CALGARY, Alberta, July 05, 2022 (GLOBE NEWSWIRE) -- ApartmentLove Inc. (CSE: APLV) (“ApartmentLove” or the “Company”), a leading provider of online home and apartment marketing services to landlords and renters in more than 30-countries on 5-continents around the world, is pleased to announce it has signed a definitive purchase and sale agreement to acquire all of the assets (including customer lists and domain names) of an established short-term vacation rental company with active operations in the United States, Canada, Mexico, and the Caribbean (the “Acquisition”) for an aggregate cash purchase price of $375,000.
Having agreed to all business terms and now subject only to customary closing conditions for transactions of this nature, the parties expect the Acquisition will close on or before July 15, 2022. Successfully completing this Acquisition underscores ApartmentLove’s well-broadcasted plans of consolidating the deeply fragmented online rental marketplace and represents the Company’s entry to the short-term vacation rental space – among the fastest growing segments of the vast internet listing industry.
About ApartmentLove Inc.
ApartmentLove Inc. (CSE: APLV) is a leading provider of rental marketing services to landlords and renters on the Internet. ApartmentLove has active rental listings in more than 30-countries on 5-continents around the world. Having proven its ability to scale as a fast-growing “PropTech” company, ApartmentLove is actioning its growth through acquisition program purchasing competing businesses that have many monthly active users, a history of recurring revenues, positive cashflows, and custom technologies that both accelerate and destress the renting experience around the world.
For more information visit https://apartmentlove.com/investors or contact:
President & CEO
Certain statements in this press release are forward-looking statements, which reflect the expectations of management regarding the Company’s completion of the Acquisition and the timing thereof, the growth of the short-term vacation rental space and the profitability of the operations related to the Acquisition. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including, but not limited to: the receipt of requisite approvals with respect to the Acquisition, as applicable; the completion of such other conditions to be satisfied for completion of the Acquisition; and the Company completing the Acquisition. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may" or “will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Such Forward-looking statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
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