Jerrick Media Holdings, Inc. Achieves Funding Milestone, Registrations Are Effective, Third Tranche Is Activated

Published on December 20, 2018

                   Effectiveness of the Company's two pending registration statements clears the third tranche of funding.

NEW YORK, Dec. 21, 2018 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), a technology company and the creators of Vocal, today reported that its two outstanding registration statements have been declared effective by the Securities and Exchange Commission. As such, the Company has achieved the final milestone required to receive the third and final tranche of its current financing offering (the "Offering").

The terms of the Offering required that the Company complete three tasks to release each of three funding tranches, which included the conversion of its debt and preferred stock into shares of the Company's common stock (combined total of $13,896,233), the filing of an S-1 registration statement, and the effectiveness of the S-1 registration statement. With all three tasks now achieved, the Company has met the requirement to receive the third and final tranche of funds. The total capital raised on the Offering as reflected in the company's 8K filing dated October 24, 2018 totals approximately $3.45 million.

"With this final milestone completed, together with a right-sided balance sheet and the expected completion of our current technology development sprint in February 2019, we begin the new year in the strongest fundamental position since the founding of the company," said Jerrick CEO Jeremy Frommer.

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