MiMedia Announces Closing of Non-Brokered Private Placement of $6,000,000

Core Viewpoint - MiMedia Holdings Inc. has successfully closed a non-brokered private placement, raising a total of $6,000,000 through the issuance of 24,000,000 subordinate voting shares at a price of $0.25 per share [1][2]. Group 1: Financial Details - The Offering generated aggregate gross proceeds of $6,000,000 from the sale of 24,000,000 subordinate voting shares at $0.25 each [1]. - The net proceeds from the Offering are intended to support growth initiatives, operations, and general working capital [2]. Group 2: Regulatory and Compliance Information - The Offering is subject to final approval from the TSXV, and all securities issued will be under a statutory hold period of four months and one day from the issuance date [2]. - The securities involved in the Offering are not registered under the U.S. Securities Act and cannot be offered or sold in the United States unless registered or exempt [3]. Group 3: Company Overview - MiMedia Holdings Inc. operates a next-generation consumer cloud platform that secures personal media in the cloud, accessible across devices and operating systems [4]. - The platform offers a rich media experience, organization tools, private sharing capabilities, and features that enhance content re-engagement, serving millions of users globally [4].