VANCOUVER, BC, Feb. 15,
2023 /CNW/ - RESAAS Services Inc. (TSXV: RSS) (OTCQB:
RSASF) ("RESAAS" or the "Company"), a leading
provider of technology solutions for the Real Estate Industry, is
pleased to announce a signed engagement with Red Cloud Securities
("Red Cloud").
Red Cloud liquidity services, led
by veteran trader Adam Smith and his
liquidity team, will trade shares of RESAAS on the TSX-V for the
purposes of maintaining a reasonable market and improving the
liquidity of RESAAS's common shares.
"Building a stronger and more liquid market for the Company's
stock will benefit all RESAAS shareholders and potential
investors," said Tom Rossiter, CEO
of RESAAS. "Red Cloud has a proven
record in providing greater liquidity, a tighter market, and rich
insight into the Company's trading activity. Adding Red Cloud to our team is a proactive appointment
to support the growth of our shareholder base."
Red Cloud is a decade plus
established Toronto-based
Registered Investment Dealer in Ontario, Quebec, Alberta and British
Columbia and is a member of the Investment Industry
Organization of Canada
(IIROC).
The term of engagement is ongoing and may be terminated by
either party on 30 days' prior written notice. The Company and
Red Cloud have an arm's length
relationship, but Red Cloud and/or
its clients may have an interest, directly or indirectly, in the
securities of RESAAS. The agreement is principally for the purposes
of maintaining market stability and liquidity for the Company's
common shares and is not a formal market making agreement. Under
the terms of the agreement, the Company will pay Red Cloud $5,000
per month during the term. There are no performance factors
contained in the agreement between Red
Cloud and the Company and Red
Cloud will not receive any shares or options from the
Company as compensation for services it will render.
About RESAAS Services
Inc.
RESAAS is an award-winning global technology platform for the
real estate industry. With over 500,000 real estate agents
utilizing RESAAS in 160 countries, RESAAS enables real-time
industry communication, delivers new business opportunities and
captures unique real estate data. Some of real estate's biggest
brands leverage RESAAS to provide business intelligence to real
estate brokerages, franchises and associations. For more
information, please visit https://www.resaas.com.
Disclaimer
The TSX Venture Exchange has neither approved nor disapproved
the contents of this news release. Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
The statements made in this news release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially
from RESAAS Services Inc.'s expectations and projections.
SOURCE RESAAS SERVICES INC.