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Rivalry Corp. Shares Begin Trading on TSX Venture Exchange
TORONTO, Oct. 05, 2021 (GLOBE NEWSWIRE) — Rivalry Corp. (formerly, PMML Corp.) (the “Company” or “Rivalry”), an internationally-regulated sports betting and media company, is pleased to announce that its subordinate voting shares (the “Subordinate Shares”) will be listed and commence trading at market open today, October 5, 2021 on the TSX Venture Exchange (the “TSXV”) under the ticker symbol “RVLY.”
“Listing publicly on the TSXV marks the next major step in Rivalry’s journey. We are building the most comprehensive betting and entertainment experience for the next generation globally, and feel we are just getting started,” said Steven Salz, Co-Founder and CEO of Rivalry. “Our team is grateful for the support of all our early investors and we look forward to continued mutual success.”
Rivalry became a public company upon being issued a receipt for its final (long-form) prospectus dated September 17, 2021 and following the completion in June of an oversubscribed offering of subscription receipts for gross proceeds of approximately USD$22,000,000 (the “Offering”). The Offering was completed by a syndicate of agents co-led by Eight Capital and Cormark Securities Inc. together with Canaccord Genuity Corp and M Partners Inc.
Strategic Priorities
Rivalry is a fully regulated sports betting and sports media company operating globally where permitted. Focusing on esports, the Company has built Rivalry into the most engaged esports betting brand in the world1. With a wholly owned and internally developed proprietary tech stack, double digit month-over-month growth, and profitable customer unit economics, Rivalry is building the leading betting and entertainment destination for the next generation.
The Company plans to build on this momentum through execution on the following priorities:
- Leverage Rivalry’s strength in esports betting and strong engagement among the next generation to grow its traditional sports betting and casino games businesses.
- Increase its presence in regulated markets with an expected launch of sports betting in Australia in Q4 2021, anticipated license applications in Canada, beginning with Ontario, and earlier-stage new license processes in other major markets.
- Develop and introduce new products, such as innovative multiplayer casino games, based on the Company’s proprietary and highly scalable technology platform.
- Materially enhance the scope and scale of its media portfolio, including both social media properties and video content across various platforms in order to enhance the global brand resonance of Rivalry.
At the time of listing the Subordinate Shares on the TSXV, is it expected that Rivalry will have the following securities issued and outstanding:
- 53,225,498 Subordinate Shares
- 2,222,220 multiple voting shares
- 6,382,663 warrants to purchase Subordinate Shares
- 1,955,372 options to purchase Subordinate Shares (“Options”)
- 1,581,547 restricted share units (“RSUs”)
The securities set out above, include an aggregate of (a) 319,883 Options, 3,207,390 RSUs (of which 1,625,843 have since vested) and 2,346,288 restricted Subordinate Shares (1,292,830 of which are no longer subject to restriction) which were granted and ratified at the meeting of the shareholders of the Company held on September 20, 2021 (the “Meeting”) and which were issued pursuant to the Company’s equity incentive plan which authorizes the grant of awards exercisable for up to 7,438,574 Subordinate Shares as approved at the Meeting and described in the Company’s management information circular in respect of the Meeting; and (b) 222,220 RSUs granted by the board of directors of the Company on September 23, 2021.
At the time of listing, it is expected that approximately 23,075,624 of the Subordinate Voting Shares and all of the multiple voting shares will be subject to contractual lock ups with lock up periods ranging from 3 months to 2 years.
Investor Relations Services
The Company has contracted with Vincic Advisors to provide comprehensive investor relations and strategic communications services. Vincic Advisors has been retained for an initial 12-month term which may be extended by mutual agreement, for a monthly fee of $10,000. In addition, it is expected that Vincic Advisors will be granted 22,222 options to purchase Subordinate Shares following the commencement of trading and in accordance with the policies of the TSXV.
Vincic Advisors is a leading international consultancy focused on the delivery of investor relations, communications and capital markets outreach services. Founded in 2014, Vincic Advisors has helped clients from a broad cross section of industries navigate the nuances and complexities of capital markets communications. Based in Toronto, Vincic Advisors leverages the collective experience of its seasoned practitioners to provide bespoke solutions aimed at helping enhance long-term shareholder value for its clients.
