Global Daily Fantasy Sports Inc. announces closing a first tranche of its private placement

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[{"type":"text","content":"\n\n\n\nGlobal Daily Fantasy Sports Inc. announces closing a first tranche of its 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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, April 5, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, April 5, 2019 /CNW/ - Global Daily Fantasy Sports Inc. (TSX-V: DFS / Frankfurt: 7CR) (\"Global\" or the \"Company\") is pleased to announce that it has closed the first tranche of the private placement financing (the \"Private Placement\") announced in the Company's news release dated March 12, 2019. In this first tranche 11,600,000 units (the \"Units\") were issued at a price of $0.10 per Unit for gross proceeds of approximately $1,160,000. Each Unit is composed of one common share of the Company and one non-transferable common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.20 until April 4, 2020 (the \"Expiry Date\").  Notwithstanding the above, if over a period of 20 consecutive trading days (a \"Trading Target\") commencing at any time after April 4, 2019 until the Expiry Date, the closing price of the common shares of the Company on the TSX Venture Exchange (the \"Exchange\") or such other stock exchange where the majority of the trading volume occurs, exceeds or is equal to $0.25 over those 20 consecutive trading days, the Company may, at its sole option, give written notice to the holders of the Warrants (the \"Exercise Notice\") that the Warrants will expire at 4:30 p.m. (Vancouver time) on the earlier of (i) the 30th day following the giving of the Exercise Notice); and (ii) the Expiry Date, unless exercised by the holders prior to such date.\n\n \n \n\n \nThe securities issued pursuant to the Private Placement are subject to a hold period under applicable Canadian securities laws, expiring on August 5, 2019.  The Private Placement is subject to the final acceptance of t...

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