OREANDA-NEWS. Keek (TSX VENTURE: KEK)(OTCQX: KEEKF) announced that further to its press releases dated January 21, 2016, and March 14, 2016, it has closed on the first tranche of its 6,000,000 unit non-brokered private placement. The Company issued 3,000,000 units at a price of $0.25 per unit, including 520,000 units issued to Riavera Corp. ("Riavera"), in this first closing for gross proceeds of $750,000. The Company is currently in the process of finalizing a second and final tranche, expected to be completed on March 24, 2016.

Each unit is comprised of one common share and one common share purchase warrant of Keek. Each warrant entitles the holder to purchase one common share of the company, at a price of $0.30 per share for a period of 12 months. The common shares issued pursuant to the private placement bear a 4 month hold period. The private placement proceeds will be used by Keek for implementation of the licensing agreement with Personas.com Corporation, as well as for general corporate purposes. The Company paid finders fees of $5,475 in relation to this first closing.

As a result of the completion of the private placement, the $3,000,000 principal amount of 7% secured notes due March 1, 2017 held by Riavera (the "Note"), as well as all accrued interest, will automatically convert according to its terms, into common shares of Keek at a price of $0.25 per share. Principal and interest accrued on the Note to March 24, 2016 (being the expected closing of the second and final tranche), will equal approximately $3,448,619 and would result in the issuance by Keek of approximately 13,794,476 common shares. The common shares will be subject to a four month hold period from the date of issue.