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TORONTO and LOS ANGELES, Jan. 15, 2020 (GLOBE NEWSWIRE) -- QYOU Media Inc. (TSXV: QYOU; OTCQB: QYOUF) (“QYOU Media” or the “Company”) announced today that, in recognition of the fact that the directors of the Company have not received cash remuneration for their services as directors since the Company’s shares began trading on the TSX Venture Exchange following its reverse take-over transaction on March 31, 2017, the Company intends to issue an aggregate of 4,315,832 common shares of the Company to its non-management directors, as compensation for such services. Such compensation shares will be issued at a deemed issuance price of $0.10 per share. Pursuant to agreements between the Company and its non-management directors, such shares will be deemed to have been earned in equal tranches at the end of each quarter in calendar 2019. In the aggregate, the market value of such shares at the time when they were earned was $275,134.
Disinterested shareholders of the Company will be asked to approve the issuance of the compensation shares at the Company’s upcoming annual general and special shareholder meeting, which is anticipated to be held in March 2020. The compensation share issuances are also subject to the approval of the TSX Venture Exchange.
About QYOU Media
QYOU Media Inc. is a growing global media company powered by creators and social influencers. We curate, package and market premium content from leading digital video creators for multiscreen & multi platform distribution. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony. QYOU Media’s millennial and Gen Z-focused products include linear television networks, genre-based series, influencer marketing campaigns, mobile apps, and video-on-demand formats. QYOU Media content reaches more than 500 million consumers around the world. Experience our work at www.qyoumedia.com
|Zoe Mumba||Natasha Roberton|
|Platform Communications for QYOU Media||VP Marketing, QYOU Media|
|+44 (0) 207 486||+49 152 2254 7680|
Investor Relations for QYOU Media
+1 403 221 0915
This press release contains certain forward-looking statements within the meaning of applicable securities laws. Words such as “expects”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein may include, but are not limited to, the approval of the TSX Venture Exchange and disinterested shareholders of the Company of the issuances of the compensation shares. These forward-looking statements are based on QYOU Media’s current projections and expectations about future events and other factors management believes are appropriate. Although QYOU Media believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that future events will be consistent with these forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond QYOU Media’s control. Additional risks and uncertainties regarding QYOU Media are described in its publicly-available disclosure documents, filed by QYOU Media on SEDAR (www.sedar.com), except as updated herein. The forward-looking statements contained in this news release represent QYOU Media’s expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. QYOU Media undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
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.