Market Making Services
The Company has retained Venture Liquidity Providers Inc. (“VLP”) to initiate market-making services to aid in maintaining an orderly trading market and improving the liquidity of the Subordinate Shares. The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSXV and other applicable laws. For its services, the Company has agreed to pay VLP $5,000 per month for a period of 3 months and thereafter on a month to month basis. The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm’s length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer Co. Ltd. The fee paid by the Company to VLP is for services only. The agreement is subject to TSXV approval.
Further information on Rivalry can be found at https://rivalrycorp.com. Ongoing financial and disclosure documents can be found on SEDAR at www.sedar.com.
About Rivalry
Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media property offering fully regulated online wagering on esports, traditional sports, and casino for the next generation of bettors. Rivalry Limited currently holds an Isle of Man license, considered one of the premier online gambling jurisdictions. Based in Toronto, Rivalry operates a global team in more than 18 countries and growing. Rivalry Limited was granted its Isle of Man license in early 2018, officially launching in August of that year, and the Company is currently in the process of obtaining additional country licenses. The Company also has a variety of originally developed products, including Quest, a gamified on-site betting experience, and an original casino game called Rushlane that offers both B2C and B2B opportunities.
Company Contact:
Steven Salz, Co-Founder & CEO
[email protected]
Media Contact:
BRANDSTYLE COMMUNICATIONS
Kell Cholko I [email protected]
Investor Contact:
Vincic Advisors
Jeff Codispodi I [email protected]
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.
Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements, including with respect to the Company’s application for and ability to obtain new licences, development of products, the Company’s expansion prospects and the commencement of trading of the Subordinate Shares on the TSXV. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the e-sports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of e-sports and other betting products are not guaranteed; changes in public perception of the e-sports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; the impact of the COVID-19 pandemic; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s prospectus dated September 17, 2021 available on the Company’s SEDAR profile at www.sedar.com.
No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
1 Sources: Twitonomy, Social Blade, Rival IQ
We recently sat down with BetBrothers’ Head of Growth & Strategy, Borja Imbergamo, to talk about the company’s mission to become a global leader in regulated sports betting markets. He discusses the principles driving BetBrothers strategy, its unique value to players and operators, and what it takes to build a trusted affiliate brand in today’s market.
Could you please share a bit about your background and experience within the iGaming industry?
My journey in the iGaming industry began more than 11 years ago. I was one of the few professional bettors who successfully turned sports betting into a full-time career. Later, I became a professional tipster and in the meantime, 8 years ago, I had the opportunity to build one of the leading affiliate websites in Spain from the ground up.
During that project I was involved in every aspect of the business — from content creation, SEO, and marketing to sales, product development and team management. Being part of a small team meant I had to wear many hats, which I believe gave me a 360-degree understanding of the industry and the skills needed to launch and scale successful projects. As well as identify and manage the right people to make them happen.
Currently, as Head of Growth & Strategy at Betbrothers, I’m applying this experience to lead the expansion into more than 20 GEOs. I’m confident we’ll achieve this ambitious goal thanks to the strong and talented team we have built.
What’s Betbrother’s mission, and what sets it apart in the affiliate marketing landscape?
At Betbrothers, our priority is always the player. Our core mission is “Connecting Players with Safer Bets”. This means helping users enjoy sports betting as a form of entertainment — guiding them to bet responsibly, in ways that suit their style and preferences.
A key part of this is ensuring users are betting in safe and regulated environments. We are fully committed to working only with licensed operators, and we invest significant resources in matching users with the right bookmakers in each market. Ones that are compliant with local regulations.
We believe regulated markets, despite their limitations, offer the safest and most transparent experience for users. Through our content and platform, we aim to promote responsible gambling by helping users understand their options, set limits and stay in control of their behaviour. Ultimately, we see our role as both a guide and a safeguard — making the betting experience safer and more enjoyable.
BetBrothers is only partnering with operators holding licenses in regulated markets. What is the strategic reasoning behind this focus?
Our focus on regulated markets comes from user-centric philosophy. We want our users to enjoy sports betting in a safe, transparent and well-regulated way — even if sometimes it means fewer promotions or tighter restrictions. Licensed operators provide clear rules, secure transactions, and fair play. It leads to a much more positive user experience.
