LONDON, ON--(Marketwired - January 02, 2015) - iLOOKABOUT Corp. (TSX VENTURE: ILA) ("iLOOKABOUT" or "the Company") announced today that, subject to the approval of the TSX Venture Exchange, the Company will issue 75,474 Common Shares to settle $21,888 of accrued dividends on its Series 1 Preference Shares (the "Preference Shares"). In March 2012, the Company issued 750,000 Preference Shares by way of a private placement. The Preference Shares provide for settlement of unpaid dividends by the issuance of Common Shares instead of cash at the option of the holder. iLOOKABOUT has received notices to convert unpaid dividends totaling $21,888 on January 2, 2015, from ten Preference Share holders, six of which are currently Insiders of the Company. The Dividend Conversion Rate is the aggregate amount of accrued dividends to be converted, divided by the Market Price of the Common Shares on the business day before such conversion right is exercised. As the closing market price of the Common Shares on December 31, 2014 was $0.29, the Company will issue 75,474 Common Shares to settle accrued dividends being converted.
About iLOOKABOUT
iLOOKABOUT is a data analytics and visual intelligence company focused on real property, serving primarily the property assessment, property taxation, municipal, insurance, and appraisal sectors, both public and private, in North America. iLOOKABOUT's origins are with its StreetScape imagery and web-based geographic information system ("GIS") application, GeoViewPort', which federates property related data and enables desktop review of properties. iLOOKABOUT has recently integrated powerful new data analytics and workflow management applications into its existing products to create several new service offerings uniquely customized for its clients. These new offerings include Real Property Tax Analytics ("RPTA"), Realty Tax Management ("RTM") and Confirm My Assessment. To augment the Company's technology based offerings, real estate consulting services are also now provided, with a focus on the Property Tax and Valuation sectors.
Headquartered in London, Ontario, Canada, iLOOKABOUT's common shares are traded on the TSX Venture Exchange under the symbol ILA.
Neither 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.
Contact:
Robin Dyson
CFO
iLOOKABOUT Corp.
robin.dyson@ilookabout.com
1.866.963.2015
www.ilookabout.com
