Vancouver, BC – October 29th, 2020 – Further to its news release on October 8, 2020, MediaValet Inc. (TSX-V:MVP) (“MediaValet” or the “Company”), is pleased to announce that the Company has closed its previously announced private placement of common shares of the Company (the "Shares") at a price of $2.00 per Share (the "Offering").

The Offering was underwritten by a syndicate of underwriters led by Cormark Securities Inc. and followed by Eight Capital and PI Financial Corp. (collectively, the "Underwriters"). The Underwriters exercised their full underwriters' option, increasing total shares issued under the Offering to 5,750,000 Shares, and generating aggregate gross proceeds of $11,500,000. In connection with the Offering, the Company paid the Underwriters a cash commission of $690,000.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on March 1, 2021.

The net proceeds received from the Offering will be used by the Company for growth initiatives, working capital and general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities that are issued pursuant to the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or under any state securities law and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 across 61 Microsoft data center regions, covering 140 countries around the world, MediaValet delivers unparalleled enterprise-class security, reliability, redundancy, compliance, and scalability; while offering the largest global footprint of any DAM solution. In addition to providing enterprise DAM capabilities at a global scale, desktop-to-server-to-cloud support for creative teams, and overall cloud redundancy, security 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, WordPress and many other best-in-class 3rd party applications.