From a business perspective, partnering exclusively with regulated operators also ensures long-term sustainability. These operators have invested significant time and resources to obtain licenses, which means they are committed to the market and are here to stay. This gives us the confidence we need to build long term partnerships.
In short, working with licensed operators aligns with both our values and our strategic vision — promoting sports betting as a safe form of entertainment, while building a trustworthy and future-proof business.
From an operator’s perspective, what is the unique value that BetBrothers brings to the table?
First and most important: we bring high-quality, compliant traffic. Our strategy is heavily focused on organic acquisition, which we believe is the most valuable and sustainable traffic (and not only in iGaming). But we don’t just deliver volume. We are focused on providing users with the right content to help them make informed decisions — where, how and when to place their bets. This results in users who truly want to play with a specific operator. Players that are loyal, conscious of their choices, and more likely to stick around in the long term.
Additionally, we bring deep industry knowledge to the table. Our team has over 25 years of combined experience, allowing us to create content that is not only optimized and compliant, but also useful.
On top of that, we are building Betbrothers as a globally recognized and trusted brand. One that players all over the world can rely on. When users see an operator on our side, they’ll know it’s fully licensed, reputable and safe. Because we have done the due diligence for them already. That trust is a key part of the value we offer to both users and operators alike.
How Betbrothers is going to differentiate itself from competition in terms of content and product experience?
Our focus is — and always will be — the user. Every piece of content we produce is designed to deliver real value, helping users to make smarter betting decisions and improve their strategy. We know what players are looking for, how to speak their language, and how
to strike the right balance between honest, user-first content and effective promotion of trusted operators.
In an industry where a lot of the content is AI-generated and tailored primarily for Google, we are doing things differently. We are not writing for algorithms — we’re writing for people. Our editorial team is made up of experts with hands-on industry knowledge.
Another key differentiator is our approach to user-generated content. We want our platform to be a space where users share their opinions, voice their concerns, and help each other out. We see UGC as a way to create community, improve transparency, and provide even more value — with our team always there to guide and support where needed. We believe that strong content combined with smart, intuitive UX is the best strategy to grow organically and stand out in a crowded space.
What’s the long-term vision for BetBrothers when it comes to expanding into new markets?
Our long-term vision is to become the most trusted and recognizable brand in the world when it comes to regulated sports betting. We want users to know exactly what to expect when they visit Betbrothers: transparent information, responsible guidance and a curated list of fully licensed operators.
We are committed to expanding only into regulated jurisdictions, where we can guarantee a safe, legal and responsible betting experience for our users. We’re already active in focus markets such as Spain and Greece, along with a growing number of others across Europe and beyond. With more than 20 GEOs currently in progress, our goal is to establish a strong local presence wherever sports betting is legal and regulated. We want to become a regional authority in each market while maintaining the same standards of quality.
Looking ahead two to three years, what does success look like for BetBrothers?
In two to three years, success for Betbrothers means being the go-to platform for both users and operators. For users, we want to be the most trusted and reliable source of information about legal, regulated bookmakers. A place where they know they’ll find expert, honest and useful content to guide their betting decisions.
For operators, we aim to be the ideal long-term partner — providing high-quality, compliant traffic from engaged users across multiple markets. When an operator is looking for a partner they can trust, with a global footprint and a focus sustainability, we want Betbrothers to be the first name that comes to mind.
Beyond business success, our broader goal is to help push the industry in a more responsible, transparent direction. More and more countries are moving toward regulation and safer gambling practices. We want to be part of that transformation. To play a key role in building an industry that’s not just profitable, but also fair, honest and truly centered around the player.
The post Borja Imbergano, Betbrothers: “Our Priority is Always the Player” appeared first on European Gaming Industry News.
1. In an industry often driven by affiliate commissions, how do you personally define “trust”? Why do you believe it holds more long-term value than short-term revenue gains?
The best way to build trust with your audience is through a customer-centric approach. That means prioritizing accurate and honest reviews, rather than focusing purely on commercial interests. When visitors find the information, they’re looking for, you build customer loyalty. In the long run, loyalty creates far more value than quick gains from promoting questionable casino brands with flat fees and hybrid deals.
