WeCommerce Holdings Ltd. Retains Venture Liquidity Providers Inc. as Market Maker

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VICTORIA, British Columbia — WeCommerce Holdings Ltd. (TSXV:WE) (“WeCommerce” or the “Company”) is pleased to announce that, subject to regulatory approval, it has retained Venture Liquidity Providers Inc. (“VLP”) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the Class A common shares of the Company.

The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange (“TSXV”) and other applicable laws. For its services, the Company has agreed to pay VLP a cash fee of $5,ooo per month. The agreement commences upon approval of the TSXV and continues on a month-to-month basis, until terminated. The agreement may be terminated at any time by the Company or upon VLP providing the Company with at least five days prior to the end of the current term of the agreement.

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The Company and VLP act at arm’s length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer Co. Ltd., which is also at arm’s length to the Company. The fee paid by the Company to VLP is for services only.

VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSXV listed issuers.

About WeCommerce Holdings Ltd.:

WeCommerce provides merchants with a suite of ecommerce software tools to start and grow their online stores. Our family of companies and brands includes Pixel Union, Out of the Sandbox, KnoCommerce, Archetype, Yopify, SuppleApps, Rehash, Foursixty and Stamped. As one of Shopify’s first partners since 2010, WeCommerce is focused on building, acquiring, and investing in leading technology businesses operating in the Shopify partner ecosystem.

For more about WeCommerce, please visit https://www.wecommerce.co/ or refer to the public disclosure documents available under WeCommerce’s SEDAR profile at www.sedar.com.

Forward-Looking Information

This news release contains certain forward-looking statements and forward-looking information within the meaning of applicable securities law. Such forward-looking statements and information include, but are not limited to, statements with respect to the business and assets of WeCommerce and its strategy going forward. Forward-looking statements and information are frequently characterized by words such as “plan”, “project”, “intend”, “believe”, “anticipate”, “estimate”, and other similar words, or statements that certain events or conditions “may” or “will” occur. Although the Company’s management believes that the assumptions made and the expectations represented by such statement or information are reasonable, there can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking statements and information if circumstances or management’s estimates should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements and information. More detailed information about potential factors that could affect results is included in the documents that may be filed from time to time with the Canadian securities regulatory authorities by the Company. For a more detailed discussion of certain of these risk factors, see the Company’s most recent MD&A described in the “Risk Factors” as well as the list of risk factors in the Company’s Annual Information Form available on SEDAR at www.sedar.com under the Company’s profile.

SOURCE: WECOMMERCE HOLDINGS LTD.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230302005851/en/

Contacts

David Charron
Chief Financial Officer
Phone: 416-418-3881
Email: [email protected]

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