Rivalry Announces Private Placement and Restructuring of Outstanding Indebtedness, Concluding Its Strategic Review Process

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[{"type":"text","content":"Rivalry Announces Private Placement and Restructuring of Outstanding Indebtedness, Concluding Its Strategic Review Process\n\n\n\n TORONTO, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Rivalry Corp. (the “\n \n Company\n \n ” or “\n \n Rivalry\n \n ”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, today announces that it is completing a non-brokered private placement (the \"\n \n Private Placement\n \n \") for aggregate gross proceeds of up to C$5,520,000 and that it has entered into a debt settlement agreement, pursuant to which the Company's senior lender has agreed to restructure the Company's outstanding indebtedness. The Company also announces the conclusion of its strategic review process.\n \n\n\n Private Placement\n \n\n\n The Company is undertaking a non-brokered private placement of up to 110,400,000 units (each, a \"\n \n Unit\n \n \") at a subscription price of C$0.05 per Unit (the \"\n \n Offering Price\n \n \"), for aggregate gross proceeds of up to C$5,520,000. Each Unit will be comprised of one (1) subordinate voting share in the capital of the Company (each, a \"\n \n SV Share\n \n \") and one (1) SV Share purchase warrant (each, a \"\n \n Warrant\n \n \"). Each Warrant will be exercisable into one (1) SV Share (each, a \"\n \n Warrant Share\n \n \") at a price of $0.10 per Warrant Share for a period of 24 months. As of the date hereof, the Company has entered into a binding subscription agreement with a strategic family office, whereby such subscriber has agreed to purchase an aggregate of 82,758,620 Units under the Private Placement for aggregate gross proceeds to the Company of C$4,137,931 (the “\n \n Initial Subscription\n \n ”).\n \n\n The Private Placement is expected to close in one or more tranches, with the first tranche expected to close on or about October 8, 2025, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “\n \n TSXV\n \n ”). The SV Shares issued in connection with the Private Placement will be subject to a four-month statutory hold period, in accordance with applicable securities legislation.\n \n\n The Company intends to use the proceeds from the Private Placement for co...

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