WeCommerce Announces Payment of Contingent Consideration Pursuant to Stamped Acquisition | Business

VICTORIA, British Columbia–(BUSINESS WIRE)–February 4, 2022–

WeCommerce Holdings Ltd. (“WeCommerce” or the “Company”) (TSXV: WE), a leading provider of e-commerce enabling software and tools for merchants, today announced that following its acquisition of substantially all of the assets of Stamped.io Pte. ltd. (” Stamp ”) dated April 6, 2021, the contingent consideration (the “ Conditional consideration ”) payable was satisfied by the issuance of 1,241,742 WeCommerce Class A common shares at a deemed price per share of C$25.43. Shares issued as contingent consideration are subject to a statutory hold period expiring on the date that is four months and one day after the date of issue. After giving effect to the issuance, WeCommerce has 41,071,090 Class A common shares outstanding.

Stamp is an e-commerce marketing platform that enables leading brands to accelerate growth, improve customer engagement and improve conversion through its suite of products including reviews & ratings and loyalty and rewards. Over 45,000 merchants trust Stamped to accelerate their business.

For more information, please see the Definitive Agreement Announcement and the Closing Announcement, dated March 5 and April 6, 2021, respectively.

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, Archetype, Yopify, SuppleApps, Rehash, Foursixty and Stamped. As one of Shopify’s premier partners since 2010, WeCommerce is focused on building, acquiring, and investing in leading technology companies operating within the Shopify partner ecosystem.

To learn more about WeCommerce, please visit www.wecommerce.co or review the public disclosure documents available under WeCommerce’s SEDAR profile on SEDAR at www.sedar.com.

Forward-looking information

This press release contains certain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements and information include, but are not limited to, statements or information regarding: management’s expectations regarding the future of the e-commerce industry (including growth prospects for this industry) and management’s expectations regarding the company’s future role in the e-commerce industry. Forward-looking statements are based on the opinions and estimates of management as of 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 actuals differ materially from those anticipated in the forward-looking statements. research 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. Readers are 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 documents that may be filed from time to time with Canadian securities regulators by the Company. For a more detailed discussion of some of these risk factors, see the Company’s most recent MD&A described under the heading “Risk Factors” as well as the list of risk factors in the Company’s Annual Information Form for the year ended December 31, 2020 which is available on SEDAR at www.sedar.com under the Company’s profile.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS ITS TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220204005107/en/

CONTACT: Company Contact:

David Charon

Financial director

Phone: 416-418-3881

Email:[email protected] Relations:

Tom Colton

Investor Relations Gateway

Phone: 949-574-3860

Email: [email protected]

KEYWORD: UNITED STATES NORTH AMERICA CANADA

INDUSTRY KEYWORD: SOFTWARE OTHER RETAIL MARKETING INTERNET COMMUNICATION TECHNOLOGY ONLINE RETAIL RETAIL

SOURCE: WECOMMERCE HOLDINGS LTD.

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PUBLISHED: 02/04/2022 17:05 / DISK: 02/04/2022 17:06

http://www.businesswire.com/news/home/20220204005107/en

Copyright BusinessWire 2022.

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