/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Oct. 8, 2020 /CNW/ - MediaValet Inc. (TSXV:
MVP) ("MediaValet" or the "Company") has entered into an agreement
with a syndicate of underwriters led by Cormark Securities Inc.
(collectively the "Underwriters") pursuant to which the
Underwriters have agreed to purchase on a bought deal private
placement basis, 5.0 million common shares (the "Shares") at a
price of $2.00 per Share (the
"Offering Price"), for gross proceeds to the Company of
approximately $10.0 million (the
"Offering"). The Underwriters have also been granted an
option, exercisable in whole or in part at any time prior to the
closing date of the Offering, to purchase for resale up to an
additional 15.0% of the Shares sold pursuant to the Offering at the
Offering Price, which would result in additional gross proceeds of
approximately $1.5 million.
The Offering is scheduled to close on or about October 29, 2020. The Company intends to use the
net proceeds of the Offering for growth initiatives, working
capital and general corporate purposes. The Offering is
subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval of the
TSX Venture Exchange and any applicable securities regulatory
authorities. The Underwriters have agreed to endeavour to arrange
for substituted purchasers for the Shares.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This press release
does not constitute an offer of securities for sale in the United States. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States absent registration under
U.S. federal and state securities laws or an applicable exemption
from such U.S. registration requirements.
About MediaValet Inc.
MediaValet stands at the forefront of the enterprise,
cloud-based digital asset management and creative operations
industries. Built exclusively on Microsoft Azure and available
across 61 Microsoft data center regions, covering 140 countries
around the world, MediaValet delivers unparalleled enterprise-class
security, reliability, redundancy, compliance, and scalability;
while offering the largest global footprint of any DAM solution. In
addition to providing enterprise DAM capabilities at a global
scale, desktop-to-server-to-cloud support for creative teams, and
overall cloud redundancy and management for all source, WIP and
final assets, MediaValet offers industry-leading integrations into
Slack, Adobe Creative Suite, Microsoft Office 365, WorkFront,
Wrike, Drupal, WordPress and many other best-in-class 3rd party
applications.
FORWARD-LOOKING INFORMATION
This press release contains "forward-looking statements" within
the meaning of applicable securities laws, such as statements
concerning anticipated future events, results, circumstances,
performance or expectations that are not historical facts.
Use of words such as "may", "will", "expect", "believe", "intends",
"likely", or other words of similar effect may indicate a
"forward-looking" statement. These statements are not
guarantees of future performance and are subject to numerous risks
and uncertainties, including those described in the Company's
publicly filed documents (available on SEDAR at
www.sedar.com). Many of these risks and uncertainties can
affect the Company's actual results and could cause actual results
to differ materially from those expressed or implied in any
forward-looking statement made by the Company or on its
behalf. Given these risks and uncertainties, investors should
not place undue reliance on forward-looking statements as a
prediction of actual results. All forward-looking statements
in this press release are qualified by these cautionary
statements. These statements are made as of the date of this
news release and, except as required by applicable law, the Company
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. Additionally, the Company undertakes no
obligation to comment on analyses, expectations or statements made
by third parties in respect of the Company, its financial or
operating results or its securities. The Company does not assume
any obligation to update or revise any forward-looking statements,
whether written or oral, that may be made from time to time by the
Company or on the Company's behalf, except as required by
applicable law.
"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."
SOURCE MediaValet Inc.
