Mr. Trevor Davidson reports

APARTMENTLOVE SIGNS SHARE SUBSCRIPTION AGREEMENT PROVIDING ACCESS TO GROWTH CAPITAL

Apartmentlove Inc. has signed a share subscription agreement between the company and GEM Global Yield LLC SCS (GGY), a $3.4-billion (U.S.) dollar alternative investment group with offices in New York, Paris and the Bahamas.

The share subscription agreement provides Apartmentlove the ability to draw multiple tranches of common shares over the three-year term of the share subscription agreement. Net proceeds received by the company from the share subscription agreement are intended to be used to finance the company's growth programs and general working capital.

"Signing the share subscription agreement with GGY is further validation of Apartmentlove's business model and rise as a leader in the Internet-listing industry," said Trevor Davidson -- the company's president and chief executive officer. "Proceeds from the draw downs are expected to provide Apartmentlove with the cash we need to execute our sales and marketing programs increasing our global user base. An especially exciting time for the company and yet another vote of confidence in our team and our technology, this facility provides us with the comfort and confidence to grow our business, achieve our targets and generate superior returns for all our shareholders."

The company's active and proven scalable sales and marketing activities include custom search engine optimization (SEO) activities and, among many other instruments, the actioning of multiple new listing supply agreements adding, in aggregate, as many as several million short-term vacation rental (STVR) listings on the company's dedicated STVR marketing website, OwnerDirect.com. In aggregate, listing agreements signed by the company provide access to approximately three million STVR listings in more than 100 countries worldwide.

Pursuant to the terms of the share subscription agreement, the company may deliver an unlimited number of draw down notices to GGY, which may require GGY to subscribe for additional common shares financing the draw down notices received from Apartmentlove. The company may place and receive up to four initial draw down notices for an aggregate subscription amount for all initial draw downs not to exceed $2.5-million, and each such initial draw down notice to be for an amount not less than $500,000 or greater than $1-million. The maximum number of common shares that may be subject to a subsequent draw down following the initial draw downs is that number of common shares that does not exceed 700 per cent of the average daily trading volume of the common shares on the Canadian Securities Exchange during the 15 trading days immediately preceding the date of each respective subsequent draw down notice and, when combined with all prior draw downs, would not result in aggregate subscription proceeds received by Apartmentlove from GGY to exceed the $20-million commitment amount.

The purchase price payable by GGY for common shares subject to a draw down notice is the greater of: (a) a minimum price stated by the company in the applicable draw down notice; or (b) 90 per cent of the average closing price of the common shares on the CSE for the 15 trading days immediately preceding the closing date for the subscription pursuant to such draw down notice.

In connection with the execution of the share subscription agreement, the company has agreed to pay a fee to GGY in an amount equal to 7.5 per cent of the total commitment amount which, at the company's option, is payable in cash or common shares and shall be held in escrow until the first anniversary of the effective date of the share subscription agreement. The company has also agreed to issue 6.25 million common share purchase warrants to GGY which vest on the date that is 120 days following the issuance date of the warrants and shall be exercisable to purchase a common share at a price of 20.4 cents per common share for a period of 36 months from the vesting date of the warrants.

The company plans to offer common shares under the share subscription agreement to purchasers resident in Canada (other than Quebec) and/or other qualifying jurisdictions, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions (NI 45-106). Because the offering is being completed pursuant to the listed issuer financing exemption, the common shares so issued will not be subject to a statutory hold period pursuant to applicable Canadian securities laws.

There is an offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

About Apartmentlove Inc.

Apartmentlove is a leading provider of on-line home, apartment and vacation rental marketing services to property managers, owners, renters and vacationers in more than 30 countries around the world. Promoting more than 350,000 daily active homes, apartments and vacation properties on its network of short-term and long-term rental marketing websites, Apartmentlove has proven its ability to scale as a fast-growing proptech in today's complex and dynamic markets. Seeking to consolidate the deeply fragmented internet listing industry, Apartmentlove has acquired multiple businesses that have many monthly active users, a history of recurring revenues, positive cash flows, and/or custom technologies that accelerate and destress the renting experience.

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