Elevate Service Group Announces $7 Million Bought Deal Private Placement to Accelerate National Facilities Management Consolidation Strategy
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").
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.
The Company has agreed to pay the Underwriters a cash commission of 6.0% of the gross proceeds raised under the Offering (reduced on certain orders) and issue to the Underwriters such number of compensation options (each a "Compensation Option"), equal to 6.0% of the number of Common Shares sold pursuant to the Offering (reduced on certain orders). Each Compensation Option shall entitle the holder thereof to acquire one common share of the Company at the Issue Price for a period of 24 months from the Closing Date.
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 jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
About Elevate Service Group Inc.
Elevate is a national facilities management and essential commercial services platform focused on consolidating and modernizing this fragmented sector. Through its operating companies, Elevate brings over 20 years of experience as a trusted partner to national, blue-chip customers. Elevate's strategy is to integrate a portfolio of profitable operating businesses across a scalable, national platform supported by shared infrastructure, technology, and operational best practices. This approach drives efficiencies, expands service offerings, and enhances customer outcomes while extending Elevate's geographic reach. Elevate trades on the TSX Venture Exchange under the ticker "SERV".
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates, and projections as of the date of this press release. Statements regarding the use of the net proceeds of the Offering and the anticipated Closing Date, and other predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance (often, but not always, using phrases such as "expects", "anticipates", "plans", "believes", "intends", or stating that certain actions, events, or results "may", "could", "would", "might", or "will" be taken or occur) are not statements of historical fact and may be forward-looking information.
In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that the Offering will be completed on the anticipated terms and timing, that all necessary regulatory and other approvals (including the conditional approval of the TSXV) will be obtained, that the net proceeds of the Offering will be used as anticipated, and that general business and economic conditions will not change in a material adverse manner. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that such expectations will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause actual results to differ materially from those expressed or implied, including risks relating to the
failure to complete the Offering or to obtain the necessary regulatory approvals on the anticipated terms or at all, the use of the net proceeds of the Offering, the Company's dependence on third-party financing and the uncertainty of additional financing, market conditions, the risk factors set out in the Company's filings with the Canadian securities regulators available under the Company's profile on SEDAR+ at www.sedarplus.ca, and general business, economic, competitive, political, and social uncertainties. Readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Elevate Service Group Inc.
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Source: Elevate Service Group Inc.
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