SAN FRANCISCO, Dec. 14, 2016 — Frankly Inc. (TSX VENTURE: TLK) (Frankly), a leading technology and monetization platform for media companies, is pleased to announce it submitted a Price Reservation Form (Form 4A) with the TSXV on November 14, 2016. The non‐brokered private placement offering (the “Offering”) is for up to 6,600,000 units (each, a “Unit”) at a price of Can$0.45 per Unit (“Unit Price”). Each Unit shall be comprised of one common share in the capital of the Company (each, a “Common Share”) and one-half warrant to acquire a Common Share (each, a “Warrant”) at an exercise price of $0.56 per Common Share for a period of two years from the date of issuance. The Offering is expected to close on or before December 20, 2016. The Unit Price is based on the discounted closing price of the Common Shares on the TSX Venture Exchange (the “TSXV”) as reflected in the Company’s filing of a Price Reservation Form (Form 4A) with the TSXV on November 14, 2016. In connection with a portion of the Offering, the Company anticipates paying commissions in the form of a 6% cash payment and 6% warrant coverage, such warrants to be exercisable at a price of $0.56 for a period of two years following issuance. Should the Company choose to use this Price Reservation for a non-brokered financing, the use of proceeds from the Offering will be used for general working capital and product development. All of the securities issued pursuant to the Offering will be subject to a statutory 4-month plus one day hold period from the date of issuance. The Offering remains subject to TSXV approval and applicable regulatory authorities.
Frankly (TSX VENTURE: TLK) builds an integrated software platform for media companies to create, distribute, analyze and monetize their content across all of their digital properties on web, mobile and TV. Its customers include NBC, ABC, CBS and FOX affiliates, as well as other leading media organizations. Collectively, Frankly reaches nearly 60 million monthly users in the United States. The company is headquartered in San Francisco with major offices in New York. To learn more, visit www.franklyinc.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This release includes forward-looking statements regarding Frankly and their respective businesses. Forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the parties, including definitive agreements with respect to the proposed Offering not being reached, or lack of regulatory approval for the Offering. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Frankly undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.