Liquid Media (YVR) Announces 2.66M Share Registered Direct Offering at $1.50/Sh

Liquid Media Group Ltd. (NASDAQ: YVR) today announced that it has entered into definitive agreements with several institutional and accredited investors for the issuance and sale of an aggregate of 2,666,668 of its common shares, at a purchase price of USD$1.50 per share, in a registered direct offering. Liquid Media has also agreed to issue to the investors unregistered warrants to purchase up to an aggregate of 1,333,334 of common shares. The closing of the offering is expected to occur on or about June 8, 2020, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The warrants have an exercise price equal to USD$1.88 per share, are exercisable immediately and will expire five years from the issuance date.

The gross proceeds from the offering are expected to be approximately USD$4.0 million. The Company intends to use the net proceeds from the offering for working capital purposes, expanding existing businesses or acquiring or investing in businesses, debt reduction or debt refinancing, capital expenditures and other general corporate purposes.

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