March 20, 2017 08:30 ET
LAS VEGAS, NEVADA--(Marketwired - March 20, 2017) - Millennial Esports Corp. ("Millennial Esports" or the "Company") (TSX VENTURE:GAME) is pleased to announce it has arranged a non-brokered private placement of up to 13,333,333 units (the "Units") at a price of $0.15 per Unit (the "Offering") for gross proceeds of up to $2,000,000. Each Unit will consist of one common share of the Company (a "Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.20 per share. In the event that the Company's shares trade at a closing price of greater than $0.40 per share for a period of 30 consecutive trading days at any time commencing 11 months after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by providing notice to the shareholders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.
The Offering is expected to close within the next two weeks. The net proceeds from the Offering will be used for general corporate purposes.
This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Millennial ESports Corp.:
The Company operates millennialesports.gg, an eSports platform and online community, which provides gamers with a variety of online competitions, leagues and ladders giving them an opportunity to win prizes and garner recognition within the global eSports community. In addition, the Company provides turnkey solutions to give game publishers, consumer brands and other partners exposure and influence on a targeted audience, thereby enabling them to generate new revenue streams by leveraging this unique and highly sought after global demographic.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Millennial Esports Corp.Alex IgelmanCEO647.firstname.lastname@example.orgPR InsidersSharie Johnson702.email@example.com
See all RSS Newsfeeds