Financing Supports Recent Maxamtech Mobile
Gaming Acquisition and Direct to Consumer Launch of QPLAY
Q India and QYOU USA Business Units Both On Target For Record
Q4 Revenue Driven By Five India Channels and Record Setting
Pipeline of US Customers
TORONTO and MUMBAI,
India, Nov. 8, 2022 /CNW/ - QYOU Media
Inc. (TSXV: QYOU) (OTCQB: QYOUF) announced today that it
has entered into an agreement with Clarus Securities Inc., to
conduct on a "best efforts" marketed basis an offering of up to
25,600,000 units of the company for aggregate proceeds of up to
$3,200,000. Details of the
transaction can be found HERE.
The capital will help support overall corporate growth including
a variety of major initiatives and milestones established over the
last six months as work continues on a strong finish to Q4 2022,
while positioning the business for further growth for 2023.
These achievements and milestones include:
- Four new channels launched in 2022 to join flagship Hindi
channel The Q (mass entertainment) including Q
Marathi (regional), Q Kahaniyan (animation), Q
Comedistaan (comedy) and QGameX (live gaming). All
channels are based on the winning formula of content coming from
India's leading digital creators
and social media stars.
- The launch of QYOU Studios in the US to support stronger
revenue growth and new partnerships with North American brands and
influencers.
- The creation and acquihire of BlancSpace to form "ChtrSocial ''
focused on helping "brands become creators" as they co-create brand
driven channels and online storytelling on short form
platforms.
- The launch of QData to support and accelerate the accuracy and
effectiveness of future advertising, programming and influencer
campaigns.
- The successful completion of the largest revenue quarter in
company history in Q2 2022 including record revenue by each company
division.
- The launch of the company's first direct to consumer app with
the rollout of QPLAY featuring content from all five Q branded
channels.
- The acquisition of mobile gaming and technology platform
business Maxamtech Digital Ventures.
- Record breaking overall reach to audiences in India which currently surpasses over 125
million viewers weekly.
QYOU Media CEO and Co-Founder Curt
Marvis, commented, "Great teams require a strong offense and
defense. Long term followers of QYOU Media know we have spent
much of 2022 rolling out new revenue generating initiatives while
also exploring uplisting onto a US exchange and the prospect of a
stock consolidation. It has become clear to us that it simply
isn't the right time for these initiatives. We are thrilled
to have our long time strategic investment partners at Clarus step
up to help bolster our growth in a smart and sensible manner that
reflects the state of the markets today. We will be
poised to jump on opportunities as market conditions improve and to
leverage what we have already launched to its highest
potential. While we continue to believe we are significantly
undervalued as a business, we also recognize that we need to take a
conservative and well measured approach that drives growth, but
also allow us to get all business units to cash flow positive
operations in 2023. This capital will help ensure that while
reaching that goal, we can continue to expand on the massive
opportunities we have been establishing over the last two
years."
About QYOU Media
One of the fastest growing creator-media companies, QYOU Media
operates in India and the United States producing, distributing and
monetizing content created by social media influencers and digital
content stars. In India, under our
flagship brand, The Q, we curate, produce and distribute
premium content across television networks, VOD and OTT platforms,
mobile phones, smart TV's and app-based platforms. We now have 5
emerging content destinations engaging over 125 million Indian
households weekly – The Q (mass entertainment), Q
Marathi (regional content), Q Kahaniyan (animated content), Q
Comedistaan (comedy focused) and our latest Q-GameX (live
gaming). Our influencer marketing company, Chtrbox, has
been a pioneer in India's creator
economy, leveraging data to connect brands to the right social
media influencers. In the United
States, we power major film studios, game publishers
and brands to create content and market via creators and
influencers. Founded and created by industry veterans from
Lionsgate, MTV, Disney and Sony, QYOU Media's millennial and Gen
Z-focused content reaches more than one billion consumers around
the world every month. Experience our work at
www.qyoumedia.com, www.theq.tv and www.theqyou.com and
www.chtrbox.com.
Join our shareholder chat group on Telegram:
http://t.me/QYOUMedia
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.
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SOURCE QYOU Media Inc.