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Vancouver, British Columbia--(Newsfile Corp. - February 25, 2020) - MediaValet Inc. (TSXV: MVP) ("MediaValet" or the "Company"), a leading provider of enterprise digital asset management ("DAM") and creative operations software, announces that it is accelerating the vesting of $6.35M of Warrants in connection with capital raises completed on March 21, 2019 and September 10, 2019.
As of February 24, 2020, the Company's Common Shares had closed at greater than $1.50 for ten consecutive trading days. In accordance with the terms of the Warrant certificates, the Company has elected to accelerate the expiry date for the following Warrants to April 27, 2020:
Original Expiry Date
New Expiry Date
# of Warrants and Exercise Price
March 20, 2019
March 20, 2022
April 27, 2020
466,666 at $0.75
September 10, 2019
September 10, 2022
April 27, 2020
6,666,666 at $0.90
Any of the above listed Warrants that are not exercised by the new expiry date will be cancelled, effective April 27, 2020 at 5:00PM PT.
All of the Common Shares issued on exercise of the Warrants will be free trading. If all of the warrants are exercised, the Company will issue 7,133,332 Common Shares and the Company's outstanding Common Shares will be 32,180,945.
About MediaValet Inc.
MediaValet stands at the forefront of the enterprise, cloud-based digital asset management and creative operations industries. Built exclusively on Microsoft Azure and available within 140 countries across 54 Microsoft data center regions around the world, MediaValet delivers unparalleled enterprise-class security, reliability, redundancy and scalability while offering the largest global footprint of any DAM solution. In addition to providing all core enterprise DAM capabilities, local desktop-to-server support for creative teams, and overall cloud redundancy and management for all source, WIP and final assets, MediaValet offers industry-leading integrations into Slack, Adobe Creative Suite, Microsoft Office 365, WorkFront, Wrike, Drupal 8, WordPress, Hootsuite and many other best-in-class 3rd party applications.
For further information, please contact:
Tel: (604) 688-2321
Tel: (416) 644-5081
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52763