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TORONTO, November 7, 2020 (GLOBE NEWSWIRE) – Bragg Gaming Group (TSXV: BRAG, OTC: BRGGF) (“Bragg“or the”Company“) today provides information on its upcoming annual and extraordinary shareholders’ meeting (the”Meeting“), in response to public health and safety warnings relating to COVID-19. The Company also provides a corporate update that includes information on the extent and settlement of previously announced earnings.
Information on the shareholders’ meeting
The Company intends to hold the Meeting on November 27, 2020 at 10:00 am (Toronto time). In light of the impacts associated with the COVID-19 pandemic, and subject to restrictions on group meetings at the time of the Assembly, the Company plans to conduct its meeting both in person and via remote communication. The Company encourages shareholders and others not to attend the Meeting personally. The Company offers shareholders the opportunity to listen and participate (but not vote) in the Shareholders’ Meeting in real time by teleconference at the following coordinates:
1-800-901-0218 (toll free for North America) or 1-719-234-0223 (outside North America)
Guest passcode: 320 351 4218 #
In order to minimize the size of the group and comply with the social distancing rules, all shareholders are invited to vote on the matters prior to the Shareholders’ Meeting by proxy that can be submitted electronically, by post or by telephone as better described in the Company Management Information Circular dated October 29, 2020, no later than 10:00 am (Toronto time) November 25, 2020.
Since the situation relating to COVID-19 is rapidly evolving, the Company reserves the right to implement further precautionary measures relating to the Shareholders’ Meeting if deemed appropriate.
Oryx Earn-Out To update
The Company also announces today that, following its press release dated 30 September 2020, the second and final earn-out payment of € 22 million (approximately C $ 34,289,200) due to KAVO Holdings Limited, acting as seller (the “Oryx seller“), will be converted into ordinary shares of the Company (“Common Shares“) by January 31, 2021, at an estimated conversion price of C $ 0.73, equal to 47,000,000 ordinary shares. Satisfaction of the second and final earn-out payment is subject to certain conditions, including receipt of the approval of the disinterested shareholders for the creation of the Oryx The seller (and his associates and affiliates, including Matevž Mazij) as the “controlling person” of the Company, being a holder of more than 20% of the voting rights of the securities in circulation of the Company The Company intends to seek the approval of disinterested shareholders for the creation of Oryx Vendor as a “control person” at the Meeting.
About Bragg Gaming Group
Bragg Gaming Group Inc. is a next-generation gaming group with cutting-edge technology, leading brands and world-class management experience, which is developing into a global gaming force. Formed by a team of gaming industry experts, the main asset of Bragg’s portfolio is ORYX Gaming, an innovative business-to-business gaming technology platform and casino content aggregator.
Through this brand and targeted acquisitions, Bragg is focused on becoming a leader in the evolving global gaming industry. Learn more at https://www.bragg.games.
F.o Bragg Gaming Group, contact:
Yaniv Spielberg, CSO, Bragg Gaming Group
+ 1-647-800-2282
[email protected]
For investor inquiries, please contact:
Tim Dawson, Bragg Gaming Group
+ 1-289-276-1167
[email protected]
For inquiries from US investors, please contact:
Laine Yonker, Edison Group
+ 1-646-653-7035
[email protected]
Cautionary Statement Regarding Forward-Looking Information
This press release may contain forward-looking statements or “forward-looking information” within the meaning of applicable Canadian securities laws (“forward-looking statements”). Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “planned”, “estimates” , “foresees”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or a variation of those words and phrases or states that certain actions, events or results “may” , “could”, “would”, “could” or “will” will be taken, will occur or will be achieved.
All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those anticipated in these forward-looking statements. All forward-looking statements of the Company are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. While the Company believes these assumptions are reasonable, this list is not exhaustive of the factors that may affect forward-looking statements. Key assumptions that have been made in connection with the forward-looking statements include the following: the impact of COVID-19 on Bragg’s business; the countercyclical growth of Bragg’s business; the regulatory regime governing Bragg’s business; the operations of the Company; the Company’s products and services; Bragg’s clients; acquisition opportunities; the growth of Bragg’s business, which may not be achieved or realized within the indicated time frame or at all; and the expected size and / or revenue associated with the global gaming market.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or results to differ materially from any expressed or implied result, forecast, projection, forecast, performance or milestone. future forward-looking statements. These factors include, among others, the following: risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favorable terms; making growth estimates, income taxes and regulatory issues; Bragg’s ability to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodities and stock prices; the estimated size of the global gaming market; changes in customer demand; disruptions to our technology network, including computer systems and software; natural events such as bad weather, fires, floods and earthquakes; and risks related to health pandemics and the outbreak of communicable diseases, such as the current COVID-19 epidemic.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results to be not as expected, estimated or expected. . There is no guarantee that forward-looking statements will prove accurate, as actual results and future events could differ materially from those projected in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its regulatory service provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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