NewswireKEEK Social Inc. (TSXV:KEEK)August 10, 2026 at 7:52 AM EDT

Keek Social raises $5 million CAD via private placement for SaaS transition

Source:Newsfile

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

Newsfile Corp.

August 10, 2026 - 4:52 AM PDT