Ann: S/HOLDER: SNK: Investors apply for more than

• Release Date: 24/05/13 14:03
• Summary: S/HOLDER: SNK: Investors apply for more than $7.5m of Snakk
• Price Sensitive: No
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SNK
24/05/2013 12:03
S/HOLDER

REL: 1203 HRS Snakk Media Limited

S/HOLDER: SNK: Investors apply for more than $7.5m of Snakk

Investors apply for more than $7.5m of Snakk
Board scales back SPP applications, accepts $6.5m of new capital

AUCKLAND, New Zealand, 24 May 2013 - The board of 'new screen' start-up Snakk
Media Ltd., (NZAX: SNK) is pleased to announce the company has received more
than $7.5m from over 1200 investors applying to take part in its Share
Purchase Plan (SPP) capital raising initiative.

The amount raised far exceeded the company's minimum target of $2m, and
although the board has the right to accept the full amount, it has elected to
scale back all applications received by 15%.

Together with a private placement that raised approximately $600,000, the
final amount of capital raised will be $6.5m.

"The response from investors is spectacular, and greater than we expected,"
says Snakk Chair and Co-Founder Derek Handley. "It shows our investors are
confident in the company's business model, growth prospects and the mobile
and tablet revolution ahead of us."

"The new funds allow us to accelerate our plans to explore strategic
investments and acquisitions - so that we can keep investing in the right
areas that will build and scale the business for the long-term."

The successful capital raising coincides with Snakk's recent expansion into
New Zealand, where newly hired Rowan Spinks joined this week as the company's
first sales-focussed executive based outside of Australia.

The company marked its first week in New Zealand by presenting to a sold-out
crowd at the Marketing Association's annual "Digital Day Out", where Snakk
Co-Founder and General Manager Andrew Jacobs shared local market statistics
illustrating the country's explosive growth in the use of smart, 'new screen'
devices. He also presented a series of case studies demonstrating how Snakk
is using a combination of interactive rich media, social media aggregation,
location-based targeting and multiple ad network technologies to achieve
great results for brands.

"After such a compelling response to the SPP it is also very encouraging to
see how well Snakk is being received in New Zealand," says Group CEO Mark
Ryan. "It was obvious from the enthusiasm and knowledge of the in the people
in the room at this event that the New Zealand mobile market is absolutely on
the right upward growth trajectory."

The Snakk board is very pleased with the SPP results and thanks shareholders
for their strong support.

ENDS
For media inquiries, please contact: Julie Landry, Snakk Media, 021 895 098

For investor inquiries, please email: [email protected] or phone 021
464 392

Follow Snakk for investor and market updates on twitter.com/snakkir

About Snakk Media Limited
Snakk enables brands to reach their consumers on smartphones and tablets,
delivering engaging ads across a network of mobile websites, applications,
and games in a way that is highly targeted, measurable and scalable. The
company's expertise and portfolio of technology aggregates a publisher's
supply of ad space and matches it with an advertiser's demand.

Snakk generates revenue every time an ad uses its networks to appear on the
sites, games and social networks of a tablet or smartphone. Revenue comes
from both the advertiser paying to use the ad space and the publishers
serving the ad to its audiences.

Snakk is deeply committed to building a purpose-driven business that balances
commercial outcomes with a higher social purpose.
End CA:00236619 For:SNK    Type:S/HOLDER   Time:2013-05-24 12:03:33