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Mene Inc. Announces Closing of Funding Round

December 21, 2018

TORONTO--(BUSINESS WIRE)--Dec 21, 2018--NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Menē Inc. (TSX-V:MENE) (OTC: MENEF) (“Menē” or the “Company”), an online 24-karat jewelry brand, is pleased to announce that it has completed its previously announced financing with Canaccord Genuity Corp. (“Canaccord Genuity”), whereby Canaccord Genuity has purchased, on a “bought deal” basis, an aggregate principal amount of $10,000,200 of securities of the Company (the “Equity Financing”).

Pursuant to the Equity Financing, the Company issued an aggregate of 14,286,000 units of the Company (the “Units”) at the price of C$0.70 per Unit. Each Unit consisted of one subordinate voting share (“Common Share”) of the Company and one-half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a “Warrant”). Each Warrant is exercisable into one Common Share at a price of C$1.00 until November 29, 2020.

Canaccord Genuity received a cash fee equal to 6% of the gross proceeds from the Equity Financing. As additional compensation, Canaccord Genuity was granted 857,160 compensation unit warrants (“Compensation Unit Warrants”). Each Compensation Unit Warrant is exercisable into one Unit at a price of C$0.70 per Compensation Unit Warrant. to customary filings, and the Warrants have been qualified along with the Warrants sold pursuant to the Equity Financing.

The previously announced debt financing (the “Debt Financing”) consisting of C$20,000,000 principal amount of unique secured gold notes, secured by, among other things, the Company’s 24 karat gold and platinum inventory at the Company’s vaulted fulfillment centre in New Jersey and 15,000,000 Warrants has received approval of the TSX Venture Exchange subject to customary filings, and the proceeds of the Debt Financing are being held in escrow. Closing of the Debt Financing is expected shortly and will be announced at that time.

Menē intends to use the net proceeds of the Equity Financing and the Debt Financing to expand inventory and for working capital purposes.

Roy Sebag, Menē’s President and Chief Executive Officer, stated, “We are pleased to complete this milestone financing and would like to thank our investors for their vote of confidence. The size and terms of the financing validate the excellent progress the Company has made since our launch in January. We look forward to growing our business in 2019 and beyond as we continue to disrupt the global jewelry industry with our unique business model.”

The distribution of the Units was qualified by way of short form prospectus dated December 18, 2018 which contains important information relating to the Equity Financing. A copy of the final prospectus is available on the SEDAR website at www.sedar.com.

About Menē Inc.

Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by marrying innovative technology, timeless design, and pure precious metals to create pieces which endure as a store of value.

For more information about Menē, visit  mene.com.

Warning

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America.

Forward-Looking Statements

This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about the Equity Financing and the Debt Financing, the expected closing of the Debt Financing, the Company’s anticipated use of the net proceeds of the Equity Financing and the Debt Financing, and the future plans and objectives of the Company are forward-looking information.

Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the intention to complete the Debt Financing, the expected expenditure of the proceeds of Equity Financing and Debt Finaning, and the Company’s objectives, goals or future plans in respect of the use of proceeds; global economic climate; dilution; the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology and manufacturing change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181221005298/en/

CONTACT: Media and Investor Relations Inquiries:

Renee Wei

+1 647 494 0296

ir@mene.com

Jacquelyn Humphrey

Chief Operating Officer

Menē Inc.

jac@mene.com

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: LUXURY NATURAL RESOURCES MINING/MINERALS RETAIL

SOURCE: Menē Inc.

Copyright Business Wire 2018.

PUB: 12/21/2018 09:51 AM/DISC: 12/21/2018 09:51 AM

http://www.businesswire.com/news/home/20181221005298/en

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