QYOU Media Raises $5 Million via Bought Deal
Summary
Each Warrant will entitle the holder thereof to purchase one common share of the Company (a Warrant Share) at a price of C$0.55 per Warrant Share for a period of 24 months following the Closing Date (as defined below).The Company has also agreed to grant the Underwriter an over-allotment option to purchase an additional 2,027,100 Units at the Offering Price, exercisable in whole or in part, for a period ending 30 days from and including the Closing Date. The Units may also be sold to United States purchasers on a private placement basis pursuant to an exemption from the registration requirements in Rule 144A of the United States Securities Act, and in those jurisdictions outside of Canada and the United States which are agreed to by the Company and the Underwriters, where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.The Offering is expected to close on or about November 21, 2017 (the Closing Date) and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.In connection with the Offering, PowerOne Capital Markets Limited has been appointed as a special advisor to the Company.The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of QYOU Media Inc. in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Founded and created by industry veterans from Lionsgate and MTV, QYOUs millennial-focused products including linear television networks, genre-based series, mobile apps, and video-on-demand formats reach millions of customers on six continents. Distribution partners include Sinclair Broadcast Group, Vodafone, 21st Century Fox, Liberty Global, Telenor and TATA Sky. These forward-looking statements are based on QYOUs current projections and expectations about future events and other factors management believes are appropriate.