TORONTO , Dec. 22, 2020 /CNW/ - Ghassan Halazon , founder and CEO of EMERGE Commerce Ltd., ("EMERGE" or the "Company") (TSXV: ECOM), a leading acquirer and operator of niche e-commerce brands, is scheduled to appear on BNN Bloomberg TV this morning at 10.40am EST with host, Paul Bagnell , to discuss the future of e-commerce heading into 2021, and to celebrate Canada's Top 40 Under 40 award this year that named Halazon as an honouree.
EMERGE would also like to provide the following corporate updates:
- Acquisition Pipeline: EMERGE continues to make progress on its acquisition pipeline, and is currently advancing a variety of opportunities ranging from early due diligence stages to signed Letters of Intent ("LOI").
- Revenue Growth: During Q4 to date 2020, EMERGE continues to see strong growth in certain key pandemic-resilient e-commerce categories such as groceries, golf products, and essentials, partially offsetting certain COVID-impacted verticals. EMERGE previously reported revenue growth of 196% in Q3 2020.
- Adjusted EBITDA (1) Positive: The Company anticipates it will end the year with positive Adjusted EBITDA.
"Our decision to go public was in large part to shore up our balance sheet so we could accelerate our acquisition roadmap," said Ghassan Halazon , Founder and CEO, EMERGE. "We have a robust acquisition pipeline, including signed Letters of Intent (LOI) with quality, profitable niche e-commerce businesses that complement and enhance our existing portfolio. Shareholders who have been with us from day one can attest that we have a track record of closing on transactions we commit to."
"As the year winds down, we can say with confidence that we anticipate our business will demonstrate strong growth year over year in 2020, with positive adjusted EBITDA, a strong balance sheet, and a growing acquisition pipeline to execute against. Underlying our roadmap is an e-commerce sector that continues to experience significant change and acceleration."
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(1)
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EBITDA and Adjusted EBITDA are a non-GAAP measure and should not be construed as alternatives to net income/loss determined in accordance with IFRS. EBITDA and Adjusted EBITDA does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Adjusted EBITDA as defined by EMERGE means earnings before interest and financing costs, income taxes, depreciation and amortization, transaction costs, foreign exchange gains/losses, discontinued operations, unrealized gains/losses on contingent consideration and share-based compensation. Management believes that Adjusted EBITDA is a useful measure because it provides information about the operating and financial performance of EMERGE and its ability to generate ongoing operating cash flow to fund future working capital needs and fund future capital expenditures or acquisitions.
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About EMERGE
EMERGE is a disciplined, diversified, rapidly growing acquirer and operator of e-commerce brands across North America. Our network of e-commerce sites provides our members with offers on golf, groceries, essentials, nearby staycations and experiences. Our portfolio houses some of Canada's most coveted online destinations including UnderPar.com, WagJag.com, JustGolfStuff.ca, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.
To learn more visit www.emerge-commerce.com
Cautionary notice
Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the transactions described herein (the "Filing Statement"), any information released or received with respect to the transactions described herein may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding forward-looking statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Filing Statement which are incorporated herein by reference and are available through SEDAR at www.sedar.com . The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE EMERGE Commerce Ltd.
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