CALGARY, AB / ACCESSWIRE / November 14, 2018 / ELEPHANT HILL CAPITAL INC. (TSXV - EH.P) (the "Corporation" or "Elephant Hill"), a capital pool company, is pleased to announce that Podium Advertising Technologies Ltd. operating under the commercial name ADCORE, the Corporation's proposed business combination partner as disclosed in its previous press release of September 5, 2018 (the "Transaction"), has reached a significant growth milestone of 8,000 accounts managed under its platform during November 2018.
The successful release of ADCORE Views, the 6th version of the company's search automation platform in Q3 2017, followed by the Q2 2018 release of an entirely new product, SEMDOC2, a comprehensive account auditing tool, have jointly led the way to an all-time record in client acquisition in H1 2018, with a 400% YoY spike, yielding the 8,000 managed accounts achievement.
With over 500 agencies and upwards of 8,000 Google and Bing advertisers using ADCORE's platform, ADCORE is one of the largest and fastest growing platforms within the digital advertising segment.
Omri Brill, CEO of ADCORE, commented, "Over the years ADCORE has achieved many significant awards and records, including three consecutive Deloitte's Fast 50 Growing Technology Companies Awards, but this 8,000 managed accounts milestone may just surpass them all. I see it as a clear vote of confidence in the company's technology coming directly from our client base."
About ADCORE
ADCORE is a leading digital advertising high-tech company. ADCORE's machine learning AI technology significantly improves online advertising effectiveness for its clients. The software allows Fortune 500 Companies and small to mid-size businesses to optimize ad spend and see an immediate measurable return on advertising investment.
For further information regarding the Transaction, please contact:
For Elephant Hill
Mo Fazil
Tel: +1 (403) 613-7310
Email: mofazil@gmail.com
For ADCORE
Omri Brill
CEO
+972-54-6769-415
omri@adcore.com
Roy Nevo
COO
+972-54-6605-006
roy@adcore.com
For PI Financial Corp.
Blake Corbet
Head of Technology & Healthcare Investment Banking
+1 (604) 644-9222
bcorbet@pifinancialcorp.com
For XIB Asset Management Inc.
Joel Kitsul
Director
+1 (604) 309-9938
joel@xibfinancial.com
Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and, if applicable, pursuant to the requirements of the TSXV, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder and regulatory approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Corporation should be considered highly speculative.
This press release is not an offer of securities for sale in the United States. The securities described in this press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed Transaction; the terms and conditions of the proposed Financing; future developments and the business and operations of the "Resulting Issuer" after the proposed Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that the Transaction will proceed and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation and Podium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Elephant Hill Capital Inc.
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