iLOOKABOUT provides update to Non-Brokered Private Placement

TORONTO, Sept. 10, 2020 (GLOBE NEWSWIRE) -- iLOOKABOUT Corp. (TSXV:ILA; OTCQB:ILATF) (“ILA” or “the Company”) announced its intention for a non-brokered private placement (the “Offering”) in a news release dated August 28^th, 2020 in connection with the signing of a non-binding term sheet with Starcap Marketing, LLC (d.b.a. Apex Software) (“Apex”), for the acquisition by ILA of Apex assets (the “Proposed Transaction”).

Due to significant demand and interest by investors after the announcement of the Offering, the Company has increased the Offering to approximately 53,333,333 units of the Company (the “Units”) at a price of $0.15 per Unit for aggregate gross proceeds of up to $8,000,000. Each Unit shall still be comprised of one common share of the Company and one-half common share purchase warrant (the “Warrants”). Each full Warrant shall entitle the holder thereof to acquire one common share of the Company at a price of $0.25 for a period of 12 months following the closing of the Offering. The net proceeds of the Offering shall be used by the Company to fund the cash consideration and other related costs with respect to the Proposed Transaction. The Offering is expected to close on or about September 15, 2020 and remains subject to the approval of the TSX Venture Exchange.

About ILA

ILA is a transformational data analytics organization that provides transparency to the valuation of real estate assets. ILA is a real estate valuation platform with technologies that leverage the power of data designed to address today's dynamic real estate valuation market. Our proprietary innovative platform provides software and data licenses and technology managed services to the real estate industry, serving primarily the property lending and property tax sectors, both public and private, in the United States (“US”) and Canada. Accurate data and property valuations form the basis for our clients to value assets, fund loans, securitize portfolios and to analyze and update property tax assessments. As a fully integrated valuation technology company, we are setting new standards in real estate valuation quality and reliability. ILA is a brand built on innovation, execution, accuracy, industry expertise and forward-looking products and services.