Playgon Announces Further Upsizing of Previously Announced Private Placement

About this update from Playgon Games, Inc.

[{"type":"text","content":"Playgon Announces Further Upsizing of Previously Announced Private PlacementVANCOUVER, BC / ACCESSWIRE / November 10, 2021 / Playgon Games Inc. (TSXV:DEAL)(OTCQB:PLGNF)(Frankfurt: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, as a result of strong and continued investor demand and further to the Company's news releases dated October 28, 2021 and November 3, 2021, it intends to further upsize its previously announced non-brokered private placement (the \"Proposed Offering\") of units of the Company (\"Units\"). The upsized Proposed Offering is expected to be for gross proceeds of up to $10,500,000 through the sale of up to 35,000,000 Units at a price of $0.30 per Unit (up from the previously announced intention to raise up to $9,000,000). Each Unit will be comprised of one common share of the Company (\"Common Share\") and one half of one Common Share purchase warrant (\"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 Proposed Offering.\"With overwhelming demand from investors, we have elected to upsize our previously announced financing to further support our growth initiatives,\" said Darcy Krogh, CEO of Playgon Games. \"We are delighted with investor support and appreciate the vote of confidence in our team and our truly innovative mobile Live Dealer product.\"The maturity date of the Warrants will be subject to prior acceleration following closing of the Proposed Offering, 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 following the Hold Period, the whole in accordance with the terms of the Warrants. Each Unit (including the underlying securities) will be subject to a hold period of four months plus one day following the closing of the Proposed Offering (the \"Hold Period\"). In connection with the Proposed Offering, the Company intends to pay certain finder's fees to certain registered brokers in the form of cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange (the \"TSXV\"), as described in the Company's p...

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