Voxtur Announces Non-Brokered Private Placement of up to $35,000,000

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TORONTO, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV:VXTR) (“Voxtur” or “the Company”) is pleased to announce a non-brokered private placement of common shares of the Company (“Common Shares”) for gross proceeds of up to $35,000,000 (the “Offering”), subject to TSX Venture Exchange (the “Exchange”) approval.

The Offering shall consist of up to 50,000,000 Common Shares at a price of $0.70 per Common Share.

The Offering may close in one or more tranches, with the first tranche of subscriptions for approximately $25,000,000 expected to close in early March.

The proceeds from the Offering are expected to be used for future growth opportunities, general working capital and debt repayment.

The Company may, in its discretion, pay a finder’s fee in cash or Common Shares of up to 6% of the total gross proceeds of the Offering, excluding any funds raised from insiders.  All securities issued pursuant to the Offering will be subject to a hold period of four months and one day following the applicable closing date.

The Company has engaged Cormark Securities Inc. as its financial advisor in connection with this transaction.  The Offering is subject to the approval of the Exchange.

It is anticipated that certain directors, officers and other insiders of the Company will acquire Common Shares under the Offering. Such participation will be considered to be “related party transactions” within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Private Placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, is expected to exceed 25% of the Company’s market capitalization (as determined under MI 61-101). The Company did not file a material change report more than 21 days before the closing of the Offering as the details of the Offering and the participation therein by each "related party" of the Company will not be settled until shortly prior to the closing of the Offering, and the Company wishes to close the Offering on an expedited basis for sound business reasons.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States or to or for the benefit or account of U.S. persons, absent such registration or an applicable exemption from such registration requirements.

About Voxtur

Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. Voxtur leverages its proprietary data hub and workflow platforms to provide transparency in property valuation and tax assessment and automate processes throughout the lending lifecycle from origination to default and liquidation. This allows Voxtur’s clients to more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. Our innovative platform aggregates complementary data sets and layers in business intelligence to generate targeted analytics and assist in the provision of technology-managed services to the property lending and property tax sectors, both public and private, in the United States and Canada. Voxtur is a brand built on innovation, execution and forward-thinking products and services.

Voxtur’s common shares are traded on the TSX Venture Exchange under the symbol VXTR.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer’s business, capital, technology or operations that is prospective in nature, and includes future-oriented financial information about the issuer’s prospective financial performance or financial position. The forward-looking information in this news release includes disclosure about the proposed Offering, including the terms and timing thereof and the proposed use of proceeds from the Offering. The Company made certain material assumptions, including but not limited to prevailing market conditions and general business, economic, competitive, political and social uncertainties, as well as the ability to complete the Offering on the terms set forth herein in a timely manner and to obtain the regulatory approvals required in connection with the same, to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Actual results may vary from the forward-looking information in this news release due to certain material risk factors described in the Company’s public filings under its profile at www.sedar.com and the failure to complete the Offering on the terms set forth herein in a timely manner or at all, the risk that regulatory approvals will not be received and the risk that changing circumstances will result in the proceeds being used in a manner other than as set forth herein. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.

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 of this release.


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