MiMedia Announces Closing of C$875,000 Non-Brokered Private Placement of Units

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NEW YORK, Jan. 15, 2025 /CNW/ - MiMedia Holdings Inc. (TSXV: MIM) (OTCQB: MIMDF) (FSE: KH3) ("MiMedia" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement (the "Offering") of 3,500,000 units of the Company (the "Units") at an issue price of C$0.25 per Unit, for aggregate gross proceeds of C$875,000.  Each Unit is comprised of one subordinate voting share in the capital of the Company (a "Subordinate Voting Share") and one Subordinate Voting Share purchase warrant (a "Warrant").  Each Warrant entitles the holder thereof to purchase one Subordinate Voting Share at an exercise price of C$0.25 per share for a period of 18 months following the closing date of the Offering. 

The net proceeds of the Offering will be used for general corporate purposes in support of ramped up expansion of current partnerships as well as proposed new agreements.

The Offering remains subject to the final acceptance of the TSX Venture Exchange.  All securities issued pursuant to the Offering will be subject to a statutory four month hold period from their date of issuance.  No finder's fees were paid by the Company in connection with the Offering.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.  This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

About MiMedia

MiMedia Holdings Inc. provides a next-generation consumer cloud platform that enables all types of personal media to be secured in the cloud, accessed seamlessly at any time, across all devices and on all operating systems. The company's platform differentiates with its rich media experience, robust organization tools, private sharing capabilities and features that drive content re-engagement.  MiMedia partners with smartphone makers and telecom carriers globally and provides its partners with recurring revenue streams, improved customer retention and market differentiation.  The platform services millions of engaged users around the world.

Notice regarding forward-looking statements:

Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws.  Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur.  Forward-looking statements in this press release include statements regarding: the use of proceeds of the Offering, the receipt of regulatory approvals and plans for current and new Company partners.  Such forward-looking statements are based on the current expectations of management of MiMedia.  Actual events and conditions could differ materially from those expressed or implied in this press release as a result of known and unknown risk factors and uncertainties affecting MiMedia, including risks regarding the industry in which MiMedia operates, economic factors, the equity markets generally and risks associated with growth and competition.  Additional risk factors are also set forth in the Company's management's discussion and analysis and other filings available via the System for Electronic Document Analysis and Retrieval+ (SEDAR+) under the MiMedia's profile at www.sedarplus.ca.  Although MiMedia has attempted to identify certain factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.  No forward-looking statement can be taken as guaranteed.  The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.  Because of the risks, uncertainties and assumptions contained herein, readers should not place any undue reliance on forward looking information.

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.

SOURCE MiMedia

For further information: MiMedia Investor Relations, [email protected].