React Gaming extends terms of office
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MONTREAL, Aug. 29, 2022 (GLOBE NEWSWIRE) — React Gaming Group Inc. (“react to the game“or the”society”) (TSXV: RGG, OTCQB: ITMZF) is pleased to announce that it has received approval from the TSX Venture Exchange to extend the term of a total of 31,232,000 common share purchase warrants (the “Mandates”), comprising 21,225,000 Warrants issued pursuant to a private placement closed on March 5, 2021 and 10,007,000 Warrants issued pursuant to an automatic conversion on February 18, 2022 of a subscription receipt offering. The term of the Warrants will be extended as follows:
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|Number of Warrants||Exercise price||Original expiry date||New expiry date|
|21,225,000||$0.265||September 5, 2022||September 5, 2023|
|10,007,000||$0.53||February 18, 2023||February 18, 2024|
All other terms of the Warrants will remain unchanged.
“This extension will give the loyal, dedicated and supportive investors who participated in these two financings, and thus supported React Gaming’s major shift towards esports and iGaming, the opportunity to benefit from the Company’s success in the event where the stock price would exceed the warrants”. strike price,” said Leigh Hughes, CEO of React Gaming.
“As we mentioned in our recent Q2 2022 earnings release, we are committed to growing our esports and iGaming businesses primarily through our online sports betting platform LOOT.BET, as well as our subsidiaries Compete.gg and Parabellum Esports. These warrants would represent an additional source of funding for React Gaming’s longer-term growth plans,” Mr. Hughes added.
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About the React Gaming Group
React Gaming Group (TSXV: RGG, OTCQB: ITMZF) is a publicly traded holding company standing at the forefront of the esports and iGaming industry. By investing in innovative technologies that improve tournaments, teams and betting, we provide our users with gaming platforms that produce uninterrupted action, exciting results and unprecedented fun. Through the use of smart data, we also connect our sponsors to strong communities within a rapidly changing industry, ensuring maximum engagement and substantial reward. For more information, visit reactgaming.ca and follow us on LinkedIn, Twitter, instagram and Youtube.
This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based on a number of estimates and assumptions which, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”. , “expects”, “believes”, or “continues”, or their negative or similar variants. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by such forward-looking statements. and forward-looking statements. statements are not guarantees of future performance. The statements of the Company expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties and conditions, many of which are beyond the control of the Company, and undue reliance should not be placed on these statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s business, including: that the Company’s assumptions in making forward-looking statements may prove to be incorrect; adverse general market conditions and competition; the inability to fund operations and/or secure any future strategic investments necessary to implement new technologies; failure to build a sustainable and conscientious business with a stronger online presence through new products in esports and gaming; failure to obtain or maintain one or more gaming licenses; and that market conditions related to the COVID-19 pandemic could adversely affect the results of the Company’s business or operations, including its results and financial condition. Except as required by securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
REACT GAMING GROUP INC.