Real Matters Announces Amendment to Normal Course Issuer Bid

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TORONTO — Real Matters Inc. (“Real Matters” or the “Company”) (TSX: REAL) announced today that the Toronto Stock Exchange (“TSX”) has approved an amendment to the issuer bid in the current normal course (“OPRCN”) of the Company. ) to increase the number of common shares that the Company may repurchase for cancellation from 6,000,000 common shares (approximately 7.8% of the 76,489,997 common shares in the public as of May 31, 2021) to 7,648,999 common shares (representing 10.0% of the 76,489,997 common shares in the public as of May 31, 2021). No other NCIB requirements have changed.

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The Company believes that the prevailing market price of its common shares does not currently reflect its underlying value, such that the purchase of common shares for cancellation represents an attractive opportunity to restore value to ordinary shareholders of the Company.

Since the commencement of the issuer bid, Real Matters has purchased for cancellation 4,147,256 common shares at a weighted average price of $11.78. The Company’s previously approved issuer bid began on June 11, 2021 and was amended on November 24, 2021. The new amended issuer bid will begin on May 10, 2022 and run until June 10, 2022, or any earlier date on which the company acquired the maximum number of common shares authorized under the issuer bid or spent C$70 million. The Company has spent up to C$70 million to purchase common shares under the tender offer, of which C$48,860,512 has been spent to date, leaving C$21,139,488 available for purchases. The actual number of common shares purchased by the Company pursuant to the issuer bid and the timing of such purchases will be determined by the Company. Subject to certain prescribed exceptions, daily purchases under the Amended Issuer Bid will continue to be limited to a maximum of 153,956 Common Shares, or 25% of the average daily trading volume of the Common Shares of the Company for the six months ended May 31, 2021. (i.e. 615,827 ordinary shares).

Purchases under the issuer bid will continue to be made through the facilities of the TSX and other Canadian trading systems at the prevailing market price at the time of acquisition. All common shares purchased will be cancelled.

Real Matters previously entered into an automatic stock purchase plan (the “Plan”) with National Bank Financial Inc. to permit the purchase of common shares under the issuer bid at times when the company would not normally be active in the market due to its own internal trading blackout periods, insider trading rules or the like. The regime will continue to apply to the amended issuer bid.

FORWARD-LOOKING INFORMATION

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements relating to the Company’s belief regarding the intrinsic value of its common stock. Words such as “could”, “anticipate”, “target”, “may”, “will”, “would”, “expect”, “anticipate”, “estimate”, “intend to” , “plans”, “seeks”, “believes”, “likely” and “predicts” and variations of these words and similar expressions are intended to identify such forward-looking information, although not all forward-looking information contains such words. identification.

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The forward-looking information in this press release includes statements that reflect management’s current expectations based on information currently available to management. While the Company believes these expectations to be reasonable, these statements, by their nature, involve risks and uncertainties and should not be construed as guarantees of the occurrence or timing of future events, performance or results. . A detailed discussion of factors that could cause results or events to differ from current expectations can be found in the “Risk Factors” section of our Annual Information Form for the year ended September 30, 2021, which is available on SEDAR at the address www.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking information, which reflects our expectations only as of the date of this press release. Except as required by law, we do not undertake to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

About real questions

Real Matters is a leading provider of network management services to the mortgage and insurance industries. Real Matters’ platform combines its proprietary technology and networking capabilities with tens of thousands of qualified independent professionals in the field to create an efficient marketplace for the provision of mortgage and insurance services. Our clients include the top 100 mortgage lenders in the United States and some of the largest insurance companies in North America. We are one of the leading independent providers of residential real estate appraisals in the mortgage market and one of the leading independent providers of title and mortgage closing services in the United States. Based in Markham (ON), Real Matters has main offices in Buffalo (NY), Middletown (RI) and Scottsdale (AZ). Real Matters is listed on the Toronto Stock Exchange under the symbol REAL. For more information, visit www.realmatters.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220506005112/en/

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For more information:
Lyne Beauregard
Vice President, Investor Relations and Corporate Communications
Real Questions
[email protected]
416.994.5930

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Denise W. Whigham