/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
TORONTO, Oct. 20,
2023 /CNW/ - QYOU Media Inc. ("QYOU" or the
"Company") (TSXV: QYOU) is pleased to announce that it has closed
its previously announced non-brokered private placement of units of
the Company ("Units"), pursuant to which the Company issued
30,000,000 Units at a price of $0.07
per Unit for aggregate gross proceeds of approximately $2,100,000 (the "Offering").
Each Unit is composed of one (1) common share in the capital of
the Company (a "Share") and one (1) common share purchase warrant
of the Company (a "Warrant"). Each Warrant entitles the holder
thereof to acquire one (1) additional Share (a "Warrant Share") at
a price of $0.10 per Warrant Share
for a period of twenty-four (24) months, subject to an accelerated
expiry date at the option of the Company in the event that the ten
(10) day volume weighted average trading price of the Shares on the
TSX Venture Exchange ("TSXV") for any ten (10) consecutive trading
days is $0.25 or more.
The Company intends to use the net proceeds from the Offering to
build out its Maxamtech and QGamesMela gaming business, and for
general working capital purposes.
The Units issued under the Offering were offered to purchasers
pursuant to the listed issuer financing exemption (LIFE) under Part
5A of National Instrument 45-106 Prospectus Exemptions and
therefore the securities issued to such purchasers in the Offering
are not subject to a hold period pursuant to applicable Canadian
securities laws. There is an offering document (the "Offering
Document") related to the Offering that can be accessed under the
Company's profile on SEDAR+ at www.sedarplus.ca and at
www.qyoumedia.com.
The Company paid an aggregate of approximately $54,040 and issued finder's warrants to acquire
up to an aggregate of 1,973,060 Shares (the "Finder's Warrants") as
finder's fees to certain persons who assisted the Company in
connection with the first tranche of the Offering. Each Finder's
Warrant entitles the holder to acquire one (1) Share at a price of
$0.10 per Share for a period of
twenty-four (24) months. The Finder's Warrants, and Shares issuable
upon exercise of the Finder's Warrants, are subject to a statutory
four-month hold period pursuant to applicable Canadian securities
laws. The Offering is subject to the final approval of the
TSXV.
The securities issued pursuant to the Offering have not been,
nor will they be, registered under the United States Securities Act
of 1933, as amended (the "U.S. Securities Act") or any state
securities laws, and may not be offered or sold to, or for the
account or benefit of, persons in the
United States or U.S. persons absent registration under the
U.S. Securities Act and all applicable state securities laws or
compliance with the requirements of an exemption therefrom. 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 the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
About QYOU Media
One of the fastest growing creator-media companies, QYOU Media
operates in India and the United States producing, distributing and
monetizing content created by social media influencers and digital
content stars. In India, under our
flagship brand, The Q and on connected TV, via channels Q
Kahaniyan, Q GameX, Q Comedistaan & Sadhguru TV, we curate,
produce and distribute premium content across television networks,
VOD and OTT platforms, mobile phones, smart TV's and app-based
platforms. In addition, QYOU has numerous additional content
destinations, apps and gaming platforms engaging over 125 million
Indian households weekly. Our influencer marketing company,
Chtrbox, has been a pioneer in India's creator economy, leveraging data to
connect brands to the right social media influencers.
QGamesMela is a recently launched casual gaming business
leveraging access to the large audience enjoyed by Q India
products. In the United States, we
power major film studios, game publishers and brands to create
content and market via creators and influencers. Founded and
created by industry veterans from Lionsgate, MTV, Disney and Sony,
QYOU Media's millennial and Gen Z-focused content reaches more than
one billion consumers around the world every month.
Experience our work at www.qyoumedia.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. 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.sedarplus.ca) 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.
SOURCE QYOU Media Inc.