Mr. Brendon Grunewald reports

MOOVLY CLOSES NON-BROKERED PRIVATE PLACEMENT

Moovly Media Inc. has closed a non-brokered private placement, previously announced on Jan. 12, 2024, raising aggregate gross proceeds of $750,009 through the issuance of 16,666,866 units at a price of 4.5 cents per unit. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of eight cents per share for a period of 24 months from the date of issuance.

The net proceeds from the private placement are expected to be used for general corporate purposes.

In connection with the private placement, the company has issued an aggregate of 305,580 finders' warrants to eligible parties. Each finder's warrant entitles the holder to purchase one common share at a price of eight cents for a period of 24 months from the date of issuance.

All of the securities issued under the private placement will be subject to a four-month resale restriction and may not be traded until May 26, 2024. The completion of the private placement remains subject to final approval of the TSX Venture Exchange.

About Moovly Media Inc.

Moovly is the leading provider of artificial-intelligence-powered creative tools to create compelling marketing, communications and training videos and video presentations. Moovly's advanced Studio Editor with millions of assets seamlessly integrated (through a partnership with Getty Images) is all you need to create engaging video content to promote, communicate or explain your product, service or message. Moovly's API (application programming interface) and Automator technologies allow third parties to automate parts or all of the content creation process, including mass video customization, personalized videos (video version of mail merge), automatic content creation or updating by connecting data sources. With clients including users from over 300 of the Fortune 500, small businesses, freelancers and Ivy League universities, Moovly is an intuitive, cost-effective choice for DIY (do-it-yourself) creation of engaging video-based content.

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