TORONTO, Oct. 31, 2023 (GLOBE NEWSWIRE) — Pineapple Financial Inc. (the “Companyâ€) (NYSE American: PAPL), Canadaâ€
The Company expects to receive aggregate gross proceeds of US$3.5 million from this Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 131,250 common shares at the public offering price, less the underwriting discounts. The Offering is expected to close on November 3, 2023, subject to satisfaction of customary closing conditions.
Proceeds from the Offering will be used for (i) improving technology; (ii) developing the Companyâ€
EF Hutton, division of Benchmark Investments, LLC (“EF Huttonâ€), is acting as sole book-running manager for the Offering. Dominari Securities LLC is acting as co-manager for the Offering. Sichenzia Ross Ference LLP is acting as counsel to the Company, and Lucosky Brookman LLP is acting as counsel to the underwriters in connection with the Offering.
A registration statement on Form S-1 relating to the Offering, as amended, was filed with the Securities and Exchange Commission (the “SECâ€) (File Number: 333-268636) and was declared effective by the SEC on October 12, 2023. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, when available, may be obtained from EF Hutton, Attn: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, or via email at syndicate@efhuttongroup.com or telephone at (212) 404-7002. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov .
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Companyâ€
About Pineapple Financial Inc.
Pineapple is a leader in the Canadian mortgage industry, breaking the mold by focusing on both the long-term success of agents and brokerages, as well as the overall experience of homeowners. With approximately 600 brokers within the network, Pineapple utilizes cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their ultimate dream of owning a home. Pineapple is active within the community and is proud to sponsor cancer charities across Canada, improving the lives of fellow Canadians touched by cancer.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Companyâ€
Media Contact:
For media inquiries, please contact Dennis Welsh, Senior Director of Marketing, at Pineapple
Email: dennis@gopineapple.com
Investor Relations Contact:
For investor relations inquiries, please contact Scott Powell, Chief Executive Officer, at Skyline Corporate Communications Group, LLC
Email: scott@skylineccg.com
Phone: +1 (646) 893-5835
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