Victory Square Technologies Inc. Portfolio Company GameOn Entertainment Technologies Inc. Announces C$1.5 Million Non - Brokered Private Placement
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- GameOn is planning to list in Q1, 2021.
- GameOn has recently strategically beefed up its Board and Advisory Council bringing on noted and respected colleagues in the sports, entertainment, gaming and wagering spaces: J Moses, a respected game industry veteran who also served as an advisor for the sports wagering platform Bet.Works (recently acquired by Ballys), Mike Vorhaus, seed investor at DraftKings and Skillz, Sean Hurley, previously served as Head of Sportsbook at DraftKings and Sabrina Carrozza, a communications consultant who represents some of the biggest brands in sports, media and technology.
- GameOn will be the next Victory Square portfolio company going public, following FansUnite Entertainment Inc. which was successfully listed on the CSE in May 2020 (CSE:FANS)
VANCOUVER, British Columbia, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) is pleased to announce that its portfolio company GameOn Entertainment Technologies Inc. (“GameOn”) has launched a non-brokered private placement of up to 4,285,715 subscription receipts of GameOn (each a “Subscription Receipt”) for aggregate gross proceeds of up to CAD$1,500,000 at a price of CAD$0.35 per Subscription Receipt (the “SR Offering”). The Subscription Receipts will be issued pursuant to and governed by a subscription receipt agreement to be entered between GameOn and an escrow agent to be appointed by GameOn on or prior to the closing date of the SR Offering (the “SR Agreement”).
In accordance with the SR Agreement, each Subscription Receipt shall be automatically converted without any further action on the part of the holder thereof into one unit of GameOn (each, a “SR Unit”) upon the satisfaction of certain escrow release conditions (the “Escrow Release Conditions”) including the receipt of conditional approval by GameOn with respect to the listing of the common shares of GameOn (“GameOn Shares”) on the Canadian Securities Exchange (the “CSE”) and the receipt of a final prospectus in the Province of British Columbia in connection with the final prospectus of GameOn. If the Escrow Release Conditions are not satisfied by May 31, 2021, the proceeds of the SR Offering will be returned to the subscribers.
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