Business
QYOU Media Inc. Announces Update on $1.575 Million Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - January 22, 2024) - QYOU Media Inc. (TSXV: QYOU) ("QYOU" or t...
About this update from Qyou Media, Inc.
[{"type":"text","content":"QYOU Media Inc. Announces Update on $1.575 Million Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - January 22, 2024) - QYOU Media Inc. (TSXV: QYOU) (\"QYOU\" or the \"Company\") announces that is has filed an amended and restated offering document (the \"Offering Document\") related to the Company's non-brokered private placement of up to 22,500,000 units of the Company (\"Units\") at a price of $0.07 per Unit (the \"Offering\"), for aggregate gross proceeds of up to approximately $1,575,000, as previously announced on January 16, 2024. Each Unit will be composed of one (1) common share in the capital of the Company (a \"Share\") and one (1) common share purchase warrant of the Company (a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one (1) additional Share (a \"Warrant Share\") at a price of $0.10 per Warrant Share for a period of twenty-four (24) months from the closing date of the Offering, subject to an accelerated expiry date at the option of the Company in the event that the ten (10) day volume weighted average trading price of the Shares on the TSX Venture Exchange (\"TSXV\") for any ten (10) consecutive trading days is $0.25 or more.The Offering is being completed pursuant to the listed issuer financing exemption (LIFE) under Part 5A of National Instrument 45-106 Prospectus Exemptions and therefore the securities issued in the Offering will not be subject to a hold period in accordance with applicable Canadian securities laws. The Offering Document related to the Offering that can be accessed under the Company's profile at www.sedarplus.com and at www.qyoumedia.com. Prospective investors should read this Offering Document before making an investment decision.The Company intends to use the net proceeds from the Offering to build out its Maxamtech and QGamesMela gaming business, and for general working capital purposes, all as more particularly set forth in the Offering Document.The Company may compensate certain finders with a cash commission of up to 7.5% of the aggregate gross proceeds of the Offering and issue finders warrants equal to up to 7.5% of the total number of Units subscribed for under the Offering. The finders warrants, to the extent they are issued, will entitle the holder to acquire one (1) Unit, comprised of one (1) Share and one (1) Warrant, at a price of $0.07 ...