Business
NorthStar Obtains Regulatory Approval to Proceed with Proposed Financing
Toronto, Ontario--(Newsfile Corp. - October 27, 2023) - NorthStar Gaming Holdings Inc. (TSXV: BET...
About this update from Northstar Gaming Holdings Inc
[{"type":"text","content":"NorthStar Obtains Regulatory Approval to Proceed with Proposed FinancingToronto, Ontario--(Newsfile Corp. - October 27, 2023) - NorthStar Gaming Holdings Inc. (TSXV: BET) (\"NorthStar\" or the \"Company\") today announced that it has received a decision from the Ontario Securities Commission (\"OSC\") to permit the Company to obtain shareholder approval for its proposed $10.3 million private placement financing with Playtech plc and certain insiders of the Company (the \"Transaction\") by way of written consent.As previously disclosed, closing of the Transaction requires shareholder approval pursuant to MI 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") due to the participation of Playtech, an existing investor in the Company, as well as members of the Company's senior management team. With the waiver obtained from the OSC, the Company is exempt from the requirement to hold a shareholders' meeting to approve the Transaction and will instead seek to obtain written approval from holders of a majority of the common shares (excluding Playtech and management) in accordance with the OSC's decision.The Company anticipates closing of the Transaction will occur prior to the end of October 2023. About NorthStar NorthStar proudly owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores directly in the betting environment along with the most popular online casino games. NorthStar also provides managed services to Spreads.ca an iGaming site owned and operated by the Abenaki Council of Wolinak.A Canadian company, NorthStar is uniquely positioned to become a convergence leader in the intersection of sports media and sports wagering thanks to its partnerships and agreements with leading media companies. NorthStar is committed to operating at the highest level of responsible gaming standards.No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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 press...