Toronto, Ontario (FSCwire) - EQ Inc. (TSX: EQ) (the “Corporation”) announced today that, subject to final TSX Venture Exchange (“TSX-V”) approval, it has completed its issuance of approximately $1,421,000 non-convertible secured promissory notes (the “Promissory Notes”) and Bonus Warrants (as defined below), the terms of which were initially announced on August 20, 2015.  The Promissory Notes will accrue interest at a rate of 8% per annum, calculated annually, and will be due twelve months from the date of issuance.  

In connection with the issuance of the Promissory Notes, the lenders received seven non-transferable warrants (the “Bonus Warrants”) for each dollar of principal amount of Promissory Notes, with each Bonus Warrant being exercisable for a period of twelve months from the date of issuance for one common share of the Corporation (a “Bonus Share”) at an exercise price of $0.10 per Bonus Share.  All Bonus Shares are subject to a four month hold period from the date of issuance in accordance with applicable securities law.

An aggregate of $586,791 of the Promissory Notes were purchased by certain non-arm’s length lenders, being Vernon Lobo, the Chairman and a director of the Corporation, Geoffrey Rotstein, the President, Chief Executive Officer and a director of the Corporation, and Dilshan Kathriarachchi, the Chief Technology Officer of the Corporation.

The Corporation expects to use the proceeds from the issuance of the Promissory Notes to execute its business plan and for working capital requirements.

The issuance of the Promissory Notes and the Bonus Warrants constitutes a “related party transaction” under Multilateral Instrument 61-101 Protection of Minority Holders in Special Transactions (“MI 61-101”).  The Corporation is relying, however, on an exemption from the valuation and minority voting requirements of MI 61-101.

About EQ Works

EQ Works (www.eqworks.com) provides a smarter way to target customers. The Corporation uses its real-time technology and advanced analytics to detect the actionable data that boosts performance for all web, mobile, social and video initiatives. EQ Works balances the many components that comprise the complex advertising ecosystem and establishes equilibrium for reaching the right audience at the right time through any web or mobile device.

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Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release may contain forward-looking statements that are based on management’s current expectations and/or assumptions relating to, among other things, the use of proceeds from the issuance of the Promissory Notes, and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements.  This list is not exhaustive of the factors that may affect any of the Corporation’s forward-looking statements.  These and other factors should be considered carefully and readers should not place undue reliance on the Corporation’s forward-looking statements.  The Corporation is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

EQ Inc.

1255 Bay Street, Suite 400| Toronto, Ontario |M5R 2A9

p: 416.597.8889  f: 416.597.2345

press@eqworks.com

www.eqworks.com

Contact: Geoffrey Rotstein, President and Chief Executive Officer

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