AcuityAds Holdings Inc. (TSX-V:AT), a technology leader that provides targeted digital media solutions enabling advertisers to connect intelligently with audiences across digital advertising campaigns, is pleased to announce that it has closed its previously announced bought deal offering of 5,936,300 common shares of the Company at a price of CDN$1.55 per Share  for aggregate gross proceeds of CDN$9,201,265, including the full exercise by the Underwriters (defined below) of the over-allotment option. The Offering was completed by a syndicate of underwriters led by Haywood Securities Inc. and Cormark Securities Inc., and including Paradigm Capital Inc., Echelon Wealth Partners Inc. and Eight Capital.

The Company intends to use the net proceeds of the Offering to pay a portion of a performance based earn-out in connection with its acquisition of certain assets of Magnetic Media Online Holdings Inc., and to repay a portion of the amount owing under its operating line of credit, which will have the result of increasing the Company’s available borrowing capacity under its existing operating line of credit.

In consideration for their services, the Underwriters received cash commission equal to 6% of the gross proceeds of the Offering, and the Company will issue such number of broker warrants (the “Broker Warrants”) equal to 6% of the number of Shares sold in the Offering. Each Broker Warrant will be exercisable into one Share at the Offering Price until May 22, 2021.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About AcuityAds:

AcuityAds is a leading technology company that provides marketers a powerful and holistic solution for digital advertising across all ad formats and screens to amplify reach and Share of Attention® throughout the customer journey. Via its unique, data-driven insights, real-time analytics and industry-leading activation platform based on proprietary Artificial Intelligence technology, AcuityAds leverages an integrated ecosystem of partners for data, inventory, brand safety and fraud prevention, offering unparalleled, trusted solutions that the most demanding marketers require to be successful in the digital era.

AcuityAds is headquartered in Toronto with offices throughout the U.S., Europe and Latin America.