Moovly Media Inc. (MVVYF)

[H8ster]

Moovly Media arranges $3.8-million private placement

$3.8-million private placement

MOOVLY ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Moovly Media Inc. has arranged a non-brokered private placement of units at a price of 45 cents per unit for aggregate gross proceeds of up to $3.8-million. Each unit will comprise one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 62 cents per share for a period of 24 months from the date of issuance.

The net proceeds from this offering are expected to be used to finance sales and marketing growth, enhance and reinforce engineering and development efforts, and for general corporate purposes. Finders' fees up to 7 per cent cash and 7 per cent finder warrants may be issuable under the offering in accordance with securities regulations. Each finder warrant will entitle the holder to purchase one common share at a price of 62 cents per share for a period of 24 months from the date of issuance.

All of the securities issued under the offering will be subject to a four-month resale restriction. The completion of the proposed offering remains subject to the approval of the TSX Venture Exchange and the satisfaction of other customary closing conditions.