TORONTO, ONTARIO – February 4, 2021 – Adcore Inc. (the “Company” or “Adcore”) (TSXV:ADCO) (FSE:ADQ), a leading provider of machine-learning (“ML” and “AI”) powered advertising technologies used by digital agencies and advertisers to leverage digital marketing in an effortless and accessible way (“Effortless Advertising”), today announced that it has engaged Virtus Advisory Group (“Virtus”) to assist enhancing the Company’s exposure to the Canadian investment community.
“We are thrilled to be working alongside the Adcore team to educate the investment community about Adcore’s unique and exciting product offerings,” said Babak Pedram, President of Virtus Advisory Group. “We look forward to sharing the company’s developments with our network of investors in Canada.”
Omri Brill, CEO of Adcore, stated, “Since going public in Canada over 18 months ago, we have continued to expand our technology offering and grow our client base around the world. We look forward to working with Virtus to facilitate investor introductions and further broaden our exposure within the Canadian investment community.”
In connection with the engagement (the “Agreement”), Adcore will pay Virtus a monthly fee of $8,000 CAD. In addition, Virtus will be granted incentive stock options to acquire 150,000 shares of the Company, at an exercise price of $1.15 per share for a 4 year term, subject to approval by the Company’s Board of Directors and the TSX Venture Exchange. The options will vest in equal portions over twelve (12) months from the grant date.
The Company’s engagement of Virtus is subject to the acceptance of the TSX Venture Exchange.
Adcore is a leading provider of machine-learning powered advertising technologies used by digital agencies and advertisers to leverage digital marketing in an effortless and accessible way (“Effortless Advertising”) with the goal of scaling activity and maximizing ROI.
By combining extensive industry knowledge and experience with its proprietary artificial intelligence engine, Adcore offers a unique digital marketing solution. In addition to being named numerous times on Deloitte’s Fast 50 Technology list, Adcore is a certified Google Premier Partner, Microsoft Partner, and TikTok Partner.
Established in 2006, the Company employs over forty people in its headquarters in Tel Aviv, Israel and satellite offices in Melbourne, Australia, Toronto, Canada, and Hong Kong, Greater China.
For more information about Adcore, please visit Adcore’s Investor Relations website
This press release contains certain forward-looking statements, including statements about the Corporation. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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