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Peeks Social Shortens Streamer Payout Times

TORONTO, June 04, 2020 (GLOBE NEWSWIRE) -- Peeks Social Ltd. (TSX.V: PEEK) (OTCQB: PKSLF) (the a??Companya?? or a??Peeksa??) is pleased to announce that further improvements have been made to its content providersa?? (a??Streamersa??) payout wait times.
Peeks derives its revenue from transactions conducted on its platform. In Q4 2020 the company had reduced Streamer payout cycles to 7 business days from forty five business days. This faster payout cycle resulted in a halt to the decline in traffic and a resumption of utilization of its platform. As of June 3, 2020, Peeks has now further reduced the Streamer payout wait times to 3 business days. The Company expects that reduced hold times will continue to positively affect the Company's growth. Typically, Streamers wait until their payouts are received before they resume streaming. The reduced wait periods for payouts are expected to increase the frequency of Streamers streaming on Peeks and as a result positively impact revenues moving forward. The improvements to the service will be reflected in the Company's Q1 2021 Financial Statements which will cover the period of March 1, 2020 to May 31, 2021."I am extremely happy to see that the recent cash injections into the company yielded the expected results in not only halting the decline of sales, but also returning the company to experience healthy month over month growth once again," states Mark Itwaru, Chairman and CEO.Both the Peeks Social and Mii.TV mobile apps are available for download in the Apple Appstore and Google Play store.A  The websites are available online at www.peeks.com and www.mii.tv respectively.A Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
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