Rivalry Closes Non-Brokered Non-public Placement Of Roughly $2.0 Million

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TORONTO, Nov. 26, 2024 (GLOBE NEWSWIRE) — Rivalry Corp. (the “Firm” or “Rivalry“) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the main sportsbook and iGaming operator for digital-first gamers, is happy to announce that it has closed the preliminary tranche of a non-brokered personal placement of 12,930,707 models of the Firm (the “Models“), at a value of $0.15 per Unit, for mixture gross proceeds of roughly $1.94 million (the “Providing“).

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The Firm could full a number of further closings, for mixture gross proceeds (along with the proceeds raised beneath the preliminary closing) of as much as roughly USD$3 million. Until in any other case famous, all greenback figures are quoted in Canadian {dollars}.

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“This preliminary tranche of our non-brokered personal placement was primarily subscribed to by insiders, household and buddies, and long-term shareholders,” mentioned Steven Salz, Co-Founder and CEO of Rivalry. “This dedication and demonstration of assist is deeply gratifying as we press forward into a brand new chapter for the Firm.”

Every Unit is comprised of 1 (1) subordinate voting share within the capital of the Firm (every, a “Subordinate Voting Share“) and one-half of 1 (1/2) Subordinate Voting Share buy warrant (every complete warrant, a “Warrant“). Every Warrant is exercisable into one Subordinate Voting Share within the capital of the Firm (every, a “Warrant Share“) at a value of $0.25 per Warrant Share for a interval of 12 months from the date hereof, topic to the Firm’s proper to speed up the expiry date of the Warrants upon 30 days’ discover within the occasion that the closing value of the Subordinate Voting Shares is the same as or exceeds $0.50 on the TSX Enterprise Alternate (or such different acknowledged Canadian inventory alternate because the Subordinate Voting Shares are primarily traded on) for a interval of 10 consecutive buying and selling days.

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The Firm intends to make use of the proceeds from the Providing for company growth and normal working capital functions.

The Subordinate Voting Shares and Warrants, and any securities issuable upon train thereof, are topic to a four-month statutory maintain interval, in accordance with relevant securities laws.

The Firm has paid an mixture of $14,953.74 in finder’s charges in reference to the closing of the primary tranche of the Providing.

This information launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase nor shall there be any sale of any of the securities in any jurisdiction wherein such provide, solicitation or sale could be illegal. The securities haven’t been and won’t be registered beneath the US Securities Act of 1933, as amended (the “U.S. Securities Act“), or any relevant state securities legal guidelines and will not be supplied or bought inside the US until registered beneath the U.S. Securities Act and relevant state securities legal guidelines, or an exemption from such registration necessities is offered.

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1,333,300 Models have been issued to Steven Isenberg, a director of the Firm and a “associated social gathering” (inside the which means of Multilateral Instrument 61-101 – Safety of Minority Safety Holders in Particular Transactions (“MI 61-101“)) and such issuance is taken into account a “associated social gathering transaction” for the needs of MI 61-101. Such associated social gathering transaction is exempt from the formal valuation and minority shareholder approval necessities of MI 61-101 as neither the honest market worth of the securities being issued to the associated events nor the consideration being paid by the associated events exceeded 25% of the Firm’s market capitalization. The purchasers of the Models and the extent of such participation weren’t finalized till shortly previous to the completion of the Providing. Accordingly, it was not potential to publicly disclose particulars of the character and extent of associated social gathering participation within the transactions contemplated hereby pursuant to a cloth change report filed at the very least 21 days previous to the completion of such transactions.

About Rivalry

Rivalry Corp. wholly owns and operates Rivalry Restricted, a number one sport betting and media firm providing absolutely regulated on-line wagering on esports, conventional sports activities, and on line casino for the digital era. Based mostly in Toronto, Rivalry operates a worldwide group in additional than 20 nations and rising. Rivalry Restricted has held an Isle of Man license since 2018, thought of one of many premier on-line playing jurisdictions, in addition to an web gaming registration in Ontario, and is presently within the technique of acquiring further nation licenses. With world class artistic execution and model positioning in on-line tradition, a local crypto token, and demonstrated market management amongst digital-first customers Rivalry is shaping the way forward for on-line playing for a era born on the web.

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Firm Contact:
Steven Salz, Co-founder & CEO
ss@rivalry.com
416-565-4713

Investor Contact:
buyers@rivalry.com

Media Contact:
Cody Luongo, Head of Communications
cody@rivalry.com
203-947-1936

Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this press launch.

Cautionary Word Concerning Ahead-Trying Data and Statements
This information launch comprises sure forward-looking data inside the which means of relevant Canadian securities legal guidelines (“forward-looking statements”). All statements apart from statements of current or historic truth are forward-looking statements. Ahead-looking statements are sometimes, however not at all times, recognized by means of phrases equivalent to “anticipate”, “obtain”, “may”, “consider”, “plan”, “intend”, “goal”, “steady”, “ongoing”, “estimate”, “outlook”, “anticipate”, “venture” and comparable phrases, together with negatives thereof, suggesting future outcomes or that sure occasions or circumstances “could” or “will” happen. These statements are solely predictions.

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Ahead-looking statements are primarily based on the opinions and estimates of administration of the Firm on the date the statements are made primarily based on data then out there to the Firm. Numerous elements and assumptions are utilized in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Ahead-looking statements are topic to and contain a variety of identified and unknown, variables, dangers and uncertainties, lots of that are past the management of the Firm, which can trigger the Firm’s precise efficiency and outcomes to vary materially from any projections of future efficiency or outcomes expressed or implied by such forward-looking statements. Such elements, amongst different issues, embody regulatory or political change equivalent to modifications in relevant legal guidelines and rules; the power to acquire and keep required licenses; the esports and sports activities betting trade being a closely regulated trade; the complicated and evolving regulatory setting for the web gaming and on-line playing trade; the success of esports and different betting merchandise should not assured; modifications in public notion of the esports and on-line playing trade; failure to retain or add prospects; the Firm having a restricted working historical past; damaging money move from operations; operational dangers; cybersecurity dangers; reliance on administration; reliance on third events and third-party networks; alternate charge dangers; dangers associated to cryptocurrency transactions; threat of mental property infringement or invalid claims; the impact of capital market circumstances and different elements on capital availability; competitors, together with from extra established or higher financed opponents; and normal financial, market and enterprise circumstances. For added dangers, please see the Firm’s MD&A dated April 30, 2024 and different disclosure paperwork out there on SEDAR+ at www.sedarplus.ca.

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No assurance might be provided that the expectations mirrored in forward-looking statements will show to be appropriate. Though the forward-looking statements contained on this information launch are primarily based upon what administration of the Firm believes, or believed on the time, to be cheap assumptions, the Firm can not guarantee shareholders that precise outcomes will probably be per such forward-looking statements, as there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. Readers shouldn’t place undue reliance on the forward-looking statements and data contained on this information launch. The forward-looking data and forward-looking statements contained on this press launch are made as of the date of this press launch, and the Firm doesn’t undertake to replace any forward-looking data and/or forward-looking statements which might be contained or referenced herein, besides in accordance with relevant securities legal guidelines.

No inventory alternate, securities fee or different regulatory authority has accredited or disapproved the knowledge contained herein.

Supply: Rivalry Corp.

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