Peeks Social Ltd. Completes Private Placement

TORONTO, ON--(Marketwired - April 13, 2017) - Peeks Social Ltd. (TSX VENTURE: PEEK) (OTCQB: KEEKF) is pleased to announce that it has completed its first tranche of a non-brokered private placement of units to raise gross proceeds of up to $5,400,000. The closing of the first tranche on April 12, 2017, resulted in the issuance of 3,338,498 units for gross proceeds of $3,004,650. Mark Itwaru, the CEO of the Company, purchased 555,555 units ($500,000). Each unit was issued at a price of $0.90 per unit and consists of one common share and one common share purchase warrant of the Company. Each warrant is exercisable to purchase one additional common share of the Company at an exercise price of $1.10 per share for a period of 12 months from the date of issuance. A second closing is expected to be completed by April 28, 2017. The common shares and warrants will be subject to a four month hold period.

To date, the Company has received additional subscription agreements in relation to the second closing for 2,445,109 units ($2,200,600), for the proposed aggregate issuance of 5,783,607 units for gross proceeds of approximately $5.2 million. The Company has received conditional acceptance from the TSX Venture Exchange ("TSXV") for the private placement. The private placement is subject to the Company obtaining final acceptance from the TSXV upon the filing of required materials in due course.

The private placement proceeds will be used by the Company for the marketing and advancement of the "Peeks" product, as well as for general corporate purposes.

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

Forward-Looking statements:
The information and statements in this news release contain certain forward-looking information relating to the timing and amount of proceeds to be raised under the second closing of the private placement. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. Peeks Social Ltd.'s forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, Peeks Social Ltd. undertakes no obligation to publicly update or revise any forward-looking information.