BRIEF-Frankly says announces term sheet for equity investment

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Aug 18 Frankly Inc

* Frankly announces term sheet for equity investment and up
to us$16 million loan facility from raycom media

* Will also convert us$1.0 million of its existing us$4.0
million promissory note to shares of frankly common shares

* Raycom will provide co with non-revolving term line of
credit in of $14.5 million and additional available $1.5 million
non-revolving line of credit

* Raycom currently holds 6.8 million class a restricted
voting shares of co , which represent about 21% of
issued,outstanding shares of frankly

* Raycom’s 6.8 million class a restricted voting shares of
frankly will be converted on or prior to closing date into
common shares of frankly

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