Toronto, Ontario--(Newsfile Corp. - June 25, 2026) - Elevate Service Group Inc. (TSXV: SERV) (FSE: Y19) ("Elevate" or the "Company") is pleased to announce that it has entered into an agreement with Beacon Securities Limited ("Beacon") to act as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters (together with Beacon, the "Underwriters"), in connection with a "bought deal" private placement of 3,685,000 common shares in the capital of the Company (each, a "Common Share") at a price of $1.90 per Common Share (the "Issue Price") for aggregate gross proceeds to the Company of $7,001,500 (the "Offering").
In addition, the Company has granted the Underwriters an option (the "Underwriters' Option") exercisable, in whole or in part, at any time up to 48 hours prior to the Closing Date (as defined herein) to purchase up to an additional 552,750 Common Shares at the Issue Price for additional gross proceeds of up to $1,050,225.
The Common Shares to be issued under the Offering will be offered pursuant to "accredited investors" in each of the Provinces of Canada and to eligible purchasers resident in jurisdictions other than Canada that are mutually agreed to by the Company and Beacon. The Common Shares may also be offered in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in those other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation of the Company arises in such other jurisdiction.
The Offering is expected to strengthen Elevate's balance sheet and provide additional capital to support the Company's acquisition pipeline, organic growth initiatives, working capital requirements, and broader strategy of consolidating the fragmented facilities management and essential commercial services sector.
"This financing represents an important milestone for Elevate as we continue to build a scalable national platform in a large and fragmented market," said Paul Bissett, Chief Executive Officer of Elevate. "With a growing base of blue-chip customers, a proven operating platform, and a disciplined acquisition strategy, we believe Elevate is well positioned to continue expanding its service capabilities, geographic reach, and long-term shareholder value."
The Offering is expected to close on or about July 16, 2026 (the "Closing Date"), and is subject to certain conditions of closing, including the Company receiving all necessary regulatory approvals, including, without limitation, the conditional approval of the TSX Venture Exchange ("TSXV").