TORONTO and LOS ANGELES, August 30, 2019 – QYOU Media Inc. (TSXV: QYOU; OTCQB:QYOUF) (the “Company”) is pleased to announce today that it expects to issue approximately 28,000,000 units of the Company (the “Units”) at a price of $0.05 per Unit, for gross proceeds of approximately $1,400,000. The Company may elect to close on a higher or lower number of Units.
Each Unit will be 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.
It is anticipated that the closing of the offering will occur on or about September 17, 2019.
Completion of the offering is subject to receipt of TSX Venture Exchange approval. All of the securities issuable in connection with the offering will be subject to a hold period expiring four months and one day after the date of issuance.
The net proceeds of the offering will be used for continued investment in the Company’s subsidiary, QYOU India, and working capital for the Company.
The securities being 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.
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
+1 403 221 0915