PLAYGON Announces Intention to Complete a Private Placement

About this update from Playgon Games, Inc.

[{"type":"text","content":"PLAYGON Announces Intention to Complete a Private PlacementVANCOUVER, BC / ACCESSWIRE / October 28, 2021 / Playgon Games Inc. (TSX-V: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 it intends to complete a non-brokered private placement of units of the Company (\"Units\") at a price of $0.30 per Unit for aggregate gross proceeds to the Company of up to $5,000,000 (the \"Proposed Offering\"). Each Unit will be comprised of one common share of the Company (\"Common Shares\") and one half of one common share purchase warrant of the Company (\"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. 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, 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. Any net proceeds received by the Company from the Proposed Offering are intended to be used to help fund (a) sales and marketing programs for global expansion, (b) additional software engineering, product design, customer support and team leadership, (c) increase IT infrastructure, (d) increase dealer staff and support staff, (e) new studio locations, (f) U.S. strategic initiatives including corporate licensing and certification, and (g) general working capital and corporate purposes. In connection with the Proposed Offering, the Company may also pay certain finder's fees comprised of cash payments and the issuance of compensation warrants (the \"Compensation Warrants\") to certain registered brokers or dealers on subscriptions introduced to the Company, subject to compliance with applicable securities laws and the rules and regulations of the TSX Venture Exchange (\"TSXV\"). The Compensation Warrants will be non-transferable and entitle the holder thereof to a...

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