Mr. Trevor Davidson reports

APARTMENTLOVE COMPLETES FINAL TRANCHE OF ITS PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT

Apartmentlove Inc. has closed the third and final tranche of its previously announced non-brokered private placement of units of the company at a price of 15 cents per unit.

Under the final tranche, the company issued an aggregate of 999,998 units for gross proceeds of $149,999.70. Together with the first tranche and the second tranche of the private placement, the company has raised aggregate gross proceeds of $447,499.35 and issued an aggregate of 2,983,329 units. The net proceeds from the private placement will be used by the company for general working capital purposes.

Each unit comprises (i) one common share of Apartmentlove; and (ii) one-half of one common share purchase warrant of Apartmentlove. Each warrant shall be exercisable to purchase one additional common share at an exercise price of 25 cents for a period of two years from the date of issuance. Pursuant to applicable securities laws, all securities issued pursuant to the private placement will be subject to a four-month-and-one-day statutory hold period commencing from the date of issuance.

Fees were paid to certain finders in connection with the private placement. Such fees comprised a cash portion of 7 per cent of the gross proceeds received from persons introduced to the company by such finders, as well as common share purchase warrants of Apartmentlove in an amount equal to 7 per cent of the units subscribed for by persons introduced to the company by such finders. Each broker warrant may be exercisable to purchase one additional common share of Apartmentlove at an exercise price of 25 cents for a period of two years from the date of issuance.

A director, as defined in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions), participated in the private placement, either directly or indirectly, therefore the private placement constitutes a related-party transaction within the meaning of MI 61-101. In its consideration and approval of the private placement, the company's board of directors determined that the private placement is exempt from the formal valuation and minority approval requirements of MI 61-101 on the basis that the fair market value of the private placement to related parties does not exceed 25 per cent of the market capitalization of the company, in accordance with sections 5.5 and 5.7 of MI 61-101.

We seek Safe Harbor.