QYOU Media to Complete $1.8 Million Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO and LOS ANGELES, June 29, 2020 (GLOBE NEWSWIRE) -- QYOU Media Inc. (TSXV: QYOU; OTCQB: QYOUF) (the “Company”) is pleased to announce today that it expects to issue approximately 60,000,000 units of the Company (the “Units”) at a price of $0.03 per Unit, for gross proceeds of approximately $1,800,000. The Company may elect to close on a higher or lower number of Units.

Each Unit will be comprised of one common share in the capital of the Company and one-half of one common share purchase warrant, with each whole warrant exercisable at $0.05 per share until June 30, 2022.

It is anticipated that the closing of the offering will occur on or about July 10, 2020.

In connection with the offering, the Company may compensate certain persons in consideration for introducing purchasers to the Company by way of a finders’ fee comprised of a cash payment equal to up to 7.0% of the aggregate gross proceeds from the sale of the Units to such purchasers introduced by the respective finder and compensation options to purchase Units equal to up to 7.0% of the aggregate number of Units sold to such purchasers introduced by the respective finder.

Completion of the offering is subject to receipt of TSX Venture Exchange approval. All of the securities issuable in connection with the offering will be subject to a hold period expiring four months and one day after the date of issuance in accordance with Canadian securities laws and are also subject to the Exchange Hold Period (as defined in the policies of the TSX Venture Exchange) and will be legended accordingly.

The net proceeds of the offering will be used for continued investment in the Company’s subsidiary, QYOU India, and working capital for the Company.

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.