March 8, 2023
Moovly Amends Warrant Terms to Extend Expiry Date
VANCOUVER, CANADA – March 8, 2023 – Moovly Media Inc. (TSXV: MVY) (OTC: MVVYF) (FRANKFURT: 0PV2) (“Moovly” or the “Company”) announces that it will be amending the terms of 8,444,445 common share purchase warrants (each, a “Warrant”) previously issued pursuant to a non-brokered private placement that closed on March 24, 2021. The Warrants were originally exercisable by the holder at a price of $0.62 per common share in the capital of the Company (each, a “Share”) for a period of two years from the date of issuance. The expiry date of these Warrants will be extended by 12 months, subject to TSX Venture Exchange approval. Following the extension of the term of the Warrants, each Warrant will entitle the holder thereof to acquire one Share at an issue price of $0.62 per Share on or before March 24, 2024.
Moovly is the leading provider of creative cloud-based tools to create compelling marketing, communications and training videos and video presentations. Moovly’s advanced Studio Editor with over 100 million stock digital assets seamlessly integrated is all you need to create engaging video content to promote, communicate or explain your product, service or message. Moovly’s API and Automator technologies allow third parties to automate parts or all of the content creation process, including mass video customization, personalized videos (video version of mail merge), automatic content creation or updating by connecting data sources. With clients including users from over 300 of the Fortune 500, small businesses, freelancers and Ivy league universities, Moovly is an intuitive, cost-effective choice for DIY creation of engaging video-based content.
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This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information with respect to Moovly’s future business plans and the expected benefits of its products. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.
By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, Moovly’s inability to continue to commercialize its products or demand for its products decreases or disappears. Other risk factors are set forth in detail in the Company’s Management Discussion and Analysis dated June 30, 2020 which is available for review under the Company’s corporate profile at www.sedar.com. Some other risks and factors that could cause the results to differ materially from those expressed in the forward-looking information also include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, unanticipated operating events; failure to obtain any necessary third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital and skilled personnel; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
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.