ST. MARY'S, ANTIGUA--(Marketwired - Feb 6, 2017) - VGambling Inc. ("VGambling" or the "Company") (OTCQB: GMBL), a licensed online gambling company with a specific focus on eSports wagering, announced today that it has executed a term sheet for its $850,000 Bridge Round financing. The Financing, available exclusively through Denver, CO-based First Capital Ventures ("First Capital") is intended to complete the Company's disruptive peer-to-peer eSports wagering platform and launch its eSports websites. The Financing is expected to be completed within the next 30-45 days, with the first significant traunch expected on or before February 15.
"Fortune Magazine has reported that the eSports fan base will outstrip the NFL in 2017, while Forbes projects that fans of eSports fans will wager $23 billion by 2020," stated Gary Graham, President & CEO of First Capital. "Yet traditional betting sites employ a sports book model that is fundamentally ill-suited to eSports. VGambling will be the first to offer a peer-to-peer wagering model dedicated to eSports, and it will be the only site to cover all 5,600 pro tournaments each year (existing sites cover approximately 50 or fewer). And perhaps most important to investors, VGambling is currently the ONLY public vehicle for participating in the global eSports phenomenon. We believe that VGambling is an optimal eSports entry point."
Grant Johnson, President & CEO of VGambling, stated, "We are excited to have secured this financing committment from First Capital Ventures. The eSports industry is accelerating at a phenomenal rate and this financing brings us materially closer to the completion of our eSports wagering platform and launch of our global scale marketing programs."
About First Capital Ventures, LLC (www.firstcapitalventures.com)
Founded in 2005, First Capital helps entrepreneurs realize their disruptive solution's true potential, while taking an active approach to shareholder value creation. Our team of senior-level leaders has over 200 years of combined business expertise, and not all as corporate stuffed shirts - each of us has deep experience on the other side of the table, starting, growing and exiting our own small businesses. It is this unique dual perspective that makes First Capital the ideal platform for both business creation and investment appreciation. As your guides to growth we navigate new and emerging markets on your behalf, and chart (and help execute) a route to shared success.
About VGambling (www.vgambling.net)
VGambling Inc. is a next generation online gambling company specifically focused on eSports. VGambling intends to offer wagering on eSports events on a fully licensed, regulated and secured platform to the global eSports audience, excluding the United States. In addition, VGambling intends to offer users from around the world the ability to participate in multi-player video games tournaments online for cash prizes.
VGambling is led by a team of industry and technical experts from the eSports, online gambling and video game industries. The Company maintains offices in St. Mary's, Antigua and Barbuda. VGambling's common stock is listed on the OTCQB under the symbol GMBL.
About VGambling Licensing, Compliance And Regulatory Process
1. VGambling has entered into a Betting Gaming Platform Software Agreement with Swiss Interactive Software GmbH to provide wagering platform software.
2. VGambling has an agreement with CAMS, LLC to provide global electronic payment and risk management solutions.
3. VGambling has agreed to integrate the award-winning affiliate management platform of Income Access to manage the Company's forthcoming affiliate program.
Our Online Investor Relations Community at http://agoracom.com/ir/VGambling provides shareholders with the ability to interact with Investor Relations and fellow shareholders in a moderated environment.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.