MediaValet Announces $6.05M of Proceeds from Accelerated Warrants
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Vancouver, BC – April 28th, 2020 – MediaValet Inc. (TSX-V:MVP) (“MediaValet” or the “Company”), a leading provider of enterprise digital asset management ("DAM") and creative operations software, announces that it has received total proceeds of $6,051,962 from the exercise of 6,802,180 Warrants for which the expiry date was accelerated. On February 25th, 2020, MediaValet elected to accelerate the expiry date for the Warrants to April 27, 2020. Previously, they had an expiry of March 21, 2022 and September 10, 2022.
A total of 331,152 of the Warrants were not exercised by the new expiry date and were cancelled effective April 27, 2020 at 5:00PM PT.
All of the Common Shares issued on exercise of the Warrants are free trading. Since December 31, 2019, including the exercise of other warrants, options and debt conversion rights, a total of 7,905,157 of Common Shares have been issued for proceeds of $7,132,812. The Company's outstanding Common Shares is now 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.