Wishpond Enters into Capital Markets Advisory Services Agreement with Angad Capital
Vancouver, BC – December 30, 2020 – Wishpond Technologies Ltd. (TSX-V: WISH) (the “Company” or “Wishpond”), a provider of marketing focused online business solutions, is pleased to announce that it has retained Angad Capital Inc. (“Angad Capital”), to provide corporate strategy, capital markets advisory and investor relations services. In connection with the engagement, Angad Capital has been awarded a consulting agreement for an initial term of one year commencing January 1, 2021, for a fee of $10,000 per month. Wishpond has also agreed to grant Angad Capital with incentive stock options to purchase 150,000 common shares in the capital of the Company (the "Options") at a price of $2.18 per common share. The Options are granted pursuant to the Company’s Stock Option Plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange.
Angad Capital was founded and operated by Pardeep Sangha, a former ranked investment equity analyst for Haywood Securities Inc. and PI Financial Corp. who specialized in covering small-cap technology companies. Angad Capital provides capital markets advisory services to early-stage technology companies including business plan formation, corporate strategy, valuation and financial modelling, acquisition advisory and investor relations. Angad Capital’s clients include WELL Health Technologies Corp. and INEO Tech Corp. As at the date hereof, Angad Capital and Pardeep Sangha collectively own 519,637 shares of Wishpond.
Wishpond also announces that the Company’s Board of Directors has authorized, pursuant to its Stock Option Plan, the grant of incentive stock options to directors, officers, employees and advisors of the Company to purchase an aggregate of 2,863,221 common shares in the capital of the Company at an exercise price of $2.18 per share. The stock options are granted for a ten-year term from December 29, 2020.
About Wishpond Technologies Ltd.
Based out of Vancouver, British Columbia, Wishpond is a provider of marketing focused online business solutions. Wishpond’s vision is to become the leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company offers an "all-in-one" marketing suite that provides companies with marketing, promotion, lead generation and sales conversion capabilities from one integrated platform. Wishpond replaces entire marketing functions in an easy-to-use product, for a fraction of the cost. Wishpond serves over 2,000 customers who are primarily small-to-medium size businesses (SMBs) in a wide variety of industries. The Company has developed cutting edge marketing technology solutions and continues to add new features and applications with great velocity. Wishpond employs a Software-as-a-Service (SaaS) business model where substantially all the Company’s revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker "WISH". For further information, visit: www.wishpond.com.
Investors are cautioned that, except as disclosed in the disclosure document, any information released or received with respect to the Company may not be accurate or complete and should not be relied upon. Trading in securities of the Company should be considered highly speculative.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including the availability of funds, acceptance of the Company’s products, competition, and general market conditions – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed on SEDAR, (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the 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.
For further information:
Pardeep S. Sangha