SOURCE: Keek Inc.

Keek Inc.

July 02, 2015 08:30 ET

Keek to Launch Skill-Based Social Trivia Contest

TORONTO, ON--(Marketwired - July 02, 2015) - Keek (TSX VENTURE: KEK) (OTCQX: KEEKF), a leading mobile video social network featuring a unique 36-second video format, today announced its plans to develop and launch Keek Social Trivia ("KST"), an innovative platform that is intended to monetize Keek's existing user base.

KST is designed to be a global, skill-based, trivia contest played twice a month by Keek registered participants with a minimum guaranteed first prize of one million dollars. The prize dollars will be funded by advertising sponsorship and will increase as more participants and sponsors register. Ten percent of all prize dollars will be set aside for designated international charities that have partnered with KST and the trivia contest winner will also have the option to direct a portion of the charitable proceeds to a charity of their choice. It is anticipated that the first contest will be launched this fall. More details with regard to the contest and how to register will be provided in the coming months.

"KST represents a significant new opportunity for us to activate our vast user base, and deepen Keek's already immersive user experience," said Dimi Paun, Interim CEO of Keek. "This project makes sense on many levels, particularly with the continued growth of online gaming, mobile advertising and social media. Keek Social Trivia is expected to generate significant advertising revenue for Keek while providing an engaging forum for all of our users. The launch of Keek Social Trivia offers Keek a ground breaking approach to ensuring global brands deliver key messages to targeted demographic audiences in a unique measurable manner via our platform."

To help launch KST, Ron Hulse will join Keek as President and COO of the Keek Social Trivia division, which will be dedicated to the implementation and marketing of KST. Mr. Hulse has previously served as a senior executive at Samsung Electronics Canada and Compaq Computer Corporation Canada. Mr. Hulse will bring his considerable experience and expertise in directing the launch of KST. Mr. Hulse will also be appointed to the Keek Board of Directors. His appointment to the Board will be subject to TSXV approval.

"Keek has the immediate capacity to deliver an optimum online and mobile advertising experience that can scale instantly to reach consumers around the globe," said Mr. Hulse. "Keek's video technology platform aligns with Social Trivia's ability to deliver targeted messages to a willing and receptive audience. Keek Social Trivia will provide a unique and engaging experience for all participants while guaranteeing "viewability" for its advertisers. This platform promises to turn traditional advertising and mobile ad delivery upside down, by ensuring that the world's largest advertisers deliver their message directly to an engaged audience."

Keek also announces today, a non -brokered private placement of gross proceeds of $250,000 from the issuance and sale of 1,000,000 units at a price of $ 0.25 per unit. The proceeds of the financing will be used for the implementation of KST and general working capital purposes. Each unit was comprised of one common share and one common share purchase warrant of Keek. Each warrant entitles the holder to purchase one common share of the Company at a price of $ 0.40 per share, until expiry in July, 2018. Mr. Hulse, through his corporation, Hurorosh Partners Inc., was the subscriber under this financing. The private placement is subject to TSXV approval. The common shares and warrants will be subject to a four month hold period.

About Keek:

Keek is a leading mobile video social network with 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.

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.

Forward looking statements: The information and statements in this news release contain certain forward-looking information relating to the timing and completion of a financing and the roll out of the social trivia contest. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. No assurances can be given that any of the events anticipated by the forward-looking information will transpire or occur. Keek's forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, Keek undertakes no obligation to publicly update or revise any forward-looking information.

Contact Information

  • For further information please contact:
    Dimi Paun
    Interim Chief Executive Officer and Chief Technology Officer
    416-639-5335 ext. 230

    Ron Hulse
    President and COO of Keek Social Trivia Division
    416-639-5335 ext. 227