MediaValet Inc.
TSX VENTURE : MVP

MediaValet Inc.

March 14, 2016 07:44 ET

MediaValet to Raise $1,500,000 Through Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 14, 2016) -

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

MediaValet Inc. (TSX VENTURE:MVP) (the Company), a leading provider of cloud-based digital asset management software, announced today it intends to raise up to $1.5 million through a brokered private placement led by Haywood Securities Inc. (Haywood).

Under the terms of an engagement letter with Haywood dated March 14, 2016, Haywood has agreed to act as MediaValet's exclusive agent for a best efforts private placement (the "Offering") of up to 9,375,000 units (each, a "Unit") at a price of $0.16 per Unit (the "Offering Price"), for aggregate gross proceeds of up to $1,500,000. Each Unit will be comprised 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 will be exercisable to acquire an additional Common Share (each, a "Warrant Share") at an exercise price of $0.24 per Warrant Share for a period of 12 months following the closing of the Offering. MediaValet has granted Haywood an option to sell up to an additional 3,125,000 Units at the Issue Price within 30 days of the closing of the Offering.

In connection with the Offering, MediaValet will pay to Haywood a cash commission of 6% of the proceeds raised and will issue to Haywood an option, exercisable for a period of 12 months following the closing of the Offering, entitling Haywood to purchase Units equal to up to 6% of the number of Units sold in the Offering.

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

The Offering is expected to close on or about March 30, 2016 and is subject to the approval of the TSX Venture Exchange.

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 emerging cloud-based digital asset management industry. Dedicated to delivering the most secure, accessible and user-friendly digital asset management system, built exclusively on Microsoft Azure, and leveraging a strong global relationship with Microsoft, 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 at all times.

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Forward-Looking and other Cautionary Statements

This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. In this news release, statements regarding the intention to complete a private placement, the proposed size, terms and estimated closing date of the private placement, and the intended use of proceeds of the private placement, represent forward looking statements. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others, risks related to following: the Company's financial position and the potential need for future financings, the ability to identify sufficient investors for the private placement, that the placement will be completed by the anticipated closing date, unexpected changes in the market for securities in general and for in particular for the Company's securities.

The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. There can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

"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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