Apartmentlove Completes Acquisition Of Gottarent.Com Paying 4X Ebitda In All Cash Takeover
12/16/22, 1:22 PM
Industry
financial services
other
software
ApartmentLove Inc. (CSE: APLV) (“ApartmentLove” or the “Company”), a leading provider of online home, apartment, and vacation rental marketing services to owners, renters, and vacationers from around the world is pleased to announce it has completed its acquisition of the established, very well-known, and profitable internet listing site GottaRent.com and other related domains from Metroland Media Group Ltd. (“Metroland”) in an all-cash takeover.
Company Info
Company info
The Company also now intends to complete a brokered private placement of its common shares in connection with the Acquisition and the Loan Facility, the details of which will soon be announced. Promoting rental properties in every major rental market in Canada and the United States, ApartmentLove has active rental listings in 30-countries on 5-continents around the world. Further to the press release issued October 28, 2021, announcing the signing of a non-binding letter of intent to acquire certain assets of Traffic2Revenue LLC dba iLS Network (the “Acquisition”), and the press release issued January 11, 2022, announcing a term debt facility of up to $10,000,000 (the "Loan Facility"); ApartmentLove is pleased to announce the closing of the second and final tranche of a non-brokered private placement of convertible debentures of the Company (the "Convertible Debentures") for aggregate gross proceeds of $753,000.