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$TGS.ca Announces Upsizing of Strategic Financing to $2,000,000 Due to Strong Investor Demand $DKNG $PENN $GAN $ESPO $AESE $EGLX.ca $BRAG.ca $FDM.ca

Posted by AGORACOM-JC at 9:12 AM on Monday, January 18th, 2021
TGS Esports Announces Intent to Acquire Canadian Esports and Digital Media Startup, Volcanic Media
  • Announced that due to strong investor demand, it has increased the size of the non-brokered private placement announced on January 14, 2021
  • The Offering will now consist of the issuance of up to 11,111,111 units at a price of $0.18 per Unit for aggregate gross proceeds of $2,000,000
  • Each Unit is comprised of one common share and one non-transferrable common share purchase warrant

VANCOUVER, BC , Jan. 18, 2021 /- TGS Esports Inc. (” TGS ” or the ” Company “) (TSXV: TGS) (FRA: 5RH) is pleased to announce that due to strong investor demand, it has increased the size of the non-brokered private placement (the “Offering”) announced on January 14, 2021 . The Offering will now consist of the issuance of up to 11,111,111 units (each, a ” Unit “) at a price of $0.18 per Unit for aggregate gross proceeds of $2,000,000 .  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 “).

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange.

Read More: https://agoracom.com/ir/TGSESports/forums/discussion/topics/753255-tgs-announces-upsizing-of-strategic-financing-to-2-000-000-due-to-strong-investor-demand/messages/2298566#message

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