Business
QYOU Media Completes $1.8 Million Financing
Toronto, Ontario and Los Angeles, California--(Newsfile Corp. - July 24, 2020) - QYOU Media In...
About this update from Qyou Media, Inc.
[{"type":"text","content":"QYOU Media Completes $1.8 Million FinancingToronto, Ontario and Los Angeles, California--(Newsfile Corp. - July 24, 2020) - QYOU Media Inc. (TSXV: QYOU) (OTCQB: QYOUF) (\"QYOU\" or the \"Company\") announces it completed the final closing of its offering of units of the Company (\"Units\") on July 14, 2020 of 13,779,066 Units at a price of $0.03 per Unit for proceeds of $413,371.98, bringing the total size of the offering to 60,666,399 Units for aggregate gross proceeds of $1,819,991.97. Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant exercisable at $0.05 per common share until June 30, 2022. The offering also includes a subscription by G. Scott Paterson, Chairman of the Company, for 2,500,000 Units, representing a $75,000 investment. The proceeds derived from the sale of the Units will be used for continued investment in the Company's subsidiary, QYOU India, and working capital for the Company.The Company paid an aggregate of approximately $120,050 and issued compensation options to acquire up to 5,549,973 Units exercisable at a price per Unit of $0.05 until June 30, 2022, as finder's fees to certain persons who assisted the Company in connection with the offering. All of the securities issuable in connection with the offering are subject to a hold period expiring four months and one day after the date of issuance in accordance with Canadian securities laws.The securities being offered pursuant to the offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. 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, such securities being offered pursuant to the offering in any jurisdiction in which such offer, solicitation or sale would be unlawful. About QYOUQYOU Media is a growing global media company powered by creators and social influencers. We curate, package and market premium content from leading digital video creators and social stars for multiscreen & multi ...