RESAAS Announces Unit Private Placement

Vancouver, British Columbia (FSCwire) - RESAAS Services Inc. (CSE: RSS, OTCQX: RSASF) (“RESAAS”), a cloud-based social business platform for the real estate services industry, announces that it has decided to postpone the company’s previously announced short form prospectus offering of up to 4,285,714 units (each, a “Unit”) at a price of $0.70 per Unit (the “Prospectus Offering”) and will undertake a non-brokered private placement of Units on identical terms instead (the “Private Placement”).

Each Unit consists of one common share of RESAAS (each, a “Common Share”) and one common share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to acquire one Common Share at a price of $0.90 per Common Share for a period of 12 months from the closing date of the Private Placement (the “Closing Date”).  Each of the Common Shares and Warrants underlying the Units will be subject to a statutory hold period expiring four months and one day after the Closing Date.

RESAAS plans to use the proceeds of the Private Placement for the continued development of its technology platform, investor relations activities, increasing its sales team, and general working capital.

In connection with the Private Placement, RESAAS may pay cash commissions of up to 8% of the gross proceeds of the Private Placement and/or issue warrants to purchase up to 8% of the number of units issued in the Private Placement (each, a “Finder’s Warrant”) to eligible finders, with each Finder’s Warrant exercisable into one Common Share at a price of $0.90 per Common Share for a period of 12 months after the Closing Date.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with one or more exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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About RESAAS Services Inc.

RESAAS is a cloud-based social business platform built for the real estate services industry. RESAAS brings proprietary real-time technology into the business of real estate and transforms how real estate listing data flows between real estate agents, brokers, associations and MLSs. Visit www.resaas.com.

On Behalf of RESAAS

Danielle Sissons

VP Operations

RESAAS Services Inc.

Telephone: (604) 558-2929; Email: danielle.sissons@resaas.com

Investor Relations

Scott Young

RESAAS Services Inc.

Telephone: 1 (705) 888-2756; Email: scott.young@resaas.com

The CSE has not reviewed, approved or disapproved the content of this press release.

Forward-Looking Information:

This press release and the RESAAS website referenced herein contain forward-looking information within the meaning of Canadian securities legislation, including but not limited to statements regarding the Private Placement, the Prospectus Offering and the use of proceeds of the Private Placement. The forward-looking information is based on certain key expectations and assumptions made by RESAAS’ management, including the completion of the Private Placement and the company’s financial position, business strategy, plans and objectives of management for future operations and other similar statements.

Forward-looking information is subject to risks, uncertainties and other factors, many of which are outside of the company’s control that could cause actual results to differ materially from the results discussed in the forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the risk that the Private Placement will not be completed.  Although RESAAS believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on such information because RESAAS can give no assurance that it will prove to be correct. The forward-looking information contained in this press release is made as of the date of this press release. RESAAS disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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