Mr. Mark Itwaru reports

KEEK SOCIAL INC. ANNOUNCES $5 MILLION CAD PRIVATE PLACEMENT TO ACCELERATE SAAS MODEL TRANSITION

Keek Social Inc. has arranged a non-brokered private placement offering of units of the company for aggregate gross proceeds of up to $5-million.

Offering details

The offering will consist of units of the company at a price of $3 for a period of two years from the date of issuance.

The company expects to close the offering in one or more tranches, subject to customary closing conditions, including receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Use of proceeds

The company will require the successful completion of this financing to be able to continue to finance continuing operations and to execute on its sales and marketing plan. There can be no assurance that the company will be successful in completing the offering on the terms announced or at all.

Net proceeds from the offering will be used to finance sales and marketing efforts as the company executes its strategic shift to a software-as-a-service business model.

Strategic rationale: solving the creator fee problem

The company's transition to a software-as-a-service model directly addresses a critical pain point faced by content creators globally:

• 250 million content creators worldwide;
• 50 million significant creators who pay tens of thousands of dollars annually in platform fees;
• Existing platforms charge inflated, unpopular fees that erode creator earnings.

Keek's solution:

• Three flat-rate monthly subscriptions to the Keek platform;
• Zero platform fees on creator earning and tips;
• Creators keep substantially more of what they earn.

The company believes this model will disrupt the current landscape by aligning Keek's success with creator success, rather than extracting excessive fees from the creator economy.

Creator acquisition strategy

Keek will work with on-line creator agencies to bring hundreds of thousands of creators on board efficiently and at scale. These agency partnerships are expected to accelerate user adoption and drive platform growth.

About Keek Social Inc.

Keek Social is a Toronto-based social media and live streaming platform focused on empowering creators, fostering community engagement, and delivering innovative monetization tools that connect content, commerce and audiences. The company provides social commerce-enabled live streaming products that allow for a monetizable user experience to users, consumers and businesses alike.

Keek trades on the TSX Venture Exchange under the symbol KEEK and on the OTCQB under the symbol PRSNF.

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