News out - $5M PP Money to be raised for Expansion and Growth. If they can execute by increasing revenues every quarter, then we are well on our way up IMO. The recent buying tells us something is going on. If the share price drops to the PP price tomorrow, then this could be the last buying opportunity in the 20's.
QYOU Media to Raise $5 Million via Bought Deal
Toronto, Ontario, Dublin, Ireland and Los Angeles, California--(Newsfile Corp. - February 2, 2021) - QYOU Media Inc. (TSXV: QYOU) (the "Company" or "QYOU") has today entered into an agreement with Clarus Securities Inc., on behalf of a syndicate of underwriters including Canaccord Genuity Corp. and Gravitas Securities Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 17,857,200 units (the "Units") of the Company at a price of C$0.28 per Unit (the "Offering Price") for aggregate gross proceeds to the Company of C$5,000,016 (the "Offering"). Each Unit will be comprised of one common share of the Company (a "Unit Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a "Warrant Share") at a price of C$0.45 per Warrant Share for a period of 24 months following the Closing Date (as defined below).
The Company has also agreed to grant the Underwriters an over-allotment option to purchase an additional 2,678,580 Units at the Offering Price, exercisable in whole or in part, for a period ending 30 days from and including the Closing Date. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be C$5,750,018.40.
The Units will be offered in each of the provinces of British Columbia, Alberta and Ontario by short form prospectus. 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 Clarus, 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 February 25, 2021 (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.
The Company intends to use the net proceeds from the Offering to support the expansion and growth of distribution contracts, ad sales, content licensing and branding efforts in India on behalf of The Q India and QYOU Media India Pvt. Ltd., as well as 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. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the United States Securities Act of 1933, as amended, and applicable state securities laws or unless an exemption from such registration is available.
About QYOU
QYOU operates in India and the United States producing and distributing content created by social media stars and digital content creators. In India, we curate, produce and distribute premium content including television networks and video on demand ("VOD") for cable and satellite television, over-the-top ("OTT") and mobile platforms. In the United States, we manage influencer marketing campaigns for major film studios and brands. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony, QYOU's millennial and Gen Z-focused content reaches more than 650 million consumers around the world. Experience our work at www.qyoumedia.com and www.theq.tv.
Contact Information
Curt Marvis, Chief Executive Officer
416-368-6464, curt@theqyou.com