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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
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Gaming Corps games suite to roll out with betPawa, which operates in 12 African countries
Gaming Corps – a publicly-listed game development company based in Sweden – is to bring its premium games suite to more players across Africa after agreeing a partnership with betPawa.
More than 10 million Africans trust and use betPawa as their betting brand of choice, with the operator currently active in 12 countries across the continent. betPawa is on a mission to make betting friendly by providing 24-hour customer support, a user-friendly platform, the lowest minimum stakes and guaranteed and instant payments.
Players at betPawa will be able to enjoy Gaming Corps’ full portfolio of Crash, Mine, Table and Slot titles, as well as a certified Plinko. This will include recent smash hits such as RAMPAGE, Piggy Smash and Raging Zeus Mines, along with Gaming Corps’ renowned games series such as Jet Lucky and Coin Miner.
Gaming Corps is now able to offer more value to players following the launch of its Smash4Cash™ mechanic, which is designed to make the game experience even more unique and bring an even greater chance for players to make the most of bonus rounds.
Mats Lundin, Gaming Corps’ Director of Sales, said: “We are delighted to partner with betPawa; an operator that has established a reputation as a successful and trusted betting brand across Africa.
“This is a fantastic opportunity for us to bring our thrilling games to many more players across the continent, and I look forward to offering even more magnificent games to betPawa’s players as we continue to strengthen our portfolio. Our Smash4Cash™ mechanic is already helping us produce games full of even more excitement, and I’m sure that trend will continue.”
Spencer Okach betPawa said: “This partnership with Gaming Corps will allow us to further strengthen our casino offering, and we are very excited to give our players the chance to make the most of Gaming Corps’ first-class games suite.
“We are always looking for ways to make the gaming experience with betPawa even more memorable, and I’m sure Gaming Corps’ ever-expanding list of games will help us do that.”
The post Gaming Corps games suite to roll out with betPawa, which operates in 12 African countries appeared first on European Gaming Industry News.
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UK risks losing safer gambling leadership position – warns BetBlocker.org chief of partnerships
Pedro Romero, chief of partnerships at safer gambling software provider BetBlocker.org has highlighted the sense of insecurity among Research, Education and Treatment organisations arising from the publication of the UK Government’s White Paper on gambling reform.
Speaking following February’s edition of ICE where BetBlocker and US-based International Centre for Responsible Gambling (ICRG), shared a £41,000 pool which was provided by leading brands Light and Wonder, Flutter, Betsson Group, IGT, Novomatic, Neccton and Playtech Pedro Romero noted: “The main talking points at ICE 2024, particularly in relation to safer gambling, revolved around the publication of the White Paper which has caused so much anxiety.
“It’s concerning that many in the third sector feel alienated from critical conversations about the future of safer gambling and harm minimisation.
“The potential implications of this disconnect are significant, not just for the individuals and communities we serve, but for the UK’s reputation in the field.
“We must find a way to bridge this gap and work together to address the challenges ahead. Otherwise, I fear the UK risks losing its leadership position in advancing safer gambling practices.”
Regarding the £20,500 donation which was presented at ICE he added: “We have earmarked these funds with a dual purpose in mind. Primarily, it will assist with our running costs, which as a small charity is crucial for the sustainability of our operations.
“Additionally, we are excited about a very special project that we’re planning for ICE 2025 in Barcelona. Without giving too much away, it’s a development that aims to pay tribute to both Clarion and the city of Barcelona. We believe it will make a significant impact and we look forward to unveiling it.”
Romero spoke positively about the relocation to Barcelona stating: “ICE 2024 served as a fantastic farewell to London, marking the end of an era and the beginning of a new chapter in Barcelona.
“While there’s a certain sadness in leaving a city that has been such a great host, the move to Barcelona is an exciting development. It represents a fresh opportunity for ICE to be the global gaming hub in a vibrant, dynamic city. We are very much looking forward to what the future holds in this new location.”
The post UK risks losing safer gambling leadership position – warns BetBlocker.org chief of partnerships appeared first on European Gaming Industry News.
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The MeridianBet – Golden Matrix Transaction Secures Approval at GMGI Shareholder Assembly
The MeridianBet Group, Southeast Europe’s leading Business-to-Consumer (B2C) sports betting and gaming group, operating in multiple markets across Europe, Africa and Latin America, announced that the shareholders of Golden Matrix Group (GMG), a developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, have voted to approve the acquisition of MeridianBet.
Commenting on the merger Zoran Milosevic, Chief Executive Officer of MeridianBet Group, said: “Today marks a major milestone for MeridianBet and I am thrilled that the shareholders of Golden Matrix have overwhelmingly voted in favor of the acquisition of MeridianBet. By joining forces, we are not only expanding our reach but enhancing our ability to provide customers with a diverse and comprehensive offering whilst creating a leading global betting group. I look forward to announcing the completion of the deal in due course.”
The post The MeridianBet – Golden Matrix Transaction Secures Approval at GMGI Shareholder Assembly appeared first on European Gaming Industry News.
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