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Client Work

Frankly completes qualifying transaction and concurrent US$26.2 million financing

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Overview

Client

Frankly Inc. / TicToc Planet

On December 23, 2014, Frankly Inc. (“Frankly”), formerly WB III Acquisition Corp., announced the completion of its qualifying transaction (the “Transaction”) pursuant to Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange. Pursuant to the Transaction, WB III Subco Inc., a wholly-owned subsidiary of Frankly, merged into Frankly Co. (“TicToc”), formerly named TicToc Planet, Inc. The Transaction was structured as a reverse triangular merger. Frankly’s common shares are now listed for trading on the TSX Venture Exchange under the symbol “TLK”. Prior to the closing of the Transaction, TicToc completed a brokered private placement of subscription receipts for gross proceeds of approximately $26.2 million. Frankly is a next generation chat technology company whose offerings provide dynamic conversation and direct consumer engagement to mobile application experiences. TicToc was advised in this transaction by a team from Fasken Martineau DuMoulin LLP that included Rubin Rapuch, Tracy Hooey, Brad Freelan, Michael Shour, Aidan Hyde, Gordon Hunter (securities/M&A), Mitchell Thaw (tax) and articling students Mark Bowman and Glen Yamashita.

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