Global Daily Fantasy Sports Inc. Announces Closing a Second Tranche of Its Private Placement

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[{"type":"text","content":"Global Daily Fantasy Sports Inc. Announces Closing a Second Tranche of Its Private PlacementVancouver, British Columbia--(Newsfile Corp. - July 18, 2019) - Global Daily Fantasy Sports Inc. (TSXV: DFS) (FSE: 7CR) (\"Global\" or the \"Company\") is pleased to announce that it has closed the second tranche of the private placement financing (the \"Private Placement\") announced in the Company's news release dated March 12, 2019. In this second tranche 3,400,000 units (the \"Units\") were issued at a price of $0.10 per Unit for gross proceeds of approximately $340,000. Each Unit is composed of one common share of the Company and one non-transferable common share purchase warrant (each 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 July 17, 2020 (the \"Expiry Date\"). Notwithstanding the above, if over a period of 20 consecutive trading days (a \"Trading Target\") commencing at any time after July 17, 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.The securities issued pursuant to the Private Placement are subject to a hold period under applicable Canadian securities laws, expiring on November 18, 2019. The Private Placement is subject to the final acceptance of the Exchange.The Company intends to use the net proceeds of the Private Placement for, sales and marketing activities in core and new markets and general working capital. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any State Securities Laws and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act. This release does not constitu...

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