EMERGE Announces Refinancing of Term Loan and Upsizing of Credit Facility to $25 Million

Primary Use of Proceeds Expected to Fund Future Acquisitions

TORONTO, Nov. 8, 2021 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a diversified, rapidly growing acquirer and operator of niche e-commerce brands, is pleased to announce the refinancing of its $8 million term loan, and upsizing of its credit facility providing for a total facility limit of $25 million (the "Facility") with primary use of funds expected to be future acquisition financing.

"The upsized facility positions us well to act decisively on the acquisitions front, where we continue to advance a robust pipeline of profitable e-commerce opportunities," said Ghassan Halazon, Founder and CEO of EMERGE. "This upsized credit facility provides EMERGE with important financial and operating flexibility at terms that we believe are favorable to the company, while minimizing dilution. The expanded facility is further recognition that we are executing on our strategic initiatives while maintaining a disciplined capital allocation strategy."

In consideration for refinancing and expanding the Facility, the lender was entitled to certain fees and expenses, including a commitment fee equal to $312,500, which was fully paid and satisfied by the issuance of 434,028 common shares of the Company.

As of the closing of the Facility, $8 million of the $25 million has been advanced and remains outstanding. The Facility is primarily expected to be utilized by the Company to fund future M&A in the e-commerce space.

About EMERGE

EMERGE is a disciplined, diversified, rapidly growing acquirer and operator of niche e-commerce brands. Our subscription-based and marketplace e-commerce businesses provide our members with access to premium meat & groceries, outdoor gear, golf, and other curated experiences. Our portfolio houses some of North America's most coveted online destinations including trulocal.ca, BattlBox.com, UnderPar.com, JustGolfStuff.ca, CarinvoreClub.co,  WagJag.com, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.

To learn more visit https://www.emerge-commerce.com/

Cautionary notice

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice regarding forward-looking statements

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information.  Actual results and developments may differ materially from those contemplated by these statements.  The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable).  Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's filing statement which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE EMERGE Commerce Ltd.

For further information: James Bowen, CFA, EMERGE Commerce Inc., 416-519-9442, investor@emerge-brands.com

Related Links

https://www.emerge-commerce.com/