Millennial Esports Corp. Closes $2 Million FinancingPicture Gallery, Software Monday, 10. April 2017
LAS VEGAS, NEVADA — (Marketwired) — 04/10/17 — Millennial Esports Corp. (“Millennial Esports” or the “Company”) (TSX VENTURE: GAME) is pleased to announce it has closed its previously announced non-brokered private placement of 13,333,333 units (the “Units”) at a price of $0.15 per Unit (the “Offering”) for gross proceeds of $2,000,000. Each Unit consists of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.20 per share. In the event that the Company–s shares trade at a closing price of greater than $0.40 per share for a period of 30 consecutive trading days at any time commencing 11 months after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by providing notice to the shareholders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.
All securities issued under the Offering are subject to a hold period of four months and one day from the closing of the Offering.
About Millennial Esports Corp.:
Millennial Esports Corp. owns and operates “thE Arena”, Las Vegas– first permanent eSports Arena and studio. “thE Arena” is a state of the art 15,000 square foot facility located on world famous Fremont Street, at the Neonopolis, in the heart of Downtown Las Vegas.
The Company operates millennialesports.gg, an Esports platform and online community, which provides gamers with a variety of online competitions, leagues and ladders, giving them an opportunity to win prizes and garner recognition within the global Esports community. In addition, the Company provides turnkey solutions to give game publishers, consumer brands and other partners exposure and influence on a targeted audience, thereby enabling them to generate new revenue streams by leveraging this unique and highly sought after global demographic.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Millennial Esports Corp.