DraftTeam Fantasy Sports Inc.
CNSX : DFS

DraftTeam Fantasy Sports Inc.

March 10, 2015 09:00 ET

Sabre Graphite Corp. and DraftTeam Fantasy Sports Inc. Announce Completion of Arrangement and Commencement of Trading as DraftTeam Daily Fantasy Sports Corp.

CALBARY, ALBERTA--(Marketwired - March 10, 2015) - Sabre Graphite Corp. ("Sabre" or the "Corporation") (TSX VENTURE:SAG) and DraftTeam Fantasy Sports Inc. ("DraftTeam") (CSE:DFS) are pleased to announce that they have completed the previously announced plan of arrangement (the "Transaction") pursuant to which Sabre has acquired all of the issued and outstanding common shares of DraftTeam ("DraftTeam Shares"). Under the terms of the Transaction, DraftTeam shareholders will receive 0.4667 of a common share of Sabre ("Sabre Share") for every one DraftTeam Share held. As a result of the Transaction, DraftTeam has become a wholly-owned subsidiary of Sabre.

Following the closing of the Transaction, Sabre will change its name to "DraftTeam Daily Fantasy Sports Corp." and expects to begin trading under its new symbol DTS on the TSX Venture Exchange ("TSXV") upon receipt of the final bulletin from the TSXV. There will be 42,529,161 common shares outstanding of the Corporation.

DraftTeam focuses on daily and weekly skill based fantasy sports games. DraftTeam has developed proprietary software which allows users to create fantasy teams from the player rosters of actual sports leagues and then use their teams to compete against other users in various categories such as points scored, yards gained, goals, assists or home runs registered, depending on the specific sport. The DraftTeam.com website currently offers daily and weekly skill based fantasy sports games for the four major sports in North America, which includes NFL, NBA, NHL and MLB. DraftTeam also offers a variety of entry fee contest options for its members to play, in addition to free roll tournaments to attract new members to the site. DraftTeam charges a management fee from all entry fees collected on the website.

If registered shareholders of DraftTeam have not already done so, they are encouraged to complete, execute and submit the letter of transmittal included in the meeting materials for previously sent to such shareholders as soon as possible and return same to Valiant Trust Company in order to receive the Sabre Shares to which they are entitled pursuant to the Transaction. Non-registered shareholders should contact their broker or other intermediary.

Effective March 9, 2015, the DraftTeam Shares have been delisted from the Canadian Securities Exchange, and applications will be made for DraftTeam to cease to be a reporting issuer in British Columbia and Ontario.

READER ADVISORIES

Forward-Looking Information - This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the Corporation's business activities and the timing of receipt of final approval of the TSXV. The forward-looking statements and information are based on certain key expectations and assumptions made by Sabre and DraftTeam, including the timing of receipt of regulatory approvals. Although Sabre and DraftTeam believe that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Sabre and DraftTeam can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: risks related to the ability to attract retail customers; changing consumer preferences; potential intellectual property rights claims; ability to access sufficient capital from internal and external source; failure to obtain required regulatory and other approvals; and changes in legislation. There are risks also inherent in the nature of the Transaction, including failure to realize anticipated synergies or cost savings; risks regarding the integration of the two entities; incorrect assessments of the values of the other entity; and failure to obtain the required regulatory and other third party approvals. Accordingly, readers should not place undue reliance on the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Corporation's operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). The forward-looking statements and information contained in this press release are made as of the date hereof and Sabre and DraftTeam undertake no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

NEITHER THE 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.

Contact Information

  • DraftTeam Daily Fantasy Sports Corp.
    David M. Antony
    Chief Executive Officer
    (403) 531-1710
    dave@draftteam.com