Global Daily Fantasy Sports Inc. Announces Closing of Private Placement

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[{"type":"text","content":"\n\n\n\nGlobal Daily Fantasy Sports Inc. Announces Closing of 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\nVANCOUVER, Oct. 10, 2018\n\n\n\nVANCOUVER, Oct. 10, 2018 /CNW/ - Global Daily Fantasy Sports Inc. (TSX-V: DFS) (\"Global\" or the \"Company\") is pleased to announce that it has closed a second tranche of the private placement financing (the \"Private Placement\") announced in the Company's news release dated June 21, 2018. In this second tranche 3,717,205 units (the \"Units\") were issued at a price of $0.15 per Unit for gross proceeds of approximately $557,580.75 Each Unit is composed of one common share of the Company and one-half of one transferable common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.40 until September 28, 2021 (the \"Expiry Date\").  Notwithstanding the foregoing, the Expiry Date of the Warrants may be accelerated by the Company, at its sole option, by giving notice to the holders of the Warrants thereof, if over a period of 15 consecutive trading days commencing at any time after September 28, 2019, the volume-weighted average trading 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 $0.60.\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 January 29, 2019.\nThe Company intends to use the net proceeds of the Private Placement for, new sport development, sales and marketing activities in core and new markets and general working capital. \nThe Company also announces that the Exchange has granted an extension to November 02, 2018 for filing final documentation in respect of the Private Placement.\nThe Company has paid a commission of $18,000 to Leede Jones Gable for their participation on the financing\nAbout Global Daily Fantasy Sports I...

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