Business
Newgioco Announces Effective Date of Resale Registration Statement on Form S-1
Newgioco Announces Effective Date of Resale Registration Statement on Form S-1.
About this update from Elys Bmg Group, Inc.
[{"type":"text","content":"NEW YORK, NY / ACCESSWIRE / November 14, 2018 / Newgioco Group, Inc. (''Newgioco'' or the ''Company'') (OTCQB: NWGI), a sports betting and gaming technology company providing regulated online and land-based gaming and wagering through licensed subsidiaries in Italy and Austria, and headquartered in Toronto, Canada, announced today that its resale registration statement on Form S-1 (the "Registration Statement") relating to the resale of up to 3,892,379 shares (the ''Shares'') of the Company's common stock issuable upon exercise of warrants (the ''Warrants'') held by certain selling shareholders was declared effective by the Securities and Exchange Commission (''SEC'') on November 6, 2018.Although Newgioco will not receive any proceeds from the resale of the Shares, it will receive gross proceeds of US$0.50 per share upon the exercise of the Warrants. The Registration Statement, while effective, will allow the selling shareholders named therein to publicly resell the Shares subject to the prospectus delivery requirements of the Securities Act of 1933, as amended, in connection with any such resale.The offering of the Shares may only be made by means of a prospectus. The Registration Statement and prospectus may be obtained electronically through the SEC's website at www.sec.gov. A copy of the prospectus relating to the offering may be obtained by writing to Newgioco Group, Inc. at Suite 701, 130 Adelaide St. W. Toronto, Ontario, M5H 2K4, by calling (416) 306-1771 or by e-mailing [email protected] press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Newgioco, nor shall there be any sales of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.The effectiveness of the Resale Registration Statement and commitment to transparency for shareholders is the culmination of years of strategic, technological and operational progress. As part of the long-term growth plan to enter and develop our operations in the U.S. sports betting market, Newgioco has significantly enhanced its board of directors and executive management team, which now includes the following: Harold Wolkin as Chairman of the Board and independ...