal accusation and fiscal outlooks. Future-oriented fiscal accusation and fiscal outlooks, arsenic with forward-looking accusation generally, are, without limitation, based connected the assumptions and taxable to the risks acceptable retired supra nether the heading "Reader Advisory". The Company's existent fiscal presumption and results of operations whitethorn disagree materially from its management’s existent expectations and, arsenic a result, the Company's existent gross whitethorn disagree materially from the prospective gross projections provided successful this property release. Such accusation is presented for illustrative purposes lone and whitethorn not beryllium an denotation of the Company’s existent fiscal presumption oregon results of operations.

Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”) does not person immoderate standardized meaning arsenic prescribed by International Financial Reporting Standards ("IFRS") arsenic issued by the International Accounting Standards Board, and, therefore, is considered a “non-IFRS measure” and whitethorn not beryllium comparable to akin measures presented by different issuers. ApartmentLove believes the non-IFRS measurement of EBITDA, combined with IFRS measures, specified arsenic gross and nett income (loss), are utile measures to its shareholders arsenic absorption relies connected specified measures to supply penetration into aboriginal operations. Notwithstanding the foregoing, readers are cautioned, however, that EBITDA should not beryllium construed arsenic an alternate to fiscal measures determined successful accordance with IFRS arsenic an indicator of the Company's fiscal performance.

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