Proceeds to Support Global Sales and Marketing Efforts and Accelerate New Product Features, Integrations and Partnerships
VANCOUVER, BC--(Marketwired - November 09, 2016) - MediaValet
Inc. (TSX VENTURE: MVP) (the "Company"), a leading provider of
cloud-based digital asset management software, is pleased to announce that it has reached an agreement to issue a $2.0 million
senior secured debenture (the "Debenture"). The Debenture has a three-year term and will bear interest at 10% per annum, payable
monthly, in arrears on the first day of each month, commencing December 1, 2016. The Debenture will be secured by a charge over
all property and assets of the Company and will rank equally with the Company's current outstanding senior secured
indebtedness.
The net proceeds of the Debenture will be used to support the Company's global sales and marketing efforts, accelerate product
development, and for general working capital purposes.
About MediaValet Inc.
MediaValet stands at the forefront of the cloud-based digital asset management industry. Built exclusively on
Microsoft Azure and available on 34 highly secure and hyper scalable data centers around the world, MediaValet is uniquely
equipped to meet the digital asset management needs of any organization, no matter its size, its industry or its location.
Cutting-edge technology, exceptional product design, and unlimited support are at the core of MediaValet's DNA -- ensuring
exceptional customer and user experiences are delivered at all times.
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"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."