Elevate Service Group Announces Upsize of Bought Deal Private Placement to $10 Million

About this update from Elevate Service Group Inc

Toronto, Ontario--(Newsfile Corp. - June 26, 2026) - Elevate Service Group Inc. (TSXV: SERV) (FSE: Y19) ("Elevate" or the "Company") is pleased to announce that it will upsize its previously announced "bought deal" private placement. Under the amended terms, the Company will issue 5,264,000 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 $10,001,600 (the "Offering"). Beacon Securities Limited ("Beacon" or the "Underwriter") is acting as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Canaccord Genuity Corp. and Raymond James Limited (together with Beacon, the "Underwriters") in connection with the Offering. 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. 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"). The securities issued pursuant to the Offering will be subject to a statutory hold period of four months from the Closing Date in accordance with Canadian securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdi...

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