Mr. Brendon Grunewald reports

MOOVLY MEDIA PROVIDES UPDATE ON PRIVATE PLACEMENT AND GRANTS STOCK OPTIONS

Further to the company's press release of Jan. 4, 2017, Moovly Media Inc. anticipates completing its brokered private placement of units on or about March 17, 2017. The units will be issued at a price of 15 cents per unit for gross proceeds of up to $2.1-million. Each unit will comprise one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase a common share at a price of 25 cents per share for a period of one year from the date of issuance.

Leede Jones Gable Inc. has been engaged as the exclusive agent of the company to offer the units on a commercially reasonable efforts basis. All of the securities issued under the private placement will be subject to a four-month resale restriction. The completion of the proposed private placement remains subject to the final approval of the TSX Venture Exchange and the satisfaction of other customary closing conditions.

The net proceeds from this offering are expected to be used to finance sales and marketing growth of the company and accelerate commercialization of two key products groups, as well as for general corporate purposes.

In the company's press release of Aug. 4, 2016, it announced that it had granted stock options to acquire up to 6.5 million common shares of the company, of which an aggregate of two million were granted to certain directors and officers of Moovly. The company wishes to clarify that in fact only two million stock options were granted at that time, all of which were granted to certain directors and officers of Moovly. The company is now granting an additional 2,925,000 stock options to consultants and employees of Moovly. Each of the stock options is exercisable for a five-year term expiring on March 10, 2022, and exercisable until that time at a price of 24 cents per common share. On March 10, 2017, the last day that the company's common shares traded prior to the granting of the stock options, the closing price of the common shares on the TSX Venture Exchange was 19 cents per share. The stock options vest over a period of four years. The stock options and any common shares issued upon exercise of the stock options are subject to a four-month resale restriction expiring on July 11, 2017.

About Moovly Media Inc.

Moovly is a cloud-based multimedia platform that enables people to create engaging multimedia content by making it affordable, intuitive and simple.

Moovly is used in education, businesses of any size, and government, non-government and non-profit organizations.

We seek Safe Harbor.