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Rivalry of leading esports sports betting and media companies ends

By on June 22, 2021 0


TORONTO, June 22, 2021 (GLOBE NEWSWIRE) – PMML Corp. (the “Company”), the parent company of Rivalry Limited (“Rivalry”), an internationally regulated sports betting and media company, is pleased to announce that, on June 9, 2021, it has completed an oversubscribed subscription receipt financing for gross proceeds of approximately US $ 22 million (the “Offer”). The placement was co-led by Eight Capital and Cormark Securities Inc., with a syndicate of agents including Canaccord Genuity Corp. and M Partners Inc. Institutional investors from Canada, the United States, the European Union and Australia participated in the placement. The Company intends to use the proceeds of the Offering to finance the growth of Rivalry through hiring, country expansion, new product expansion and media.

“At Rivalry, we are working to innovate the sports betting category for a new generation of consumers globally,” said Steven Salz, co-founder and CEO of Rivalry. “Since launch, our strategy has been to take the lead with eSport and gaming media as a brand, and pair it with a market-leading product built from top to bottom in-house. Creating a brand that fans love and that is a natural part of their respective communities is essential, and the product must also be innovative and original. We have implemented this vision, generating double-digit monthly growth on average for over two years, and look forward to starting to deploy this new capital as part of our plans to significantly improve our production in all key pillars. of the company. “

As a company founded and based in Canada, Rivalry is closely monitoring and preparing for the potential national legalization of single event sports betting and obtaining an iGaming license in the province of Ontario. Rivalry is a proud member of Toronto’s tech community, having built the foundation of his team with local talent. The Company intends to continue to make Toronto the home of its innovative product development and is excited about the prospect of bringing its products to Canadians for the first time.

“After significant growth in 2020 and in Q1 / 21, this injection of new financing comes at a critical moment in the history of the Company,” continued Steven Salz. “To respond to the rapid growth we are seeing within the business, we are significantly expanding our team while simultaneously expanding into new markets, increasing our original product IP portfolio and dramatically improving volume. and the production quality of our media branch. Combined with operational execution at all levels of the business, pending legalization of home sports betting and our intention to complete a public list later this year, we are more excited than ever about what the future holds. at Rivalry.

Within 120 days of the closing of the Offer on June 9, 2021 (the “Escrow Release Deadline”), the Company intends to file and obtain a visa for a final prospectus (the “ Qualifying prospectus ”) qualifying the securities that may be issued upon conversion of the subscription receipt (the“ Underlying Shares ”) and obtaining conditional approval to list the Underlying Shares on a stock exchange. recognized public sector (the “Stock Exchange Approval”). Filing and receipt of the eligibility prospectus and exchange approval must be satisfied before the escrow release deadline in order for the net proceeds of the offer to be released from escrow to the Company. .

About PMML Corp. and Rivalry
Rivalry Limited, a wholly owned subsidiary of PMML Corp., is a leading sports betting and sports media property offering fully regulated online betting on esports, traditional sports and casinos for the next generation. of punters. Rivalry Limited currently holds a license from the Isle of Man which is considered one of the leading online gambling jurisdictions. Based in Toronto, Rivalry operates a growing global team of nearly 70 employees. Rivalry Limited was licensed for the Isle of Man in early 2018, with an official launch in August of the same year, and the company is currently in the process of securing licenses in several countries in parallel. The Company also offers a variety of originally developed products, including Quest, an on-site gamified betting experience, and a growing suite of original casino games called Rushlane that provides B2C and B2B opportunities.

Company details :
Steven Salz, CEO
[email protected]

Media contact:
BRAND STYLE COMMUNICATION
Kell Cholko / [email protected]
484.797.2014

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This press release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”), including, but not limited to, statements regarding the expected filing and timing of the qualifying prospectus and exchange approval, and the use of the net proceeds of the offering if the foregoing is received and obtained, respectively, before the escrow release deadline. 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” , “Continue”, “in progress”, “estimate”, “prospect”, “expect”, “project” and similar words, including their negative aspects, suggesting future results or that certain events or conditions “could Or “would occur”. These statements are only predictions.

Forward-looking statements are based on the opinions and estimates of management of the company on the date on which the declarations are made on the basis of the information then available for the company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set forth in forward-looking statements. 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 can cause of the society actual performance and results differ materially from any projection of future performance or results expressed or implied by such forward-looking statements. These factors, among others, include: the Company’s ability to meet all securities regulatory and other listing requirements in order to obtain a final receipt for the qualifying prospectus and approval of the stock exchange within the specified time frame and before the escrow release deadline, regulatory or policy changes such as changes in applicable laws and regulations; the ability to obtain and retain the required licenses; the electronic sports and sports betting industry being a highly regulated industry; the complex and evolving regulatory environment of the online gaming and online gambling industry; the success of e-sports and other betting products is not guaranteed; changes in public perception of the electronic sports and online gambling industry; the inability to retain or add customers; the Company having a limited operating history; negative operating cash flow; operational risks; cybersecurity risks; the impact of the COVID-19 pandemic; dependence on management; the use of third parties and third party networks; currency risks; risks associated with cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on the availability of capital; competition, including from more established or better funded competitors; and general economic, market and business conditions.

No assurance can be given that the expectations reflected in the forward-looking statements will prove to be correct. Although the forward-looking statements contained in this press release are based on what the 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 these. forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or expected. Readers should not place undue reliance on the forward-looking statements and information contained in this press release. The 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 statements contained therein or referenced, except in accordance with securities laws. applicable.

No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained in this document.



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