Keek Social Inc. Announces $5 Million CAD Private Placement to Accelerate SaaS Model Transition

Rhea-AI Summary

Keek Social (TSXV: KEEK, OTC: PRSNF) announced a non-brokered private placement of units for up to $5,000,000 CAD in gross proceeds, priced at $3.00 CAD per unit. The offering may close in one or more tranches, subject to regulatory approvals, including TSX Venture Exchange approval.

According to Keek, successful completion is required to fund ongoing operations and support sales and marketing as it executes a strategic shift to a Software-as-a-Service (SaaS) model. Net proceeds will back a flat-fee subscription platform with no commissions on creator earnings and an agency-led creator acquisition strategy.

Positive

• Up to $5,000,000 CAD financing via non-brokered private placement at $3.00 CAD per unit
• Proceeds earmarked to fund SaaS model transition and sales and marketing initiatives
• Planned flat-rate subscription model with zero platform fees on creator earnings and tips

Negative

• Company states it requires successful completion of the financing to continue funding ongoing operations
• There is no assurance the private placement will be completed on the announced terms, or at all

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Toronto, Ontario--(Newsfile Corp. - August 10, 2026) - Keek Social Inc. (TSXV: KEEK) (OTC Pink: PRSNF) ("Keek" or the "Company"), a Toronto-based social media and live streaming platform, today announced a non-brokered private placement offering of units of the Company for aggregate gross proceeds of up to $5,000,000 CAD.

Offering Details

The offering will consist of units of the Company at a price of 3.00 CAD 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 fund ongoing 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 fund sales and marketing efforts as the Company executes its strategic shift to a Software-as-a-Service (SaaS) business model.

Strategic Rationale: Solving the Creator Fee Problem

The Company's transition to a SaaS 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 online creator agencies to bring hundreds of thousands of creators onboard efficiently and at scale. These agency partnerships are expected to accelerate user adoption and drive platform growth.

About Keek Social Inc.

Keek Social Inc. (TSXV: KEEK) 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".

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws, including, without limitation, statements regarding: the completion of the private placement offering; the anticipated use of proceeds; the Company's strategic shift to a SaaS model; the Company's ability to continue as a going concern; the number of content creators globally; the Company's ability to attract creators through agency partnerships; the anticipated benefits of the SaaS model; and the Company's future plans and objectives.

Forward-looking information is often identified by the use of words such as "will," "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," "forecast," or similar expressions, and includes information regarding the Company's future growth and business strategy. These statements are based on certain factors and assumptions, including, but not limited to, the Company's ability to obtain regulatory approvals, market conditions, and the successful execution of its business plan. While the Company considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those projected, including, but not limited to: the risk that the offering may not close on the terms announced or at all; the risk that the Company may not obtain necessary regulatory approvals; the risk that the Company may not successfully transition to a SaaS model; the risk that the Company may not attract creators or agency partners as anticipated; competition in the social media and creator economy sectors; and general economic, business, and market conditions.

The Company will require the successful completion of this financing to be able to continue to fund ongoing operations and to execute on its sales and marketing plan. If the financing is not completed, the Company may be required to curtail or cease operations, seek alternative financing, or pursue strategic alternatives, and there can be no assurance that any such alternatives would be available on acceptable terms, or at all.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

For further information, please contact:

Keek Social Inc. (TSXV: KEEK)
Mark Itwaru
Chairman & Chief Executive Officer
Phone: 647.789.0074
Email: mark@keek.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308848

FAQ

What is Keek Social (PRSNF) announcing in its August 10, 2026 private placement?

Keek Social announced a non-brokered private placement of units for up to $5,000,000 CAD in gross proceeds. According to Keek, the financing will support ongoing operations, sales and marketing, and its strategic transition to a Software-as-a-Service (SaaS) business model.

What are the key terms of Keek Social’s (PRSNF) $5 million CAD private placement?

The offering consists of units priced at $3.00 CAD per unit, with an issuance period stated as two years. According to Keek, the placement is non-brokered and expected to close in one or more tranches, subject to regulatory approvals, including TSX Venture Exchange approval.

How will Keek Social (PRSNF) use the proceeds from the August 2026 private placement?

Net proceeds are earmarked to fund sales and marketing and support Keek’s shift to a SaaS business model. According to Keek, the company also requires successful completion of the financing to continue funding its ongoing operations and execute its strategic sales plan.

Why is Keek Social (PRSNF) shifting to a SaaS model for creators?

Keek is shifting to a SaaS model to address high creator platform fees with flat-rate subscriptions and zero platform fees on earnings. According to Keek, this structure aims to let creators retain more income and better align the company’s success with creator success.

What risks does Keek Social (PRSNF) highlight if the private placement is not completed?

Keek states there can be no assurance the offering will be completed on the announced terms, or at all. According to Keek, successful completion is required to continue funding ongoing operations and to execute its sales and marketing plan linked to the SaaS transition.

How does Keek Social (PRSNF) plan to acquire creators under its new SaaS strategy?

Keek plans to work with online creator agencies to onboard hundreds of thousands of creators efficiently and at scale. According to Keek, these agency partnerships are expected to accelerate user adoption, supporting platform growth as it rolls out its subscription-based SaaS offering.