Playgon Announces Closing of Private Placement

About this update from Playgon Games, Inc.

[{"type":"text","content":"Playgon Announces Closing of Private PlacementVANCOUVER, BC / ACCESSWIRE / November 17, 2021 / Playgon Games Inc. (TSXV:DEAL)(OTCQB:PLGNF)(FRA:7CR) (\"Playgon\" or the \"Company\"), a propriety SaaS technology company delivering mobile live dealer technology to online gaming operators globally, is pleased to announce that it has completed its previously announced non-brokered private placement of units of the Company (\"Units\") for aggregate gross proceeds to the Company of $10,491,334 (the \"Offering\"). As part of the Offering, the Company issued 34,971,112 Units at a price of $0.30 per Unit (the \"Offering Price\"), which consisted in the issuance of 34,971,112 common shares of the Company (\"Common Shares\") and 17,485,556 Common Share purchase warrants (\"Warrants\") with each whole Warrant entitling the holder thereof to acquire one Common Share at a price of $0.50 per Common Share for a period of 24 months from the closing date of the Offering. The maturity date of the Warrants will be subject to prior acceleration, at the discretion of the Company, should the Common Shares trade at a price of $1.00 per share or greater for a period of 20 consecutive trading days, the whole in accordance with the terms of the Warrants. Each Common Share and Warrant issued (including the Common Shares underlying the Warrants) will be subject to a hold period of four months plus one day following the closing of the Offering (the \"Hold Period\").\"With this capital injection secured and our business now gaining significant traction, Playgon is well positioned to execute on our growth strategy, including adding more development and support resources, increased sales and marketing activity in strategic markets, adding more tables and building a new studio to support the growth we are experiencing. We continue to add and onboard additional operators to our iGaming platform,\" said Darcy Krogh, CEO of Playgon Games. \"I would like to thank both our many existing and new shareholders for supporting our vision. These are exciting times for Playgon, I look forward to keeping the market updated on developments over the coming weeks and months to enhance shareholder value.\"As part of the Offering, the Company paid and/or issued the following finder's fees to certain registered brokers: (i) 233,870 Common Shares and 233,870 broker warrants of the C...

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