Frankly Engages Waller Capital to Explore Strategic Alternatives
SAN FRANCISCO, Sept. 5, 2017 /PRNewswire/ -- Frankly Inc. (TSX VENTURE: TLK) (Frankly), a leader in transforming local TV broadcasters and media companies by enabling them to publish and monetize their digital content across multiple platforms, has retained the corporate advisory services of Waller Capital Partners, a leading independent investment bank and advisory firm, to explore and evaluate strategic options to further enhance shareholder value. The Company had previously considered a NASDAQ up-listing and concurrent financing, but due to its interruption, the Company is now considering several strategic alternatives which may include raising funds from strategic sources.
"The Frankly Board has engaged Waller Capital to evaluate strategic alternatives in order to maximize value for our shareholders," said company CEO Steve Chung. "While we plan to carefully consider these alternatives, the leadership team and I are focused, first and foremost, on executing on Frankly's operational success with our existing and prospective customers. We remain encouraged by our increasing business prospects as well as our ability to capitalize on new opportunities, which we believe will drive shareholder value, regardless of the outcome of the strategic alternative process."
Frankly does not expect to disclose further developments relating to this strategic review process, unless and until its Board of Directors has approved a specific transaction or otherwise concludes this review of strategic alternatives. There can be no assurance that this process will result in the company pursuing a particular transaction or consummating any such transaction.
Frankly (TSX VENTURE: TLK) builds an integrated software platform for media companies to create, distribute, analyze and monetize their content across all of their digital properties on web, mobile and TV. Its customers include NBC, ABC, CBS and FOX affiliates. Collectively, Frankly reaches nearly 80 million monthly users in the United States. The company is headquartered in San Francisco with major offices in New York. To learn more, visit www.franklyinc.com.
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SOURCE Frankly Inc.
Released September 5, 2017