MediaValet Inc.
TSX VENTURE : MVP

MediaValet Inc.

December 20, 2017 17:26 ET

MediaValet Announces $7.5 Million Financing co-led by Canaccord Genuity and Gravitas Securities

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 20, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

MediaValet Inc. (TSX VENTURE:MVP), a leading provider of cloud-based digital asset management software, announced today that it intends to raise up to $7.5 million through two equity placements: a $5.0 million brokered private placement, led by Canaccord Genuity and Gravitas Securities; and, a $2.5 million non-brokered private placement.

Under the terms of an engagement letter with the Agents, dated December 20th, 2017, Canaccord and Gravitas have agreed to act on a commercially reasonable efforts basis as MediaValet's exclusive agents for a private placement (the "Brokered Placement") of up to 83,333,333 shares at a price of $0.06 per share, for aggregate gross proceeds of up to $5.0 million. MediaValet has granted the Agents an option to sell up to an additional 16,666,667 Units at the Issue Price within 30 days of the closing of the offering.

In connection with the Brokered Placement, MediaValet will pay to the Agents a cash commission of 8% of the proceeds raised and will issue to the Agents an option, exercisable for a period of 24 months following the closing of the Brokered Placement, entitling the Agents to purchase shares equal to up to 8% of the number of shares sold in the Brokered Placement at $0.06 for the first 12 months and at $0.09 for the remaining 12 months.

Concurrently, MediaValet intends to issue up to 41,666,667 shares through a non-brokered private placement (the "Non-Brokered Placement), at a price of $0.06 per share for aggregate gross proceeds of up to $2.5 million.

Proceeds from the placements will be used to fund sales and marketing, product innovation, and general operations; and pay down long term debt.

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 cloud-based digital asset management industry. Built exclusively on Microsoft Azure and available on 44 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 friendly customer service 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."

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