Engagement Labs Announces $2 Million Financing

TORONTO, Ontario - April 28, 2016 - Engagement Labs Inc. (TSXV: EL) announced today that it intends to complete a financing of approximately $2 million in units on a private placement basis with D&D Securities Inc. and PowerOne Capital Markets Limited as Agents (together, the “Agents”).

The company intends to sell approximately 7.5 million Units at $0.27 per Unit. Each Unit will consist of one share and one common share purchase warrant exercisable at $0.35 per share for a two year period from closing.

Aggregate compensation payable to the Agents (including any members of the selling group) shall consist of a cash commission equal to up to 8.0% of the gross proceeds of the Offering plus that number of brokers’ compensation warrants equal in number to up to 8.0% of the number of brokered Units issued, exercisable at $0.27 per Unit for a period of twenty-four months from closing. Use of proceeds is for general working capital. Completion of the private placement is subject to final approval of the TSX Venture Exchange upon filing of customary closing documentation.

It is a condition of closing that a requisite number of holders of outstanding convertible debentures of which approximately $2.9 million are outstanding, approve the extension of the maturity date of the debentures from December 31, 2016 until June 30, 2018 and a reduction of the conversion price from $0.35 to $0.27 per share. Closing is scheduled for May 18, 2016 or such later date that the requisite number of holders of debentures have consented to the amendments in writing, or if not approved in writing, immediately following a meeting of debenture holders called to approve such amendments scheduled to be held at the end of May 2016.

“It is an exciting time at Engagement Labs. We are particularly focused on the pending launch of our new solution that can help all brands and agencies: TotalSocial. TotalSocial allows brands to understand the full depth and breadth of conversations that occur both online and offline. We are pleased with the recent signing of a global beauty manufacturer who has signed a USD $550,000 annual contract with Engagement Labs for TotalSocial in advance of the product’s launch,” said Bryan Segal, CEO at Engagement Labs.

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

About Engagement Labs

Engagement Labs (TSXV:EL) offers intelligent data, analytics and insights for marketers and organizations to track, measure and benchmark the conversations happening around their brand or industry, both online and offline. These conversations are proven to drive critical business outcomes, including sales, while Engagement Labs’ tools provide the data and actionable insight to help guide business decisions and power marketing effectiveness.

eValue™ Analytics is the global benchmarking tool for social media scoring. eValue’s proprietary data technology offers real-time analysis to measure a brand’s social media performance. TalkTrack®, from the Keller Fay Group, an Engagement Labs company, is the only data system to measures the totality of word of mouth – both online and offline. Engagement Labs maintains offices in Toronto, New Brunswick NJ, Montreal, and London.

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For media inquiries please contact:
Jessica Dell’Aquila
Marketing Director – Engagement Labs
O: 647-776-4100 ex 214
M: 416-998-1586