SAN FRANCISCO, Jan. 3, 2018 /CNW/ -- Frankly
Inc. (TSX VENTURE: TLK) (Frankly), a leader in
transforming local TV broadcast and media companies by enabling
them to publish and monetize their digital content across multiple
platforms, has entered into amendments of the Securities Purchase
Agreement between Raycom Media, Inc. ("Raycom") and Frankly dated
June 26, 2017 (the "SPA") and the
Credit Agreement between Raycom and Frankly dated August 31, 2016 (the "Credit
Agreement").
Under the amendment of the SPA, the date by which Frankly is
required to increase the size of its Board by two directors has
been extended from December 31, 2017
to March 31, 2018. Under the
amendment of the Credit Agreement, the period for commencement of
the Total Leverage Ratio and Interest Coverage Ratio covenants has
been extended from the calendar quarter ending December 31, 2017 to the calendar quarter ending
March 31, 2018.
About Frankly
Frankly (TSX VENTURE: TLK) builds an
integrated software platform for media companies to create,
distribute, analyze and monetize their content across all of their
digital properties on web, mobile and TV. Its customers include
NBC, ABC, CBS and FOX affiliates. The company is headquartered in
San Francisco with major offices
in New York. To learn more, visit
www.franklyinc.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Notice Regarding Forward-Looking
Statements
This release includes forward-looking
statements regarding Frankly and its business. Forward-looking
information is generally identifiable by use of the words
"believes," "may," "plans," "will," "anticipates," "intends,"
"could", "estimates", "expects", "forecasts", "projects" and
similar expressions, and the negative of such expressions.
Forward-looking statements in this release include, without
limitation, statements relating to the ability of Frankly to help
businesses monetize content. Forward-looking events and
circumstances discussed in this release may not occur in any
expected timeframes or at all. The actual results of circumstances
could differ materially from any forward-looking statement as a
result of known and unknown risk factors and uncertainties
affecting the company.
Forward-looking information is based on assumptions,
estimates, analysis and opinions of management that it believes to
be relevant and reasonable in light of its experience and
perception of trends, current conditions and expected developments,
and other circumstances as of the date such statements are made.
Although Frankly has attempted to identify important factors that
could cause actual results to differ materially from those
contained in any forward-looking statement, there may be other
factors that cause results not to be as anticipated.
No forward-looking statement can be guaranteed and
accordingly, readers should not place undue reliance on
forward-looking information. Except as required by applicable
securities laws, forward-looking statements speak only as of the
date on which they are made and Frankly undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
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SOURCE Frankly Inc.