ApartmentLove Inc. announced that it has entered into a share purchase agreement to issue common shares and 6,250,000 common share warrants on September 29, 2023. The transaction will include participation from new investor, GEM Global Yield Fund LLC SCS, a fund managed by Global Emerging Markets. The warrants will vest on the date that is 120 days following the issuance date of the warrants and shall be exercisable to purchase a Common Share at a price of CAD 0.204 per common share for a period of 36 months from the vesting date of the warrants.

The company may place and receive up to four initial Draw Downs Notices for an aggregate subscription amount for all Initial Draw Downs not to exceed CAD 2,500,000, and each such Initial Draw Down Notice to be for an amount not less than CAD 500,000 or greater than CAD 1,000,000. As a part of the transaction, the company will pay in an amount equal to 7.5% of the total commitment amount which, at the company?s option is payable in cash or common shares and shall be held in escrow until the first anniversary of the effective date of the share subscription agreement.