04:58:34 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



MediaValet Inc (2)
Symbol MVP
Shares Issued 39,459,387
Close 2022-09-13 C$ 1.26
Market Cap C$ 49,718,828
Recent Sedar Documents

MediaValet receives $2.05M via 2.28M exercised warrants

2022-09-13 12:24 ET - News Release

Mr. David MacLaren reports

MEDIAVALET ANNOUNCES WARRANT EXERCISE

Holders of all outstanding warrants to acquire common shares of MediaValet Inc. have exercised such warrants, resulting in aggregate proceeds of $2,058,446.70. In its third quarter of fiscal 2022, 1,315,735 warrants were exercised for proceeds of $1.18-million, 591,380 warrants for proceeds of $530,000 in its second quarter and 380,047 warrants for proceeds of $340,000 in its first quarter.

The warrants were originally issued in conjunction with a Sept. 12, 2019, financing with an expiry on Sept. 12, 2022. None of the warrants expired and there are no warrants remaining outstanding. The total number of shares outstanding after the exercise were 40,775,122 shares.

In connection with the exercise of the warrants, officers and directors of the company acquired common shares as shown in the attached table.

"We would like to thank our investors for their continued support," commented Dave Miller, chief financial officer of MediaValet. "As communicated previously, we calibrated our operational cost plan to achieve a balance between our DAM [digital asset management] market opportunity and our available growth capital resources. Proceeds from our outstanding warrants were a key component of this growth capital. In addition, we reported record net new annual recurring revenue (NNARR) in our first half of 2022, with NNARR up 146 per cent from the first half of 2021. Combined, these events have put us ahead of our balanced operational growth plan."

About MediaValet Inc.

MediaValet stands at the forefront of the cloud-native, software-as-a-service, enterprise digital asset management, video content management and creative operations industries. Built exclusively on Microsoft Azure and available across 61 Microsoft data centre regions in 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, cloud-native DAM capabilities at a global scale, desktop-to-server-to-cloud 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, Wrike, Drupal, WordPress and many other best-in-class third party applications.

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