SOURCE: Keek Inc.

Keek Inc.

February 06, 2015 08:30 ET

Keek Provides Update on Corporate Matters

NEW YORK, NY and TORONTO, ON--(Marketwired - February 06, 2015) - Keek Inc. (TSX VENTURE: KEK) (OTCQX: KEEKF), a leading global mobile video social media network with more than 73 million members featuring a unique 36 second video format, today provided an update on a number of corporate matters. 

Launch of Keek 3.0 and Other Product Advancements

The Keek product team reported that Keek Web 3.0 launched in North America on January 7, 2015 and rolled out worldwide on January 30, 2015. The slick new modular design of the Keek web platform improves the ease of content discovery and creates a more immersive user experience. Web 3.0 marks the beginning of the multi-platform Keek 3.0 re-design, which aims to provide simplicity, streamlined content, and flow, all qualities which modern mobile video consumers desire. The Keek 3.0 unveiling will continue with the activation of the Re-Keek feature in the coming weeks, followed by the Keek 3.0 redesign being implemented across all Keek mobile platforms, iOS, Android, and Windows alike. Additional product innovations are currently being planned and built to enhance the Keek journey, heighten the user experience, and continue to differentiate Keek.

Together with these enhancements, the Keek product team was able to realize significant improvements in the speed and performance of the Keek Web 3.0 platform within days of the global launch. Speed optimization efforts for Web 3.0 are nearly complete.

In addition, Keek's product team reported that in response to significant feedback from Keek's Android community, Messenger for Android is the final stages of development and will soon be released for the Android platform. Coupled with the imminent launch of the re-designed Messenger for Web, users on all major Keek platforms will have the ability to send private messages and group chat with each other in real time.

Global Content Creation and Mobile Session Time

Keek's analytics team reported that the Keek user base is producing growing amounts of content, and January 2015 saw an 8% month-over-month increase in keeks created when compared to December 2014. Keek's mobile video consumers responded in kind, as January 2015 saw a nearly 4% increase in average mobile session times, which grew to an average of 8.3 minutes.

Infrastructure

The IT team at Keek reported that following the consolidation and move of Keek's main global data centers in Toronto, Ontario, executed in November and December 2014, Keek's infrastructure is now stronger, additionally efficient, and more secure, qualities which combined allow for true scalability. This is a necessity as Keek management pursues deeper market penetration in North America and Western Europe, and as the community continues its growth in all regions of the globe.

Corporate

Keek's finance department reported that further to a prior release dated November 24, 2014, it has closed on the last tranche of secured notes (collectively, the Notes) issuing to date a total of $5,415,000 aggregate principal amount 12% secured Notes due one year from the date of issue. In addition, share purchase warrants to purchase up to 180,500 common shares (5,415,000 pre-consolidation common shares) for a period of three (3) years from the date of issue at a price of $3.00 per share ($0.10 pre-consolidation) were issued in connection with the Notes. The warrants are subject to a statutory four-month hold period. The proceeds from the Notes are being used for general working capital purposes.

In addition, Keek's Board of Directors and senior management reported they have granted stock options to purchase 425,000 common shares to certain directors and officers and an additional 291,250 stock options to certain employees and consultants pursuant to Keek's stock option plan. The options granted to directors vest immediately and the options granted to officers, employees, and consultants vest over a 15 month period from the date of grant and are eligible for exercise as to 16.67% immediately and 16.67% every three months thereafter. The options are exercisable at a price of $1.00 per share and expire January 27, 2020.

The company also reported that Keek's senior management team is actively introducing Keek to the advertising, entertainment, and tech communities. To see an example of one of the many industry events Keek management has participated in, follow the link below to view a thought leadership panel held during Advertising Week in New York City titled "Living in a Short-Form World" and led by Keek CEO Alexandra Cameron.

http://www.advertisingweek.com/replay/#video-data=220

About Keek

Keek is a leading mobile video social network with more than 73 million members worldwide. Keek is easy to use, fast and personal. With Keek, members around the world create and interact with videos up to 36 seconds in length and 111 characters of accompanying text, in either public or private views. Keek makes it simple for anyone to instantly create, distribute, discover and react to content in real-time across mobile devices and the web. The Keek app is available in over 190 countries across 6 global regions, and in 36 languages.

Additional investor information can be found at www.sedar.com or by contacting investors@keek.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

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