Proactive Investors - Run By Investors For Investors

Bragg Gaming to distribute 27.05M units in connection with private placement

It has obtained a receipt from the three securities regulatory authorities qualifying the distribution of 27,058,802 units
A gaming table
The vision of Bragg Gaming is to shift away from Breaking Data’s focus on tech and AI to gaming and media

Bragg Gaming Group Inc (TSXV:BRAG) announced Thursday that it has received the green light to distribute 27,058,802 units from securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario.

In a statement, the company said it had filed a short form prospectus in the three provinces and obtained a receipt from them, qualifying the distribution of the units, which are issuable on the exercise of 27,058,802 equity special warrants previously issued in December last year in a private placement.

Each unit is comprised of one common share of the company and one common share purchase warrant, with each warrant exercisable as a common share at a price of $0.76 per share at any time on or before November 29, 2020.

DEEP DIVE: Bragg Gaming moves chips to wager on US and sports betting

The prospectus also notes the distribution of 1,601,784 compensation options issuable upon exercise of 1,601,784 special warrant compensation options issued to Eight Capital, Canaccord Genuity Corp and Haywood Securities Inc as partial consideration for their services rendered in connection with the offering. Each compensation option is exercisable into a unit at an exercise price of $0.51 per unit until November 29, 2020.

The Bragg Gaming Group is a reincarnation of a gambling company called Breaking Data and debuted on the TSX Venture Exchange under the current name Bragg in December 2018.

It has three core businesses: Oryx, an online casino technology group; GiveMeSport, a sports-focused media company and Facebook’s (NASDAQ:FB) largest sports publisher with more than 26 million fans; as well as GiveMeBet, a new online sports betting brand and casino site that aims to draw viewers from GiveMeSport.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 

View full BRAG profile View Profile

Bragg Gaming Group Timeline

Related Articles

immotion vr racing game
February 06 2019
The out-of-home VR hardware and content maker turned over more than £1mln in the second half of 2018 with ‘only’ 150 or so headsets in operation, but it wants that figure to climb to over 1,000 by the end of this year
1558424010_HAZER-header-edit.jpg
May 21 2019
Hazer Group is the first listed Australian company to produce clean hydrogen.
An armour plate based on XTclave technology
April 28 2019
The upper limit of the defence supplier’s guidance this half-year is $21.6 million.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use