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Rivalry Closes Non-Brokered Private Placement Of Approximately $2.0 Million
Rivalry Corp. (the “Company” or “Rivalry“) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, is pleased to announce that it has closed the initial tranche of a non-brokered private placement of 12,930,707 units of the Company (the “Units“), at a price of $0.15 per Unit, for aggregate gross proceeds of approximately $1.94 million (the “Offering“).
The Company may complete one or more additional closings, for aggregate gross proceeds (together with the proceeds raised under the initial closing) of up to approximately USD$3 million. Unless otherwise noted, all dollar figures are quoted in Canadian dollars.
“This initial tranche of our non-brokered private placement was primarily subscribed to by insiders, family and friends, and long-term shareholders,” said Steven Salz, Co-Founder and CEO of Rivalry. “This commitment and demonstration of support is deeply gratifying as we press ahead into a new chapter for the Company.”
Each Unit is comprised of one (1) subordinate voting share in the capital of the Company (each, a “Subordinate Voting Share“) and one-half of one (1/2) Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant is exercisable into one Subordinate Voting Share in the capital of the Company (each, a “Warrant Share“) at a price of $0.25 per Warrant Share for a period of 12 months from the date hereof, subject to the Company’s right to accelerate the expiry date of the Warrants upon 30 days’ notice in the event that the closing price of the Subordinate Voting Shares is equal to or exceeds $0.50 on the TSX Venture Exchange (or such other recognized Canadian stock exchange as the Subordinate Voting Shares are primarily traded on) for a period of 10 consecutive trading days.
The Company intends to use the proceeds from the Offering for corporate development and general working capital purposes.
The Subordinate Voting Shares and Warrants, and any securities issuable upon exercise thereof, are subject to a four-month statutory hold period, in accordance with applicable securities legislation.
The Company has paid an aggregate of $14,953.74 in finder’s fees in connection with the closing of the first tranche of the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any applicable state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.
1,333,300 Units were issued to Steven Isenberg, a director of the Company and a “related party” (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“)) and such issuance is considered a “related party transaction” for the purposes of MI 61-101. Such related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the Company’s market capitalization. The purchasers of the Units and the extent of such participation were not finalized until shortly prior to the completion of the Offering. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the transactions contemplated hereby pursuant to a material change report filed at least 21 days prior to the completion of such transactions.
Sponsorship deal announced ahead of headline Dillian Whyte bout in Saudi Arabia
Bet9ja – Nigeria’s leading sportsbook, powered by Logifuture – has announced a partnership with heavyweight boxing sensation Moses Itauma.
Itauma, a 20-year-old British fighter of Nigerian descent, has rapidly become one of boxing’s most compelling figures, with an unbeaten professional record, having stopped 10 of his 12 opponents since turning professional in 2023.
The sponsorship deal comes as Itauma prepares for the biggest fight of his career – against Britain’s Dillian Whyte in a headline bout in Saudi Arabia on Saturday (August 16).
Bet9ja’s logo will be prominently displayed on Itauma’s training gear, as well as his ringside team’s clothing during fights. He is also contributing to a series of videos and digital content that fans will enjoy via Bet9ja’s social channels.
For Bet9ja, this sponsorship reflects their deep commitment to supporting Nigerian excellence in sports. As Nigeria’s number one sportsbook, Bet9ja, with Logifuture’s cutting-edge technology and marketing power behind it, continues to push boundaries.
Earlier this year, Bet9ja announced its renewed support for Nigeria national football team’s “Let’s Do It Again” campaign in the build up to the 2025 Africa Cup of Nations.
Bet9ja is powered by Logifuture, a leading provider of iGaming products, including Simulate and Zoom Soccer – flagship virtual sports titles that are transforming the way sports fans engage with their favourite sports, while providing increased revenues and consistent margins for operators.
Itauma said: “I’m delighted to be working with Bet9ja as I prepare for the biggest fight of my career so far. My Nigerian heritage and family have always been a source of pride, and this partnership is a powerful connection to my roots. I look forward to bringing my championship belts back to my father’s homeland.”
Logifuture Head of Content and Social Media Tom Beck said: “Moses Itauma is one of the most exciting young talents in global boxing.
“Moses has spoken about the strength he draws from his Nigerian roots and that makes him a natural fit for Bet9ja. For fans, he represents something special; a proud symbol of Nigerian toughness, talent and ambition on the global stage.
