WeCommerce Holdings Ltd. (“WeCommerce” or the “Company”) (TSXV: WE), a leading provider of ecommerce enablement software and tools for merchants, today announced that further to its acquisition of substantially all of the assets of Stamped.io Pte. Ltd. (“Stamped”) dated April 6, 2021, the contingent consideration (the “Contingent Consideration”) payable has been satisfied by the issuance of 1,241,742 Class A common shares of WeCommerce at a deemed price per share of C$25.43. The shares issued as Contingent Consideration are subject to a statutory hold period expiring on the date that is four months and one day after the date of issuance. After giving effect to the issuance, WeCommerce has 41,071,090 Class A common shares outstanding.
Stamped is an ecommerce marketing platform that enables leading brands to accelerate growth, enhance customer engagement and improve conversion through its suite of products, including Reviews & Ratings and Loyalty & Rewards. Over 45,000 merchants trust Stamped to accelerate their business.
For more information, please visit the definitive agreement announcement and the closing announcement, dated March 5 and April 6 of 2021, respectively.
About WeCommerce Holdings Ltd.
WeCommerce provides merchants with a suite of ecommerce software tools to start and grow their online stores. Our family of companies and brands includes Pixel Union, Out of the Sandbox, Archetype, Yopify, SuppleApps, Rehash, Foursixty and Stamped. As one of Shopify’s first partners since 2010, WeCommerce is focused on building, acquiring and investing in leading technology businesses operating in the Shopify partner ecosystem.
For more about WeCommerce, please visit www.wecommerce.co or refer to the public disclosure documents available under WeCommerce’s SEDAR profile on SEDAR at www.sedar.com.
Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information within the meaning of applicable securities law. Such forward-looking statements and information include, but are not limited to, statements or information with respect to: management’s expectations regarding the future of the ecommerce industry (including the prospects for growth of such industry), and management’s expectations regarding the Company’s future role within the ecommerce industry. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking statements and information if circumstances or management’s estimates should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements and information. More detailed information about potential factors that could affect results is included in the documents that may be filed from time to time with the Canadian securities regulatory authorities by the Company. For a more detailed discussion of certain of these risk factors, see the Company's most recent MD&A described in the “Risk Factors” as well as the list of risk factors in the Company’s Annual Information Form for the year ended December 31, 2020 which is available on SEDAR at www.sedar.com under the Company’s profile.
NEITHER THE 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.
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