MeetMe Announces California Business of Oversight Approval of Skout Acquisition


Company Buys Back $2 Million of its Common Stock

MeetMe, Inc. (NASDAQ: MEET), a public market leader for social
discovery, announced today that the California Department of Business
Oversight has determined that the terms and conditions of the offer and
sale of MeetMe common stock in its proposed merger with Skout, Inc. are
fair, and that the Department has issued a permit authorizing MeetMe to
issue shares of common stock in the merger. The determination was made
at the conclusion of a fairness hearing conducted under Section 25121 of
the California Corporations Code.

The issuance of the permit will allow for the shares of MeetMe common
stock to be issued in reliance upon an exemption from registration
afforded by Section 3(a)(10) of the Securities Act of 1933, as amended,
such that MeetMe will not need to register such shares under the
Securities Act.

The proposed merger remains subject to the approval of Skout’s
shareholders and the satisfaction of certain other customary closing
conditions. MeetMe expects the acquisition to close in early October

MeetMe also announced today that it has repurchased approximately $2
million worth of its common stock in the open market since announcing
its $15 million share repurchase program on September 6, 2016.

About MeetMe, Inc.

MeetMe® is a leading social network for meeting new people in the US and
a public market leader for social discovery (NASDAQ: MEET). MeetMe makes
it easy to discover new people to chat with on mobile devices. With
approximately 90 percent of traffic coming from mobile and more than one
million total daily active users, MeetMe is fast becoming the social
gathering place for the mobile generation. MeetMe is a leader in mobile
monetization with a diverse revenue model comprising advertising, native
advertising, virtual currency, and subscription. MeetMe apps are
available on iPhone, iPad, and Android in multiple languages, including
English, Spanish, Portuguese, French, Italian, German, Chinese
(Traditional and Simplified), Russian, Japanese, Dutch, Turkish and
Korean. For more information, please visit

Forward-Looking Statements

Certain statements in this press release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding whether we will close the
acquisition of Skout, Inc. as anticipated. All statements other than
statements of historical facts contained herein are forward-looking
statements. The words “believe,” “may,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “could,” “target,”
“potential,” “project,” “is likely,” “expect” and similar expressions,
as they relate to us, are intended to identify forward-looking
statements. We have based these forward-looking statements largely on
our current expectations and projections about future events and
financial trends that we believe may affect our financial condition,
results of operations, business strategy and financial needs. Important
factors that could cause actual results to differ from those in the
forward-looking statements include the risk that our applications will
not function easily or otherwise as anticipated, the risk that we will
not launch additional features and upgrades as anticipated, the risk
that unanticipated events affect the functionality of our applications
with popular mobile operating systems, any changes in such operating
systems that degrade our mobile applications’ functionality and other
unexpected issues which could adversely affect usage on mobile devices.
Further information on our risk factors is contained in our filings with
the Securities and Exchange Commission, including the Form 10-K for the
year ended December 31, 2015 and the Form 10-Q for the quarter ended
June 30, 2016. Any forward-looking statement made by us herein speaks
only as of the date on which it is made. Factors or events that could
cause our actual results to differ may emerge from time to time, and it
is not possible for us to predict all of them. We undertake no
obligation to publicly update any forward-looking statement, whether as
a result of new information, future developments or otherwise, except as
may be required by law.

MKR Group Inc.
Todd Kehrli or Jim Byers

Source: MeetMe, Inc.