QYOU Media Inc. Announces Increase to Bought Deal Financing

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

TORONTO and DUBLIN, Ireland and LOS ANGELES, Feb. 03, 2021 (GLOBE NEWSWIRE) -- QYOU Media Inc. (TSXV:QYOU) (the “Company”) is pleased to announce today that, due to strong demand, it has agreed with Clarus Securities Inc. (“Clarus” or the “Lead Underwriter”) on behalf of a syndicate of underwriters including Canaccord Genuity Corp. and Gravitas Securities Inc. (collectively, the “Underwriters”), to increase the size of its previously announced C$5,000,016 “bought deal” offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a “bought deal” basis 35,714,400 units of the Company (the “Units”) of the Company at a price of C$0.28 per Unit (the “Offering Price”) for aggregate gross proceeds to the Company of C$10,000,032 (the “Offering”). Each Unit will be comprised of one common share of the Company (a “Unit Share”) and one half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a “Warrant Share”) at a price of C$0.45 for a period of 24 months following the Closing Date (as defined below).

The Company has also agreed to grant the Underwriters an over-allotment option to purchase an additional 5,357,160 Units at the Offering Price, exercisable in whole or in part, for a period ending 30 days from and including the Closing Date. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be approximately C$11,500,036.80.

The Units will be offered in each of the provinces of British Columbia, Alberta and Ontario by short form prospectus. The Units may also be sold to United States purchasers on a private placement basis pursuant to an exemption from the registration requirements in Rule 144A of the United States Securities Act, and in those jurisdictions outside of Canada and the United States which are agreed to by the Company and Clarus, where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.