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Playgon Announces Closing of Second Tranche of Non-Brokered Private Placement of Unsecured Convertible Debentures, Proposed Additional Brokered Financing and Additional Financing by Anchor Investor Total Aggregated Potential Financings of up to Approximately $10 Million
Vancouver, British Columbia--(Newsfile Corp. - March 27, 2023) - Playgon Games Inc. (TSXV: DEAL)...
About this update from Playgon Games, Inc.
[{"type":"text","content":"Playgon Announces Closing of Second Tranche of Non-Brokered Private Placement of Unsecured Convertible Debentures, Proposed Additional Brokered Financing and Additional Financing by Anchor Investor Total Aggregated Potential Financings of up to Approximately $10 MillionVancouver, British Columbia--(Newsfile Corp. - March 27, 2023) - Playgon Games Inc. (TSXV: DEAL) (OTCQB: PLGNF) (FSE: 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 a second tranche closing of its previously announced non-brokered private placement of unsecured convertible debentures (the \"Debentures\") for additional aggregate gross proceeds to the Company of CAD$275,000 (the \"Non-Brokered Offering\"). This announcement is made further to the previously announced closing on January 19, 2023 of the first tranche closing of the Non-Brokered Offering for aggregate gross proceeds to the Company of CAD$1,820,000. In total, the Company received aggregate gross proceeds of CAD$2,095,000 following the closing of both tranches of the Non-Brokered Offering. All terms governing the Debentures issued as part of the Non-Brokered Offering were previously disclosed in the Company's previous press releases.The Debentures (including the underlying Common Shares) will be subject to a statutory hold period of four months plus one day following the closing date of the Non-Brokered Offering. The Non-Brokered Offering remains subject to the final approval of the TSXV.Proposed Brokered FinancingThe Company is also pleased to announce that it has entered into an agreement with Pollitt & Company Inc. (the \"Lead Agent\") to act as lead agent, on its own behalf and, if applicable, on behalf of a syndicate of agents (together with the Lead Agent, the \"Agents\"), on a commercially reasonable efforts basis, in connection with a new proposed private placement offering (the \"Brokered Offering\") of unsecured convertible debentures (the \"New Debentures\") for aggregate gross proceeds of up to $2,000,000, or such other amount as the Company and Lead Agent may mutually agree. The terms governing the New Debentures will be substantially identical to those governing the Debentures previously issued in connection with the Non-Brokered Offerin...