Emerge Commerce Ltd. Announces Sale of Premium Web Domains to Shopify Inc.
EMERGE Commerce Ltd. (TSXV: ECOM) (‘EMERGE’ or the ‘Company’), a premium e-commerce brand portfolio, is pleased to announce that it has sold its premium web domains, Shop.ca and Shop.us, to Shopify Inc. (NYSE: SHOP), for US$375,000, or approximately CA$536,000.
Background on the Sale
The sale of the Shop domains marks a significant milestone for EMERGE as it continues to focus on its core e-commerce business. The Company has been actively exploring opportunities to monetize non-core assets and improve its cash position. In recent years, the Shop domains had become idle and non-revenue generating under EMERGE’s ownership.
Management’s Perspective
Ghassan Halazon, founder and CEO of EMERGE, commented on the sale: "The Shop domains had been a legacy asset that no longer aligned with our strategic focus. By selling these domains to Shopify, we were able to generate non-dilutive cash proceeds that will support our future growth plans."
EMERGE’s Financial Position
EMERGE’s cash position has strengthened significantly over the past year, exceeding $3.0M at year-end, compared to $1.6M as of September 30, 2024, and $2.5M as of December 31, 2023.
Future Plans
Management is advancing discussions to monetize other non-core/ legacy assets to further bolster the Company’s cash position, while doubling down on its growing grocery and golf brands in 2025.
About EMERGE Commerce Ltd.
EMERGE is a premium e-commerce brand portfolio in Canada and the U.S. Our subscription and marketplace e-commerce properties provide our members with access to unique offerings across grocery and golf verticals.
Grocery Businesses
- truLOCAL: A premium meat and seafood subscription brand
- Carnivore Club: An artisanal meat brand
Golf Businesses
- UnderPar: A discounted tee-times/ experiences brand
- JustGolfStuff: A golf products & apparel brand
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Cautionary Notice
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This press release may contain certain forward-looking information and statements (‘forward-looking information’) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words ‘believes’, ‘anticipates’, ‘plans’, ‘intends’, ‘will’, ‘should’, ‘expects’, ‘continue’, ‘estimate’, ‘forecasts’ and other similar expressions, and including statements with respect to the anticipated savings to result from the implementation of the cost optimization and synergies initiative.
Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable).
Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including the risk factors discussed in the Company’s MD&A and Annual Information Form, which are available through SEDAR at www.sedar.com.
The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention, and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Story Continues
On Behalf of the Board
Ghassan Halazon
Director, President, and CEO
EMERGE Commerce Ltd.
Cision View original content: http://www.newswire.ca/en/releases/archive/January2025/07/c6607.html
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