Qyou Media (TSXV: QYOU) is strengthening its board of directors. The firm announced this morning that they have nominated Vikas Ranjan to join the company’s board of directors, with voting on the matter to take place in March 2020 at Qyou’s annual shareholder meeting.
Ranjan, who is viewed as a leading capital markets experts within Canada on the Indian marketplace began his career at The National Stock Exchange, the largest Indian stock exchange which is based in Mumbai. Upon being appointed a director of the firm, Ranjan will be accepting the role of Vice Chair of The Board, where he will assist Qyou with the opportunity The Q India presents via its television and OTT network offerings that are current available on over 500 million devices.
Additionally, Ranjan has also committed to being the lead order on a private placement that is expected to issue a total of 6 million units. The order will see Ranjan acquire a million units, with units being priced at $0.06 that consist of a common share and one common share purchase warrant with an exercise price of $0.08 with an expiry of two years.
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.
QYOU Media Chair G. Scott Paterson
Qyou Media last traded at $0.065 on the TSX Venture.
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