Business
Fantasy Aces Completes Acquisition of Fantasy Feud Participants and Commences Trading in the U.S. Market on the OTCQB
Fantasy Aces Completes Acquisition of Fantasy Feud Participants and Commences Trading in the U.S. Market on the OTCQB.
About this update from Fantasy Aces Daily Fantasy Sports C
[{"type":"text","content":"\n \n \n Fantasy Aces Completes Acquisition of Fantasy Feud Participants and Commences Trading in the U.S. Market on the OTCQB\n \n \nFantasy Aces Completes Acquisition of Fantasy Feud Participants and Commences Trading in the U.S. Market on the OTCQB\n \n ALISO VIEJO, CALIFORNIA--(Marketwired - Nov 15, 2016) - Fantasy Aces Daily Fantasy Sports Corp. (the \"Corporation\" or \"Fantasy Aces\") (TSX VENTURE:FAS)(OTCQB:FASDF) is pleased to announce that it has closed the previously announced acquisition of certain active daily fantasy sports participants in the database of Fantasy Feud Inc., a subsidiary of Gaming Nation Inc. (\"Gaming Nation\") (TSX VENTURE:FAN), for a purchase price of C$454,250 (the \"Acquisition\"). The Corporation paid Gaming Nation a cash payment of C$25,000, with the remainder of the purchase price being paid by way of 6,132,143 common shares of the Corporation (\"Common Shares\") at a price of C$0.07 per Common Share. The completion of the Acquisition is subject to final TSX Venture Exchange (\"TSXV\") acceptance.\n In addition, Fantasy Aces is excited to announce that its Common Shares will begin trading on the OTCQB, a U.S.-based stock exchange, under the symbol FASDF, effective immediately. The Common Shares will continue to trade on the TSXV under the existing symbol FAS.\n OTC Markets Group Inc., located in New York, N.Y., operates the world's-largest electronic interdealer quotation system. It offers transparent trading to entrepreneurial and development-stage companies that have met a minimum bid price test, are current in their financial reporting, and have undergone an annual verification and management certification process. Its standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.\n Tom Frisina, CEO of Fantasy Aces stated: \"As our business continues to expand, it is important that our visibility follows suit. We are pleased with our progress to date and we're at an important inflection point to generating substantially more revenue over the coming quarters. We therefore felt it was necessary to expand our investor audience in a market that understands the scope of our business.\"\n Mr. Frisina went on to add: \"The closing of the acquisition from Gaming Nation is an important milestone for us ...