- Announced a non-brokered private placement consisting of the issuance of up to 5,555,555 units at a price of $0.18 per Unit for aggregate gross proceeds of $1,000,000
- Each Unit is comprised of one common share and one non-transferrable common share purchase warrant
VANCOUVER, BC , Jan. 13, 2021 – TGS Esports Inc. (” TGS ” or the ” Company “) (TSXV: TGS) (FRA: 5RH) is pleased to announce a non-brokered private placement (the ” Offering “) consisting of the issuance of up to 5,555,555 units (each, a ” Unit “) at a price of $0.18 per Unit for aggregate gross proceeds of $1,000,000 . Each Unit is comprised of one common share (each, a ” Share “) and one non-transferrable common share purchase warrant (each, a ” Warrant “). Each Warrant will entitle the holder thereof to acquire one Share (each, a ” Warrant Share “) at a price of $0.25 per Warrant Share for a period of two years from closing of the Offering, subject to acceleration in the event that the Shares trade at or above $0.40 for ten consecutive trading days.
The proceeds from the Offering are expected to be used for general working capital. Insiders of the Company are leading participation in the Offering. Finder’s fees may be payable in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the ” Exchange “).
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