NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- MediaValet Inc. (TSX-V:MVP), is pleased to
announce that it has completed its previously announced debenture unit offering for gross proceeds of $1,550,762.00 (the
“Offering”). The Offering consisted of 10% unsecured convertible debentures (the "Debentures") of MediaValet in the aggregate
principal amount of $1,550,762.00 and an aggregate of 31,015,240 common share purchase warrants (the “Warrants”).
The Debentures mature three years after the date of issue and may be converted in whole or in part, at the sole
discretion of the subscribers, at any time prior to the maturity date into common shares of the Company (each a “Conversion
Share”). The conversion rate is $0.05 for each Conversion Share within the first twelve months from the issue date, and $0.10 for
each Conversion Share thereafter to expiry of Debentures. The Company has the option to force conversion of the Debentures should
the daily volume weighted average trading price of the Common Shares be greater than $0.10 for any 10 consecutive trading days
within 12 months from the issue date, and $0.15 per share thereafter.
Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.05 for a period of
three years. The Warrants are subject to accelerated expiry in the event the daily volume weighted average trading price of the
Common Shares equals or exceeds $0.10 for 10 consecutive trading days (an “Acceleration Event”), in which case, the Company may
accelerate the expiry date of the warrants to a date that is not less 60 days after the issuance of a press release announcing that
the expiry date of the Warrants has been accelerated, provided that such news release is issued within 10 business days of the
Acceleration Event. The Company shall also give written notice to the holders of Warrants not less than 30 days before the new
expiry of the Warrants.
Securities issued pursuant to the Offering will be subject to a hold period of four months expiring July 21,
2019.
Insiders and their affiliates subscribed for a total of $1,025,080.00 consisting of Debentures with an aggregate
principal amount of $1,025,080.00 and 20,501,600 Warrants as follows: Rob Chase: $500,000 and 10,000,000 Warrants, David MacLaren:
$250,000 and 5,000,000 Warrants, Robert Garnet: $10,000 and 200,000 Warrants, and Thomas Kenny: $265,080 and 5,301,600
Warrants.
The Company intends to use the net proceeds of the Offering to provide the working capital required to fund its
current growth objectives and to continue executing on its strategic plan.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the “U.S. Securities Act”), or under any state securities laws and may not be offered or sold within the United
States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
About MediaValet Inc.
MediaValet stands at the forefront of the enterprise, cloud‐based, digital asset management industry. Built
exclusively on Microsoft Azure and available within 140 countries, across 54 Microsoft data center regions around the world,
MediaValet delivers unparalleled enterprise class security, reliability, redundancy and scalability while offering the largest
global footprint of any DAM solution. In addition to providing all core DAM capabilities and local desktop‐to‐sever‐to‐cloud
support for creative teams, MediaValet offers industry leading integrations with Slack, Adobe Creative Suite, Microsoft Office 365,
Oracle Marketing Cloud (Eloqua), Wrike, Drupal 8, WordPress, Hootsuite and many other best‐in‐class 3rd party applications.
Follow MediaValet: Blog, Twitter and LinkedIn
For further information, please contact:
David MacLaren, CEO | david.maclaren@mediavalet.com | Tel: (604) 688-2321
Babak Pedram, Investor Relations | babak.pedram@mediavalet.com | Tel: (416) 644-5081
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.
