Keek Announces Proposed Restructuring of Secured Debt
Keek Inc. (TSX VENTURE: KEK) (OTCQX: KEEKF) a leading global mobile video social network featuring a unique 36 second video format, with over 74 million registered users, today announced that Riavera Corp. (a company controlled by Mark Itwaru and a parent company to Personas.com Corporation) ("Riavera") has entered into an agreement with Pinetree Income Partnership ("Pinetree") to purchase Pinetree's secured notes (the "Pinetree Notes"). Pinetree purchased $3,000,000 principal amount of 12% secured promissory notes of Keek on November 5, 2014 (see press release dated November 6, 2014 ). The Pinetree Notes represent 55% of the principal amount of all secured notes ("Notes") outstanding in Keek . The Pinetree Notes are due November 5, 2015 . Keek understands the agreement between Riavera and Pinetree is scheduled to close on October 23, 2015 . Following the acquisition of the Pinetree Notes, Riavera has agreed to amend the terms of the Pinetree Notes with Keek as follows: (1) extend the...
October 14, 2015
Keek Partners With International Charity
Keek (TSX VENTURE: KEK) (OTCQX: KEEKF) , a leading global mobile video social media network with over 74 million members featuring a unique 36-second video format, today announced the completion of a Memorandum of Understanding ("MOU") with Right To Play International , a global charitable organization, as the first charity partner for the Keek Social Trivia contest called Trivia4Good ( www.trivia4good.com ). The MOU represents a significant milestone in the development of Trivia4Good, a new social game play vertical within Keek's global social network, designed to attract new members to the platform for the chance to win million dollar prizes while supporting global charities. "We are thrilled to begin this relationship with Keek ," said Right To Play Founder, Johann Koss . "Trivia4Good is an innovative new way for us to expand our reach and engage a new social audience, while creating new revenue opportunities that will help us expand our impact and our programming, which is...
September 14, 2015
Keek Announces Completion of Private Placement
Keek Inc. (TSX VENTURE: KEK) (OTCQX: KEEKF) , a leading global mobile video social network featuring a unique 36 second video format with over 74 million registered users, announced the closing today of the final tranche of its non-brokered private placement announced on August 14, 2015 . Keek issued 1,666,000 units, at a price of $0.20 per unit to raise additional proceeds of $333,200 , for total gross proceeds from the private placement of $1,150,000 from the issuance and sale of an aggregate of 5,750,000 units. Each unit is comprised of one common share and one common share purchase warrant of Keek . Each warrant entitles the holder to purchase one common share of the company, at a price of $ 0.25 per share for a period of three years. The warrants issued pursuant to the second and final tranche expire on September 3, 2018 . The common shares issued pursuant to the private placement bear a 4 month hold period. The private placement proceeds will be used by Keek for implementation...
September 3, 2015