QYOU Media Completes $1.8 Million Private Placement
30 Octubre 2019 - 2:15PM
QYOU Media Inc. (TSXV: QYOU; OTCQB: QYOUF) (“QYOU” or the
“Company”) announced today it completed its final closing of its
previously announced (see QYOU news releases dated August 30, 2019,
October 2, 2019 and October 11, 2019) non-brokered private
placement of units of the Company (“Units”) on October 30, 2019 for
gross proceeds of $100,000 (the “Tranche”), bringing total
aggregate gross proceeds to $1,800,000. The Company issued a total
of 2,000,000 Units at a price of $0.05 per Unit in connection with
the Tranche, bringing aggregate Units issued to 36,000,000 in
connection with the offering. Each Unit is comprised of one common
share in the capital of the Company, one-half of one common share
purchase warrant exercisable at $0.06 per share until September 30,
2020 and an additional one-half of one common share purchase
warrant exercisable at $0.10 per share until September 30, 2021.
The Company paid finder’s fees to certain
persons who assisted the Company in connection with the Tranche,
bringing total compensation paid to $113,300. The Company issued a
total of 2,266,000 Units, exercisable at a price per Unit of $0.05
until September 30, 2021, as compensation options in connection
with the offering.
All of the securities issuable in connection
with the offering are subject to a hold period expiring four months
and one day after date of issuance.
The offering is subject to the final approval of
the TSX Venture Exchange.
The proceeds derived from the sale of the Units
will be used for continued investment in the Company’s subsidiary,
QYOU India, and working capital for the Company.
The securities offered pursuant to the offering
have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or
any U.S. state securities laws and may not be offered or sold in
the United States absent registration or an available exemption
from the registration requirement of the U.S. Securities Act and
applicable U.S. state securities laws. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of, such securities being offered
pursuant to the offering in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
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
Zoe Mumba
Platform Communications for QYOU Media
+44 (0) 207 486
qyou@platformcomms.com
Natasha RobertonVP Marketing, QYOU Media+49 152
2254 7680tash@qyoutv.com
Jeff Walker,Investor Relations for QYOU Media+1
403 221 0915jeff@howardgroupinc.com
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, final the
approval of the TSX Venture Exchange of the offering and the
listing of certain securities being issued thereunder and the
expected use of proceeds from the offering. 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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