Bragg Gaming to accelerate expiry of 2020 warrants
2021-01-21 09:34 ET - News Release
Mr. Yaniv Spielberg reports
BRAGG ANNOUNCES NOTICE OF WARRANT ACCELERATION
Bragg Gaming Group Inc. has elected to exercise its right under the terms of a warrant indenture dated Nov. 18, 2020, governing the common share purchase warrants of the company issued on Nov. 18, 2020, to accelerate the expiry date of the warrants.
Pursuant to the Warrant Indenture, the Company may accelerate the expiry of these Warrants at any time prior to 4:30pm (Toronto time) on November 18, 2023 in the event the daily volume weighted average trading price of the common shares of the Company ("Common Shares") on the TSX Venture Exchange exceeds $1.50 for at least 10 consecutive trading days by providing written notice to the warrantholders (the "Acceleration Notice"). The Warrants will, unless exercised, expire on the 30th day after the Company provides the Acceleration Notice.
As of the close of markets on January 19, 2021, the volume weighted average trading price of the Common Shares had traded in excess of $1.50 for at least 10 consecutive trading days. Accordingly, Bragg has given notice to all registered warrant holders that the expiry date for the Warrants is accelerated to February 22, 2021.
As of January 20, 2021, a total of 14,516,702 Warrants have yet to be exercised. Each Warrant is exercisable to acquire one Common Share at an exercise price of $1.00. If all Warrants are exercised, proceeds to the Company will total $15,673,292.
About Bragg Gaming Group
Bragg Gaming Group Inc. (TSXV: BRAG, OTC: BRGGF) is a next generation gaming group with cutting-edge technology, leading brands and world-class management expertise, developing into a global gaming force. Formed by a team of gaming industry experts, Bragg's main portfolio is ORYX Gaming, an innovative B2B gaming technology platform and casino content aggregator.
Through this brand and targeted acquisitions, Bragg is focused on becoming a leader within the evolving global gaming industry. Learn more at bragg.games .
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