Global Daily Fantasy Sports Announces Private Placement

About this update from Playgon Games, Inc.

[{"type":"text","content":"\n\n\n\nGlobal Daily Fantasy Sports Announces Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 21, 2018\n\n\n\nTORONTO, June 21, 2018 /CNW/ - Global Daily Fantasy Sports Inc. (referred to as \"Global\" or the \"Company\") (TSX-V: DFS), is pleased to announce that it intends to raise gross proceeds of up to $3,000,000 through a non-brokered private placement of 17,143,000 units (the \"Units\") of the Company at a price of $0.175 per Unit.  Each Unit will consist of one (1) common share and one-half common share purchase warrants (each whole warrant, a \"Warrant\").  Each Warrant will entitle the holder to purchase one Common Share of the Company for a period of 36 months from the date of issuance at an exercise price of $0.40 per Warrant, subject to an accelerated expiry after twelve (12) months from closing of the Offering in the event that the common shares trade above a weighted average price of $0.60 for any 15 consecutive trading days period on the TSX Venture Exchange (the \"TSXV\"), or other exchange where the Company's shares are listed.\n\n\n \n \n\n \nThe non-brokered private placement is subject to all necessary regulatory approvals.  The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Company may pay a finders fee at their discretion to parties involved in the financing. The Company intends to use the net proceeds for additional technical resources, new sport development, sales and marketing activities in core and new markets and general working capital.\n\nGlobal would also like to announce that it has retained, subject to acceptance of filings with regulatory authorities, Independent Trading Group Inc. (\"ITG\") to provide market maintenance services to the Company in compliance with regulatory guidelines.  ITG will trade shares of the Company on the TSX Venture Exchange for the purposes of maintaining a reasonable market and improving the liquidity of the Company's common shares. ...

More updates from Playgon Games, Inc.