On August 14, 2015, leading mobile video social network Keek Inc. (TSXV: KEK) (OTCQX: KEEKF) announced that it had entered into a technology platform licence agreement with Personas.com Corporation. Personas.com is the world’s first mobile commerce powered social network.
Pursuant to the agreement, Keek granted Personas.com a non-exclusive license to use its proprietary software to facilitate commercial transactions and communication between the members of certain social network communities, as well as between the members and brick and mortar retailers, online retailers, brands and advertisers. Personas.com has agreed to pay Keek a licensing fee equal to 10% of the gross revenue earned by Personas.com through the use of Keek's platform.
Also, pursuant to a private placement of securities of Keek, Personas.com acquired, and now owns and controls, 2,000,000 common shares of Keek, representing 10.7% of the outstanding common shares of the company on a undiluted basis and 2,000,000 warrants to purchase common shares of company, representing in aggregate, 19.3% of the outstanding common shares of Keek on a partially diluted basis.
Gowlings advised Personas.com both respect to the private placement and the technology agreement with a team that included Nurhan Aycan and Jeff Zabalet (corporate/M&A) and Paul Armitage (IP/technology).