Ranjan to Add to his Stock Holdings via lead order on 6 Million Share Placement
TORONTO, LOS ANGELES and MUMBAI, India, Jan. 24, 2020 /CNW/ - QYOU Media (TSXV: QYOU; OTCQB: QYOUF) announced today that Veteran Bay Street Executive, Vikas Ranjan has been added as a Nominee to Join the Board of Directors of QYOU Media Inc at the company's shareholders' meeting slated for March 5, 2020. Mr. Ranjan has accepted the role of Vice Chair of the Board, if shareholders vote in favour of his Board nomination.
Mr. Ranjan is also the lead order in a 6 million share placement acquiring 1 million Units at $.06 per Unit in a placement that is scheduled to close January 29, 2020. Each Unit will consist of 1 common share plus 1 warrant exercisable at $.08 until January 29, 2022. Following such investment, Mr. Ranjan will own approximately 3 million common shares and 2 million warrants to acquire further common shares.
Mr. Ranjan began his career at India's largest public exchange, The National Stock Exchange, and is one of Canada's leading experts on capital markets matters related to India. Mr. Ranjan is expected to assist QYOU Media management and the Board in connection with the company's exciting prospects in India via its "Q India" television and OTT channel now available via 500 million devices in the country.
QYOU Media Chair G. Scott Paterson said: "QYOU Media's opportunity in India is extremely exciting. I just visited India late last year and met many of our cable, satellite and streaming distribution partners and it is clear to me that the opportunity to meet the insatiable demand of Young Indians, being 20 to 30 years old, who crave short form video is enormous. Equally, the demand by advertisers to reach this audience is massive and growing. Vikas Ranjan will undoubtedly help us navigate our way over the next several years in India and in respect to investors focused on the Indian opportunity."
The Q India is a channel dedicated to showcasing India's most popular short form digital video from its leading digital creators and social superstars. It currently reaches over 500M households and devices via distribution partnerships with the leading broadcast, OTT and mobile providers in the country. These include TATA Sky, Airtel, Jio, ZEE5 & MX Player. In 2019 The Q India became a fully Hindi language channel and successfully became BARC (Broadcast Audience Research Council) rated as of January 2020. These initiatives have positioned the company to now monetize via ad sales and influencer marketing campaigns targeting the over 400M 20-30-year old Young India population.
A video showcasing the channel can be found here: The Q India Channel Promo 2020
Mr. Ranjan added, "I am excited about the opportunity to represent QYOU Media on its board. India is one of the world's hottest markets for digital content and is home to a vast young population of millennials and Generation Z. Currently no dominant media brand exists today for young Indians and I believe that QYOU Media has a unique opportunity to build just that dominant entertainment media brand. It has already assembled the key pieces, including a strong pan-India content distribution footprint with marquee Indian partners and is now poised to rapidly monetize the same in coming years".
About QYOU Media
QYOU Media is a growing global media company powered by creators and social influencers. We curate, package and market premium content from leading digital video creators for multiscreen & multi-platform distribution. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony. QYOU's millennial and Gen Z-focused products include linear television networks, genre-based series, influencer marketing campaigns, mobile apps, and video-on-demand formats. QYOU Media content reaches more than 500 million consumers around the world. Experience our work at www.qyoumedia.com
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SOURCE QYOU Media Inc.
For further information: Jeff Walker, Investor Relations - for QYOU Media, + 1 403 221 0915, [email protected]