TORONTO and LOS ANGELES, October 15, 2019 – 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 – ProtectionofMinoritySecurityHoldersinSpecial 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.
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.
Zoe Mumba Natasha Roberton
Platform Communications for QYOU Media VP Marketing, QYOU Media
+44 (0) 207 486 +49 152 2254 7680
Investor Relations for QYOU Media
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