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Feb 19, 2021

EQ Inc. Closes Overnight Marketed Public Offering of Common Shares

Jeffrey K. Merk, Russell J. Sanders, Alicia McKeag, Meredith McCann and Francesco Gucciardo

EQ Inc. (TSX-V: EQ) (the “Company”), a leader in geospatial data and artificial intelligence driven software, closed its previously announced overnight marketed offering (the “Offering”) of an aggregate of 7,187,500 common shares in the capital of the Company (the “Offered Securities”) at a price of $1.60 per Offered Security for total gross proceeds of $11,500,000.

The Offered Securities were offered by way of a short form prospectus filed in each of the Provinces of Canada, other than Québec, and in the United States on a private placement basis to “qualified institutional buyers” pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and by private placement to eligible purchasers resident in jurisdictions other than Canada and the United States.

The Company intends to use the net proceeds of the Offering to further develop its proprietary SaaS platform, expand its artificial intelligence and machine learning practices, marketing and branding initiatives, research and development, expansion into the United States and for working capital and general corporate purposes.

Aird & Berlis acted for EQ Inc. with a team that included Jeffrey Merk, Russell Sanders, Alicia McKeag and Meredith McCann (Capital Markets) and Francesco Gucciardo (Tax).

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