May 1 (Reuters) - Frankly Inc TLK.V :
* FRANKLY ANNOUNCES PRIVATE PLACEMENT FINANCING, REDUCTION OF OVER US$13 MILLION OF DEBT, REPURCHASE OF CONTROL PARTY EQUITY POSITIONS AND PURCHASE OF TRITON DIGITAL RADIO PLATFORM ASSETS, COVERING APPROXIMATELY 800 RADIO STATION WEBSITES
* FRANKLY INC - TO ACQUIRE TRITON DIGITAL'S "AMP" RADIO CONTENT MANAGEMENT SYSTEM AND RELATED CUSTOMER AGREEMENTS
* FRANKLY INC - TO CANCEL APPROXIMATELY US$13 MILLION OF DEBT OWED TO GRAY MEDIA GROUP AND TO ACQUIRE ALL OF OUTSTANDING COMPANY COMMON SHARES HELD BY GRAY
* FRANKLY INC - TO ACQUIRE ALL OF OUTSTANDING COMPANY COMMON SHARES HELD BY SKP AMERICA, LLC
* FRANKLY INC - IN CONNECTION WITH TRANSACTIONS, CO INTENDS TO COMPLETE A NON-BROKERED PRIVATE PLACEMENT WITH TARGET GROSS PROCEEDS OF UP TO US$7 MILLION