“Supporting his success means a lot to Logifuture and Bet9ja, and even more to our audience. We are looking forward to helping to share his journey with fans by providing exclusive access and behind-the-scenes content as he continues to build his reputation as one of the most explosive young fighters on the planet.”
Ayo Ojuroye, CEO of Bet9ja, said: “We’re incredibly excited to welcome Moses Itauma to the Bet9ja family. Moses embodies the spirit of resilience, power, and relentless pursuit of greatness that we champion. His Nigerian roots and global ambition make him a perfect fit for Bet9ja’s vision of empowering champions and delivering world-class player experiences. Partnering with Logifuture, we continue to elevate the standards of engagement in Nigerian sports.”
The post Logifuture-powered Bet9ja partners with heavyweight boxing sensation Moses Itauma appeared first on European Gaming Industry News.
Betano and Sporting Clube de Portugal have renewed their partnership for an additional four seasons, extending the relationship between the two brands until the end of the 2028/29 season. A sponsor of “the Lions” since 2021, Betano — the premium sports betting and online gaming brand of Kaizen Gaming — will continue to support the Alvalade club as the Main Sponsor.
The renewed agreement covers both the First Team and the B Team, which currently competes in the second league, with Betano maintaining prominent branding on the front of both teams’ official shirts.
“We are very pleased. This renewal is the reward for a successful investment by both parties in the excellent relationship we’ve established over the past four years. We began our partnership with Betano as Champions and now we renew it as back-to-back Champions. With that in mind, I believe the conditions are ideal for continued success over the next four years,” adds André Bernardo, Chief Strategy and Operations Officer of Sporting Clube de Portugal.
“We are truly delighted to extend our partnership with Sporting Clube de Portugal. Over the past few years, we have built a strong relationship founded on trust and shared ambition. This partnership has also coincided with a remarkable period in the club’s history, as Sporting has secured back-to-back Portuguese league titles, as well as a Portuguese cup triumph. This renewal reflects the mutual success and confidence that defines our collaboration, and reinforces our commitment to Portuguese sport, its fans, and to delivering a safe, innovative, and responsible betting experience,” says Julio Iglesias, Chief Commercial Officer at Kaizen Gaming.
The new agreement also includes a wide range of joint activations and fan-focused initiatives, further strengthening the bond between the brand and the Sporting universe over the next four seasons.
The post BETANO AND SPORTING CP RENEW PARTNERSHIP UNTIL 2029 appeared first on European Gaming Industry News.
Australia
BMM Testlabs Brings Global Compliance Expertise to Australasian Gaming Expo in Sydney This Week
BMM Testlabs, the world’s original gaming test lab and product certification consultancy, today announced that it is exhibiting at the Australasian Gaming Expo (AGE) this week, August 12-14, at the ICC Sydney.
BMM will welcome attendees at Stand No. 331 to showcase its industry-leading suite of product compliance testing services, quality assurance testing services, and cybersecurity protection solutions tailored to the Australasian gaming market.
With over four decades of global expertise and strong roots founded in Australia, BMM continues to deliver local insight with global reach, supporting suppliers with land-based and digital product compliance solutions
BMM’s President of Land-Based Gaming & Inspections Kirk White said, “At BMM, we’re proud to combine local knowledge with global strength. Our Australasian teams understand the unique regulatory and market challenges across the region, and we work closely to deliver testing and certification services that go beyond compliance; we help power suppliers’ growth and protect their brand.”
White added, “There’s a reason we are the No. 1 lab in Australia and Asia. We were founded in Australia and have been a resource to the region’s suppliers, operators, and regulators for over 44 years. We have played an important role in Australasia’s growth in its established land-based markets, evolving digital markets, and emerging new markets like the Philippines, Thailand, Vietnam, Cambodia, and India.”
BMM’s experienced teams across Australasia, with offices in Melbourne and Sydney, Australia, as well as Macau, Singapore, and India, are the trusted testing partner of choice in this expansive region. The Company’s expertise spans land-based platforms, games, and systems; lottery testing; and the full spectrum of digital gaming, including iGaming, sports betting, iLottery, and mobile.
The post BMM Testlabs Brings Global Compliance Expertise to Australasian Gaming Expo in Sydney This Week appeared first on European Gaming Industry News.
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