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VANCOUVER, BC, March 4, 2022 /CNW/ - Jasper Commerce Inc. (formerly known as SaaSquatch Capital Corp.) (TSX-V: JPIM) ("Company"), announced the establishment of a capital markets strategy and investor relations arrangement with Sophic Capital Inc. ("Sophic") of Toronto, Ontario, Canada pursuant to the terms of a capital markets advisory agreement (the "Agreement"). Sophic's deep expertise in technology and eCommerce markets combined with decades of capital markets experience adds critical expertise to cultivate meaningful discussion and awareness of investment opportunities in Product Information Management ("PIM") among investors.
"A growing trend is that eCommerce merchants need an assortment of tools in order to run their online stores effectively," said Sophic Capital President and CEO Sean Peasgood. "Jasper, by empowering merchants to manage and merchandise their products across various storefronts and channels, is a crucial part of this merchant toolkit. On behalf of the partners at Sophic Capital, we look forward to helping Jasper communicate the merits of investing in the Company and its successful milestones as it continues to grow over the coming years."
"Sophic Capital impressed us with their work with other issuers and their deep experience and knowledge in the eCommerce sector and Canadian capital markets," added Jon Marsella, CEO. "What stood out to us was their strategic approach towards developing investor relationships and their strategic approach to capital markets."
The Agreement and the obligations of the Company under the Agreement are subject to the approval of the TSX Venture Exchange (the "TSXV"). Under the terms of the Agreement, Sophic will provide, among other things, capital strategy, market education, sell-side relationships development, investor campaigns, creative assistance, investor conferences, and roadshows.
The initial term of the Agreement is for a period of twelve months, commencing February 28, 2022. As consideration for the services to be provided by Sophic, the Company has agreed to pay Sophic a monthly fee of C$8,000 per month (plus taxes) and has granted to Sophic an initial 580,000 options (the " Options") at an exercise price of C$0.50 per option. Options will vest in equal amounts on a quarterly basis over the course of twelve months from issuance and will expire five years from the date of grant. All Options granted to Sophic will be subject to the terms of the Company's stock option plan, the terms of any stock option agreement entered into between Sophic and the Company and the rules and policies of the TSXV. Other than the Options, Sophic has no interest, directly or indirectly, in the Company or any securities of the Company and has no intention to acquire such an interest.
About Jasper Commerce Inc.
Jasper offers a Product Information Management ("PIM") solution that has the objective of empowering eCommerce merchants to manage and merchandise their products from a single source of truth, facilitating them to sell more, sell faster and work smarter. Jasper's PIM is accessible from anywhere via a web-browser and is intended to simplify the process by which online merchants import product data into the PIM. Once uploaded, merchants can add various product data including product attributes, images, videos, marketing information, inventory quantities and price books and efficiently merchandise their products using various features that include, among other things, the ability to adjust product categorization, pricing data and other key metrics. Jasper's PIM also allows for automatic syncing to popular eCommerce storefronts, marketplaces, or other connected channels, whenever new products are added to the PIM.
About Sophic Capital
Sophic Capital is a capital markets advisory firm for public and private growth companies, specializing in developing complete capital markets strategies for companies across all stages of development. Sophic Capital's depth of knowledge in the technology, clean technology, consumer products and other growth sectors combined with decades of experience working in the capital markets, makes it an ideal partner to help lower the cost of capital and accelerate growth. For more information, visit www.sophiccapital.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.
Investors are cautioned that, except as disclosed in the Filing Statement prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities 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 within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements, including statements relating to the final acceptance by the Exchange, the issuance of a final bulletin by the Exchange, the use of proceeds of the Offering and the business plans of the Company. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward‐looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
SOURCE Jasper Commerce, Inc.
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