Clarocity Announces $4.7m Contract Extension with USDA Clarocity Corporation Announces CDN $4.7M Contract Extension with United States Department of Agriculture
Calgary, Alberta – September 20, 2017 – Clarocity Valuation Services (“ClarocityVS”), a division of Clarocity Corporation (TSXV:CLY; OTCQB:CLRYF) (the "Company" or “Clarocity”), is pleased to announce that it has been awarded a one-year contract extension for a Blanket Purchase Agreement, providing Turnkey Nationwide Appraisal Services to the United States Department of Agriculture (“USDA”). The contract, in the amount of $3.8m USD (~$4.7m CDN), is expected to span from September 2017 until September 2018. As part of the contract, USDA will be leveraging both traditional valuation services as well as Clarocity’s proprietary alternative appraisal product, MVPro.
“The extension of this contract under ClarocityVS is a true testament to the value we are able to bring to our clients and a vote of confidence towards our long-stated belief that alternative appraisals are continuing to grow in demand as the most viable alternative to traditional appraisals,” said Aleksandra “Zan” James, President of ClarocityVS. “As one centralized, integrated business we are now able to provide valuation services and this contract illustrates the value of being organized in such a way. As we progress throughout the remainder of the fiscal year, we will continue to actively pursue new clients while ensuring that we are able to grow organically with existing clients.”
For further information visit www.clarocity.com or contact: Shane Copeland
CEO
Clarocity Corporation
760-208-6460
scopeland@clarocity.com | Babak Pedram
Investor Relations
Virtus Advisory Group Inc.
416-644-5081
bpedram@virtusadvisory.com |
About Clarocity Corporation Clarocity Corporation provides real estate valuation solutions and platform technologies designed to address today’s dynamic housing market. Our innovative platform is driving the next-generation of valuation services such as MarketValue Pro (MVP) and BPOMerge and setting new standards in real estate valuation quality and reliability.
Every day, GSE, banking, and investor clients rely on our proprietary solutions to value assets, fund loans, and securitize portfolios. As a fully integrated technology and valuation services company, Clarocity provides a full spectrum of appraisal and alternative valuation solutions. For more information, visit
www.clarocity.com.
Neither 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 or accuracy of this release. This news release contains forward-looking statements which may include financial and business prospects, as well as statements regarding the Company’s future plans, objectives or economic performance and financial outlooks. Such statements are subject to risk factors associated with the real estate industry, the overall economy in both Canada and the United States. The Company believes that the expectations reflected in this news release are reasonable but actual results may be affected by a variety of variables and may be materially different from the results or events predicted in the forward-looking statements. Readers are therefore cautioned not to place undue reliance on these forward-looking statements. In evaluating forward-looking statements readers should consider the risk factors which could cause actual results or events to differ materially from those indicated by such forward-looking statements. These forward-looking statements are made as of the date hereof, and unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or revise any forward-looking statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy and of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended the U.S. Securities Act, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.