Intema Solutions Inc., developer of eflyermaker.com, is pleased to announce the closing of the non-brokered private placement disclosed on September 27, 2019, for total gross proceeds of $1 million. In exchange, the Corporation has issued 10,000,000 common shares at $0.10 per share and 10,000,000 warrants. Each warrant entitles its holder to purchase an additional common share at $0.15 per share for a period of 12 months.

“This private placement stems from management’s commitment towards realizing its expansion plan and investors’ growing confidence in Intema’s market potential,” said Laurent Benezra, President and Chief Executive Officer of Intema. “These funds will allow us to add developers and increase Intema’s marketing activities in key sectors, with the goal of capturing a larger share of the growing permission-based email marketing market.”

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The rising trend in digital marketing has created a huge demand for email marketing due to a good response rate. The global email marketing market is anticipated to register at a compound annual growth rate (CAGR) of 19.60% from 2017 to 2025, and is expected to reach US$22 billion by the end of 2025 (Source: Transparency Market Research, March 2017).

Two insiders (as such term is defined under applicable securities law) of the Corporation, Laurent Benezra (Chief Executive Officer) and Claude Théoret (Chief Operating Officer), have participated and subscribed for, respectively, 500,000 Units and 600,000 Units. These insiders did not own any securities prior to this transaction. The issuance of these Units constitutes a related party transaction within the meaning of TSXV Policy 5.9 and Regulation 61-101 (“Regulation 61-101”). The Corporation has relied on the exemptions from the valuation and minority shareholder approval requirements of Regulation 61-101 contained in Sections 5.5(a) and 5.7(1)(a), respectively.

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In connection with the Offering, the Corporation has paid a cash commission equal to 8% of the gross proceeds to registered dealers who have acted as finders. All securities issued pursuant to this private placement are subject to a mandatory hold period of four months and a day under applicable Canadian securities legislation and the private placement remains subject to TSX Venture Exchange final approval.

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