Playgon Announces Upsizing of Previously Announced Private Placement

About this update from Playgon Games, Inc.

[{"type":"text","content":"Playgon Announces Upsizing of Previously Announced Private PlacementVANCOUVER, BC / ACCESSWIRE / November 3, 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, further to the Company's news release dated October 28, 2021, it intends to 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 $9,000,000 through the sale of up to 30,000,000 Units at a price of $0.30 per Unit (up from the previously announced intention to raise up to $5,000,000). Each Unit will be comprised of one common share of the Company (\"Common Share\") and 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. 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. 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\"), the whole as per the Company's announcement on October 28, 2021.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 workin...

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