QYOU Media raises $750,000 through private placement offering

QYOU Media Inc. (TSXV: QYOU) (OTCQB: QYOUF) completed a non-brokered private placement offering, issuing 25 million units at $0.03 per unit for gross proceeds of $750,000.

Each unit consists of one common share and three-quarters of one warrant. Each whole warrant allows the holder to purchase one common share at $0.06 per share until September 12, 2027.

The company will use net proceeds for partial repayment of outstanding loans, partial payment of amounts due from the acquisition of subsidiary Chatterbox Technologies Limited, and working capital and general corporate purposes.

QYOU Media paid $30,551.73 in finder's fees and issued finder's warrants to acquire up to 991,711 additional units to persons who assisted with the offering. Each finder's warrant entitles the holder to acquire one unit at $0.05 per unit until September 12, 2027.

Directors, officers and insiders of the company subscribed for 3.33 million units. The participation of related parties constitutes a related party transaction under Multilateral Instrument 61-101, though it is exempt from formal valuation and minority approval requirements because neither the fair market value of units nor consideration paid by related parties exceeds 25% of the company's market capitalization.

All securities issued in the offering will be subject to a four-month plus one day hold period under Canadian securities laws. The offering remains subject to final approval from the TSX Venture Exchange.

QYOU Media operates in India and the United States, producing and distributing content created by social media influencers and digital content creators through its subsidiaries.

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