Jerrick Media Holdings, Inc. Completes a Successful Tender Offer with over 93% of Eligible Warrants Exchanged

Published on May 16, 2019

NEW YORK, May 17, 2019 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), the creator of Vocal, announced today that on May 17, 2019 it substantially completed its offer to holders of certain of the Company's outstanding warrants (the "Warrants"). The aggregate amount of the Warrants tendered, each with an exercise price of $0.30, represents approximately 93% of the warrants eligible to be exchanged, and 82% of the Company's total outstanding warrants.

"This is an exciting inflection point in our growth strategy that positions the Company to achieve key near-term milestones as we advance our plans for a NASDAQ uplisting later this year," commented Jerrick CEO Jeremy Frommer. "We appreciate the support of our warrant holders and look forward to demonstrating our ongoing commitment to building long-term shareholder value."

The offer was to holders of certain of the Company's Warrants, each with an exercise price of $0.30, to receive an aggregate of 53,754,849 shares of the Company's Common Stock, par value $0.001 per share (the "Shares"), by agreeing to receive fifty thousand (50,000) Shares in exchange for every one-hundred thousand (100,000) Warrants tendered by the holders of Warrants (the "Tender Offer"). Jerrick exchanged approximately 50,030,596 Warrants as part of the Tender Offer.  Participating investors will receive approximately 25,015,322 Shares by May 27, 2019, but likely at an earlier date.

The complete terms of the Tender Offer were set forth in the Tender Offer Statement on Schedule TO and related exhibits filed with the Securities and Exchange Commission (the "SEC") on April 15, 2019, as amended. Copies of the Schedule TO, the prospectus and other related materials are available on the SEC's website, at

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