MediaValet Announces $1.0 million Secured Debenture
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Vancouver, BC – November 8, 2017 ‐ MediaValet Inc. (TSX‐V:MVP) (the “Company”), a leading provider of cloud‐based digital asset management software, is pleased to announce that it intends to issue a $1.0 million secured debenture (the “Debenture”) to a large institutional investor. The Debenture will bear interest at 10% per annum, payable monthly, in arrears on the first day of each month, commencing December 1, 2017. The Debenture will mature three years after issuance. The Debenture will be secured by a charge over all of the property and assets of the Company, and will rank equally with the Company’s current outstanding secured indebtedness. The closing of the issuance of the Debenture is expected to occur before mid‐November 2017 and is subject to the approval of the TSX Venture Exchange.
The net proceeds of the Debenture are expected to be used by the Company for general working capital purposes.
About MediaValet, Inc.
MediaValet stands at the forefront of the cloud‐based digital asset management industry. Built exclusively on Microsoft Azure and available on 44 highly secure, reliable and hyper scalable Microsoft data centers around the world, MediaValet is uniquely equipped to meet the digital asset management needs of any organization, no matter its size, its industry or its location. Cutting‐edge technology, exceptional product design, and unlimited friendly customer service are at the core of MediaValet’s DNA – ensuring exceptional customer and user experiences are delivered at all times.
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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.