VANCOUVER, Aug. 30, 2016 /CNW/ - Global Daily
Fantasy Sports Inc. (TSXV: DFS) ("Global") is pleased to
announce that further to Global's news release of July 26, 2016, Global has completed its
non-brokered private placement financing by issuing 15,000,000
units (the "Units") at a price of $0.40 per Unit, for gross proceeds of
$6,000,000. Each Unit consists of one
common share (a "Common Share") and one half transferable common
share purchase warrant (a "Warrant"). Each Warrant entitles
the holder to purchase one full Common Share at a purchase price of
$0.75 in the first year and
$1.00 in the second year. All
securities issued have a hold period expiring four months after
issue.
The net proceeds from this financing will be used for working
capital to allow Global to fund further development and marketing
of its daily fantasy sports product launch.
Finder's fees of $ 66,988.00 cash
and 167,471 common shares were issued to an arm's length party.
About Global Daily Fantasy Sports Inc.
Global Daily Fantasy Sports Inc. is a multi-tenant gateway that
allows operators to offer their customers a world class daily
fantasy sports software solution. Global's platform is built for
mobile and desktop applications that allow for seamless integration
at the operator level without having to share or compromise any
sensitive customer data. Joining the Global network allows
operators to capitalize on a mature infrastructure, with shared
liquidity, which was built specifically for regulated market
environments. As the first true B2B global network, Global is
a SaaS (software as a service) product that offers a turn-key
solution for sportsbook operators, land-based operators, media
groups, and big database groups to participate in the world of
daily fantasy sports. For more information on Global Daily
Fantasy Sports Inc. visit our corporate website:
www.GDFSI.com.
Global Daily Fantasy Sports Inc.
Per: "Darcy Krogh"
Darcy Krogh, President and
CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclaimer for Forward-Looking Statements
Certain information set forth in this news release contains
forward-looking statements or information ("forward-looking
statements"), including details about the proposed transactions. By
their nature, forward-looking statements are subject to numerous
risks and uncertainties, some of which are beyond the Company's
control, including the impact of general economic conditions,
industry conditions, currency fluctuations, operational
risks, competition from other industry participants, stock market
volatility, the risks that the parties will not proceed with the
proposed transactions, that the ultimate terms of the proposed
transaction will differ from those that currently are contemplated
and the ability to access sufficient capital from internal and
external sources. Although the Company believes that the
expectations in its forward-looking statements are reasonable, its
forward-looking statements have been based on factors and
assumptions concerning future events which may prove to be
inaccurate. Those factors and assumptions are based on the
currently available information. Such statements are subject to
known and unknown risks, uncertainties and other factors that could
influence actual results or events and cause actual results or
events to differ materially from those stated, anticipated or
implied in the forward-looking statements. Accordingly, readers are
cautioned not to place undue reliance on the forward-looking
statements, as no assurance can be provided as to future results,
levels of activity or achievements. Risks, uncertainties, material
assumptions and other factors that could affect actual results as
discussed in our public disclosure documents available at
www.sedar.com. Furthermore, the forward-looking
statements contained in this document are made as of the date of
this document and, except as required by applicable law, the
Company does not undertake any obligation to publicly update or to
revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise. The
forward-looking statements contained in this document are expressly
qualified by this cautionary statement.
SOURCE Global Daily Fantasy Sports Inc.
