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Jerrick Media Holdings, Inc. Secures over $1 million in 2-year Notes and Launches Two New Community Sites, TheChain.Media and Trader.Media

NEW YORK, Feb. 14, 2018 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), a technology company and the creators of Vocal, today announced that it completed an offering  of two-year, 15% Secured Convertible Promissory Notes (the "New Notes") generating gross proceeds of $750,000 and exchanged existing short-term debt totaling $290,925 (principal plus accrued interest) into the Notes (the "Offering"). The Notes are convertible into shares of the Company's common stock at a price of $0.20 per share and hold a second priority security interest against the Company's assets up to $1,000,000.  Holders of the New Notes received warrants to purchase shares of the Company's common stock equal to the number of shares into which the Notes may be converted at an exercise price of $0.20. Network 1 Financial Securities conducted the Offering.  More details related to the Offering can be found on sec.gov on the Company current report on Form 8-K filed on February 13, 2018.  

Jerrick intends to use the net cash proceeds from the sale of the New Notes for working capital, to strengthen its balance sheet, and for the further development of its Vocal platform.  "Our metrics continue to experience record growth. The technology underlying our platform was built for significant scale. As we did with user accounts, page views and multiple key-performance indicators, we are creating a solid base on which to significantly increase revenues throughout the upcoming year," said CEO and founder Jeremy Frommer.

Vocal Dashboard statistics

Q2 2017 Average

Q3 2017 Average

Q4 2017 Average

January 31, 2018

Communities

14

20

28

30

Page Views per Month

1.4mm

2.1mm

4.1mm

6.1mm

Content Creator Accounts

7,588

26,008

89,208

155,000

Average # of Submissions
/Day

44

183

350

493

Average # of Published Articles /Day

25

91

213

289

In addition, Jerrick's Vocal platform added two new community sites to its portfolio. "Our new community Trader (https://trader.media) is all about the financial markets and will provide professional traders, analysts and Wall Street enthusiasts alike an open environment to vocalize their thoughts and perspective. I look forward to being an avid contributor," said Frommer.

"The past few months have taught us all that it will be some time before blockchain and cryptocurrencies can be institutionally integrated into our daily digital lives. What is important is to provide a forum for blockchain discussion," commented founder Justin Maury, Jerrick's head of product, creative and design. "Our 32nd community, The Chain (https://thechain.media) is all about blockchain and cryptocurrency and will provide a voice for influencers in the space and a well needed opportunity for many of us to become better educated on the topic."

About Jerrick
Jerrick is a technology company focused on the development of digital communities, targeted marketing of branded digital content, and e-commerce opportunities algorithmically derived in relevance for each community.

Core to Jerrick's unique capabilities is Vocal, a long-form, digital publishing platform, capable of hosting all forms of rich media content.

Vocal uses a proprietary algorithm which intelligently bridges long-form rich media content with targeted branding and ecommerce monetization opportunities. Vocal's community sites are managed by a dedicated team, whose primary focus is on revenue conversion of the published material via digital arbitrage.

For news and more information please visit: https://jerrick.media/

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. 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:   

Investor Relations: 

Jeremy Frommer, CEO   

Natasha Sydor

Jerrick Media Holdings, Inc.  

Jerrick Media

201-258-3770     

201-258-3770 

[email protected]    

[email protected]

 

Cision View original content:http://www.prnewswire.com/news-releases/jerrick-media-holdings-inc-secures-over-1-million-in-2-year-notes-and-launches-two-new-community-sites-thechainmedia-and-tradermedia-300598426.html

SOURCE Jerrick Media Holdings, Inc.

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