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TORONTO, ON and NEW YORK, NY--(Marketwired - April 20, 2015) - Mobile video social network Keek (TSX VENTURE: KEK) (OTCQX: KEEKF), a leading global mobile video social network with more than 74 million members around the globe featuring a unique 36-second video format, today announced that further to its press release dated April 1, 2014, the closing of the first tranche of its previously announced private placement of up to $15 million dollars has been delayed. Due to the recent market volatility of the Company's stock price, the terms of the offering are being reconsidered. The Company is also in talks with a strategic investor who is considering an investment in Keek representing a control block. Such talks have been ongoing for a few weeks with due diligence still being carried out by the strategic investor. There is no guarantee the Company will come to terms with the strategic investor or whether the strategic investor will enter into a binding financing agreement. |
