Jerrick Media Holdings, Inc. Closes on $4.3 Million Private Placement

NEW YORK, Nov. 9, 2017 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), a digital technology company, today reported that it closed its offering of two-year, 15% Secured Convertible Promissory Notes (the "Notes"), generating interest in-excess-of $4.3 million, of which $2.1 million was in the form of gross cash proceeds and $2.2 million from the exchange of existing short-term debt (plus accrued interest). Members of Jerrick's Board of Directors and other insiders also participated in the private placement. The Notes are convertible into shares of the Company's common stock at a price of $0.20 per share. Holders of the Notes received 5-year warrants to purchase shares of the Company's common stock equal to the number of shares into which the Notes may be converted. The warrants have an exercise price of $0.20 per share.

"Jerrick is currently tracking above my expectations in key metrics such as content creators, submitted content, and page views," said Jerrick's CEO and founder, Jeremy Frommer. "We have a target of reaching 10 million page views per month - with the majority being organic in nature - within the first quarter of 2018."

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For news and more information please visit: https://jerrick.media/. For daily updates, please visit: https://twitter.com/JeremyFrommer and https://www.linkedin.com/in/jeremyfrommer/

About Jerrick

Jerrick is a technology company focused on the development of digital communities, targeted marketing of branded digital content, and e-commerce opportunities. Core to Jerrick's unique capabilities is Vocal, a proprietary long-form social publishing platform.

Forward-Looking Statements

Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements made by us. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.

Company Contact:
Jerrick Media Holdings, Inc.
201-258-3770
info@jerrick.media

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SOURCE Jerrick Media Holdings, Inc.