QYOU Media Announces Intention to Extend Warrants Expiring in October 2019
15 Octubre 2019 - 6:15PM
QYOU Media Inc. (TSXV: QYOU; OTCQB: QYOUF) (“QYOU” or the
“Company”) announces that it intends to extend the term of warrants
that are due to expire on October 30, 2019 until March 31, 2020.
These warrants were issued in connection with the Company’s short
form prospectus offering completed on April 30, 2019. Under the
offering, the Company issued units comprised of one common share of
the Company, one-half of one common share purchase warrant (each
such whole common share purchase warrant, a “10 Cent Warrant”) and
a second one-half of one common share purchase warrant (each such
whole common share purchase warrant, a “12 Cent Warrant”). Each 10
Cent Warrant is exercisable to purchase one common share in the
capital of the Company at a price of $0.10 per 10 Cent Warrant
Share until October 30, 2019. The Company intends to extend the
expiry date of the 10 Cent Warrants until March 31, 2020. At this
time, the Company does not intend to amend the terms of the 12 Cent
Warrants.
An application has been submitted to the TSX
Venture Exchange for the extension of the 10 Cent Warrants until
March 31, 2020. Currently there are 19,167,625 10 Cent Warrants
issued and outstanding. The proposed extension of the expiration
date of the 10 Cent Warrants is subject to approval by the TSX
Venture Exchange.
To the Issuer’s knowledge, an aggregate of
500,000 10 Cent Warrants are held by insiders of the Company. The
extension of the 10 Cent Warrants held by insiders of the Company
constitutes a “related party transaction” within the meaning of
Regulation 61-101 – Protection of Minority Security Holders in
Special Transactions (“MI 61-101”). However, the amendment of the
10 Cent Warrants held by insiders of the Company is exempt from the
minority shareholder approval requirements of MI 61-101 by virtue
of the exemption contained in Section 5.7(1)(a) of MI 61-101.
About QYOU
QYOU Media Inc. is a growing global media
company that curates and packages premium content from leading
digital video creators for multiscreen distribution. Founded and
created by industry veterans from Lionsgate, MTV, and CinemaNow,
QYOU’s millennial and Gen Z-focused products including linear
television networks, genre-based series, mobile apps, and
video-on-demand formats reaches more than 500 million people around
the world.
Contact Information |
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Zoe Mumba |
Natasha Roberton |
Platform Communications for QYOU Media |
VP Marketing, QYOU Media |
+44 (0) 207 486 |
+49 152 2254 7680 |
qyou@platformcomms.com |
tash@qyoutv.com |
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Jeff Walker, |
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Investor Relations for QYOU Media |
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+1 403 221 0915 |
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jeff@howardgroupinc.com |
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Forward-Looking Statements
This press release contains certain
forward-looking statements within the meaning of applicable
securities laws. Words such as “expects”, “anticipates” and
“intends” or similar expressions are intended to identify
forward-looking statements. The forward-looking statements
contained herein may include, but are not limited to, the extension
of the 10 Cent Warrants and the approval of the TSX Venture
Exchange of such extension. These forward-looking statements are
based on QYOU’s current projections and expectations about future
events and other factors management believes are appropriate.
Although QYOU believes that the assumptions underlying these
forward-looking statements are reasonable, they may prove to be
incorrect, and readers cannot be assured that the offering and the
closing thereof will be consistent with these forward-looking
statements. Actual results could differ materially from those
projected in the forward-looking statements as a result of numerous
factors, including certain risk factors, many of which are beyond
QYOU’s control. Additional risks and uncertainties regarding QYOU
are described in its publicly-available disclosure documents, filed
by QYOU on SEDAR (www.sedar.com) except as updated herein. The
forward-looking statements contained in this news release represent
QYOU’s expectations as of the date of this news release, or as of
the date they are otherwise stated to be made, and subsequent
events may cause these expectations to change. QYOU undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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