2. Given the financial incentives at play, how do you ensure your reviews remain truly objective and transparent?
Our casino reviews are always factually correct and honest, regardless of the commissions we are receiving. Our review criteria are available on our website, and our scoring system remains consistent, unaffected by affiliate partnerships. We clearly disclose that we use affiliate links but we always side with our visitors. That kind of transparency might not maximize revenue, but it builds trust and forges strong relationships with our players.
3. Have you ever had to reject or cut ties with a high-paying casino partner over ethical concerns? Can you walk us through one such decision?
Yes, that happens from time to time. We have a contact form on our website that allows players to contact us when they feel they are being treated unfairly. We received several complaints from players and escalated these to our partner. Upon doing some research we realized that other casino portals were reporting similar problems with this operator, which led to us updating our reviews and dropping them in our rankings.-
4. What are the key red flags you look for when evaluating whether or not to recommend a casino operator to your audience?
We always make sure that the casino operators we are listing are properly licensed and have a good reputation in the iGaming industry. Red flags are unfair bonus terms, missing translations, withdrawal issues, unprofessional customer support, and a lack of responsible gambling tools. If a casino operator has lots of unresolved complaints on Trustpilot or Casinomeister, we simply don’t promote them.
5. From your experience, how do players pick up on bias or manipulation in reviews — and what can platforms do to avoid giving that impression?
Players are much smarter today and exchange information on forums and in their circles. They are often seasoned and have played at online casinos for many years. They can spot inaccurate reviews right away and know exactly what they are looking for in a casino. Our reviews therefore always focus on the pros and cons, the bonus conditions and real expert experiences from hands-on testing of the casino.
6. Many affiliate sites claim to be “independent,” but not all deliver on that promise. What practical steps can review platforms take to actually earn user trust?
Be customer-centric and focus on user intent. Players visit your site to find out which casinos are reliable and trustworthy. Make sure your reviews are up to date and unbiased. Avoid promoting shady operators that could damage your reputation with your audience. To earn trust, you need to publish honest recommendations based on facts rather than sales pitches.
7. How do you collect, verify, and incorporate player feedback into your rating system?
We have a contact form on our site for player complaints, and we also make use of external sources such as forums and watchdog sites like Casinomeister, Trustpilot and Casino Guru. If we notice patterns related to specific casino groups or licenses, we incorporate a warning in our reviews as well. Player feedback is one of the most valuable tools we have to ensure our reviews are honest and reflect real user experiences.
8. Do licensing authorities and regulatory frameworks factor into your trust scores — or is your assessment more focused on real user experience?
Both matter, but reputation is most important. If a casino is not properly licensed, we will either choose not to list it or highlight the risks associated with an unlicensed casino in terms of player protection and payouts. However, we do list some casinos that operate under a weaker license when we know from previous experience that they are overall reliable and trustworthy.
9. With the rise of AI-generated content and fake reviews, how can affiliate sites protect their authenticity and credibility at scale?
All our reviews are produced in-house by real casino experts who have been working in the iGaming industry for many years. We test casinos ourselves and focus on detailed reviews based on real-life experiences and industry knowledge. While we use AI for
mundane tasks like spell-checking, we believe AI-generated reviews ultimately represent fake experiences and do not reflect the unbiased expert opinions and recommendations that players deserve.
10. Looking to the future, do you see reputation becoming a key differentiator among affiliates? If so, how will users — and partners — measure that reputation?
As the market matures, users are choosing review sites based on their interests, honesty, and reputation. These signals are picked up by Google and will directly impact your rankings. Users will look at how sites respond to user complaints, how accurate their reviews are, and whether they truly advocate for casino players. The affiliates that focus on credibility will be the preferred choice for players who are searching for real reviews from industry experts.
The post Topic: ROnline Casino : Why Trust is the Real Currency in Online Casino Reviews appeared first on European Gaming Industry News.
Latest News
USDT Casino Launches Industry-First ‘Sunday Brunch Free Spins’ with Zero Wagering Requirements
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The post USDT Casino Launches Industry-First ‘Sunday Brunch Free Spins’ with Zero Wagering Requirements appeared first on European Gaming Industry News.
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