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#3 -_ 1 (1)

January 12, 2023

Source: Yahoo Finance

Vancouver, British Columbia--(Newsfile Corp. - January 11, 2023) - MediaValet Inc. (TSX: MVP) (the Company), a leading provider of enterprise digital asset management (DAM), video content management and creative operations software, is pleased to announce its credit facility with TD Bank Group has been increased to $9 million (previously $7M).

"The increase in our revolving credit facility aligns with the increase of our annual recurring revenue in 2022 and supports our expected growth in the coming year," commented David MacLaren, Founder and CEO of MediaValet. "Further, it reflects our go-to-market success to date, our consistent high-growth ARR performance year-over-year, and the long-term opportunity ahead of us in the DAM market. As we strive to increase our market share further in 2023 and strengthen our leadership position in the global DAM industry, access to sufficient growth capital is mission critical."

"As originally reported in Q4 2021, the revolving credit facility provides us with an efficient low-cost of capital alternative to optimize our working capital and retain our operational flexibility," said Dave Miller, MediaValet's Chief Financial Officer. "This increase, along with the $3.0 million Private Placement that we announced on December 30, 2022, adds to the $2.89 million of Modified Working Capital1 reported in our Q3 results, further strengthening our financial position. Based on our current growth trajectory and disciplined operational spending, we believe this increase in available growth capital puts us in a position of financial strength as we enter 2023."

Pursuant to the loan agreement, the credit facility is secured against the assets of the Company. The credit facility is expected to be used by the Company to fund working capital in support of the continued growth objectives.

1 Modified Working Capital is a non-IFRS measure representing the Company's available working capital, calculated as total current assets minus accounts payable. As such, it excludes deferred revenue and current lease obligations – both of which are due and funded through future operations as opposed to incurred expenses such as those included in accounts payable.

About MediaValet Inc.

MediaValet stands at the forefront of the digital asset management, video content management and creative operations industries. Built exclusively on Microsoft Azure and available across 61 Microsoft data center regions in 140 countries around the world, MediaValet delivers unparalleled enterprise-class security, reliability, redundancy, compliance, and scalability; while offering the largest global footprint of any DAM solution. In addition to providing enterprise, cloud-native DAM capabilities at a global scale, desktop-to-server-to-cloud support for creative teams, and overall cloud redundancy, continuity and management for all source, WIP and final assets, MediaValet offers industry-leading integrations into Slack, Adobe Creative Suite, Microsoft Office 365, Workfront, Wrike, Drupal, WordPress and many other best-in-class 3rd party applications.

Follow MediaValet: Blog, Twitter and LinkedIn

Surf: www.mediavalet.com

For further information, please contact:

David MacLaren
Tel: (604) 688-2321
david.maclaren@mediavalet.com

Babak Pedram
Tel: (416) 644-5081
babak.pedram@mediavalet.com