MediaValet Closes Previously Announced Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 20, 2016) -

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MediaValet Inc. (TSX VENTURE:MVP) (the Company), a leading provider of cloud-based digital asset management software, is pleased to announce that further to its news release dated March 14, 2016, it has now closed its brokered private placement (the "Brokered Private Placement") led by Haywood Securities Inc. ("Haywood") which consisted of the sale of 9,464,794 units (the "Units) at a price of $0.16 per Unit for gross proceeds of $1,514,367. Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.24 for a period of 12 months following the closing of the Brokered Private Placement. Haywood has the option, exercisable for a period of 30 days following closing, to sell an additional 3,125,000 Units.

The net proceeds of the Brokered Private Placement will be used to support the Company's global sales and marketing efforts, accelerate product development, and for general working capital purposes.

In connection with the closing of the Brokered Private Placement and in accordance with the terms of an agency agreement (the "Agency Agreement") entered into between the Company and Haywood, the Company paid cash commissions of $60,000, and issued options, exercisable for a period of 12 months following the closing of the Brokered Private Placement, to purchase up to 379,897 Units at $0.16 per Unit.

In accordance with applicable securities legislation, all Units issued in connection with the Brokered Private Placement are subject to a four-month hold period expiring August 21, 2016.

About MediaValet, Inc.

MediaValet stands at the forefront of the emerging cloud-based digital asset management industry. Built exclusively on Microsoft Azure and available on 26 highly secure and hyper-scalable Microsoft 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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