1,458,795 common shares issued in connection
with exercise of warrants
CALGARY, AB, June 29, 2021 /CNW/ - Renoworks Software Inc.
(TSXV: RW) ("Renoworks" or the "Company), the leading
end-to-end visualization platform for the building construction
industry, announced today that it has received $583,518 from the exercise of warrants formerly
issued in its 2019 private placement financing when the company
raised $750,000.
The company intends to use the proceeds from the exercise of
warrants for the continued development of its platform and talent
acquisition to continue to grow sales in 2021 and beyond.
The warrants were issued in connection with the Company's
private placement of units completed in June, 2019 and expired at
4:00pm (Mountain Standard Time) on
June 28, 2021. The exercise price of
the warrants was $0.40 and, as of the
expiry date, 98% (1,458,795 of 1,484,045) of the warrants were
exercised in exchange for the issuance of 1,458,795 common shares,
bringing the total outstanding Renoworks common shares to
38,423,460 after the exercise of warrants.
"The additional capital invested in Renoworks through the
exercise of warrants has put Renoworks in the best financial
position the company has ever been in." Said Doug Vickerson, CEO of Renoworks. "The proceeds
will enable Renoworks to continue advancing our strategy to provide
and capture more value across the construction and remodeling value
chain by further developing our platform and accelerating our sales
growth through talent acquisition. I want to thank our shareholders
for their support and confidence as Renoworks grows and becomes the
leading end-to-end solution at the center of millions of
construction and remodeling projects every year."
ABOUT RENOWORKS
Renoworks Software Inc. develops and sells unique digital
visualization software and integration solutions for the remodeling
and new home construction industry. Renoworks delivers its
technology to manufacturers, contractors, builders, and retailers
offering solutions to one of the home improvement industry's
greatest challenges: enabling homeowners to review their product
selections in a hyper-realistic, virtual environment before
committing to purchases and construction. Renoworks markets its
technologies as an innovative engagement, sales, and marketing
platform and generates revenues from five main business lines:
Renoworks Enterprise, Renoworks PRO, Renoworks Design Services,
Renoworks FastTrack, and Renoworks API (Application Programming
Interface). For more information, visit www.renoworks.com and
www.renoworkspro.com.
FORWARD LOOKING STATEMENT
Certain statements in this news release, other than statements
of historical fact, are forward looking information that involves
various risks and uncertainties. Such statements relating to, among
other things, the prospects for the company to enhance operating
results, realize a revenue or other return on technology and
platform development, capitalize on actual or perceived
opportunities in the marketplace, or adequately cope with the
impact of COVID-19, are necessarily subject to risks and
uncertainties, some of which are significant in scope and nature.
These uncertainties may cause actual results to differ from
information contained herein. There can be no assurance that such
statements will prove to be accurate. Actual results and future
events could differ materially from those anticipated in such
statements. These and all subsequent written and oral forward
looking statements are based on the estimates and opinions of the
management on the dates they are made and expressly qualified in
their entirety by this notice. The Company assumes no obligation to
update forward-looking statements should circumstances or
management's estimates or opinions change.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
SOURCE RenoWorks Software Inc.