QYOU Media Inc. Completes $25 Million Reverse Take-Over and Brokered Financings of $7.3 MillionMarch 31, 2017
QYOU Media Inc. (formerly Galleria Opportunities Ltd.) has completed its $25 million reverse take-over transaction pursuant to which QYOU Media acquired QYOU Media Holdings Inc. at a deemed purchase price of approximately $25 million through a three-cornered amalgamation. QYOU Media will carry on the business of QYOU Holdings, which delivers linear and on-demand TV channels, playlist-driven mobile apps, custom shows and influencer marketing support to TV operators, mobile carriers and subscription video service providers worldwide.
In connection with the transaction, Dominick Inc. acted as lead agent for each of QYOU Media and QYOU Holdings in two brokered financings for total gross proceeds of over $7.3 million. In connection with the closing of the transaction, the common shares of QYOU Media have been listed on the TSX Venture Exchange under the trading symbol “QYOU”.
Wildeboer Dellelce LLP acted for Dominick in connection with these transactionswith a team that consisted of Perry Dellelce, Jeff Hergott, Michael Rennie, Rebecca Cochrane and Davia Wang (corporate/securities) and John O’Connor (tax).