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Leading Esports Sportsbook and Media Company Rivalry Closes Oversubscribed US$22 Million Subscription Receipt Financing

Published

4 years ago

June 22, 2021

Next gen sports betting and media company Rivalry has now raised over US$40 Million in the last twelve months to support its rapid growth

TORONTO, June 22, 2021 (GLOBE NEWSWIRE) — PMML Corp. (the “Company”), the parent company of Rivalry Limited (“Rivalry”), an internationally regulated sports betting and media company, is pleased to announce that, on June 9, 2021, it completed an oversubscribed subscription receipt financing for gross proceeds of approximately US$22 million (the “Offering”). The Offering was co-led by Eight Capital and Cormark Securities Inc., with a syndicate of agents including Canaccord Genuity Corp. and M Partners Inc. Institutional investors from Canada, the United States, the European Union, and Australia participated in the Offering. The Company expects to use the proceeds from the Offering to fund Rivalry’s growth through hiring, country expansion, new product and media expansion.

“At Rivalry we are working to innovate the sports betting category for a new generation of consumers globally,” says Steven Salz, Co-Founder and CEO of Rivalry. “Since launch, our strategy has been to lead from the front with esports and gaming media as a brand, and pair that with a market-leading product built top to bottom in-house. Creating a brand that fans love and is organically a part of their respective community is critical, and the product must be innovative and original as well. We have been executing on this vision, delivering double digit month over month growth on average for more than two years, and are eager to begin deploying this new capital against our plans to materially enhance our output across all key pillars of the business.”

As a company founded and based in Canada, Rivalry is closely monitoring and preparing for the potential national legalization of single event sports betting, and obtaining an iGaming license in the province of Ontario. Rivalry is a proud member of the Toronto tech community, having built the foundation of its team with local talent. The Company intends to continue making Toronto home for its innovative product development and is excited by the prospect of offering its products to Canadians for the first time.

“Following significant growth in 2020 and Q1/21, this injection of new funding comes at a critical inflection point in the Company’s history,” continued Steven Salz. “To meet the rapid growth we are seeing within the business we are meaningfully scaling our team while simultaneously expanding into new markets, increasing our original product IP portfolio and materially enhancing the volume and production quality of our media arm. Combined with operational execution across all levels of the business, pending legalization of sports betting at home, and our intention to complete a public listing later this year, we are more excited than ever about what the future holds for Rivalry.”

Within 120 days following the June 9, 2021 closing of the Offering (the “Escrow Release Deadline”), the Company intends to file and obtain a receipt for a final prospectus (the “Qualifying Prospectus”) qualifying the securities issuable upon conversion of the subscription receipts (the “Underlying Shares”) and to obtain the conditional approval to list the Underlying Shares on a recognized public stock exchange (the “Exchange Approval”). The filing of, and receipt for the Qualifying Prospectus and the Exchange Approval must be satisfied prior to the Escrow Release Deadline in order for the net proceeds of the Offering to be released from escrow to the Company.

About PMML Corp. and Rivalry
Rivalry Limited, a wholly owned subsidiary of PMML Corp., is a leading sport betting and sports media property offering fully regulated online wagering on esports, traditional sports, and casinos for the next generation of bettors. Rivalry Limited currently holds an Isle of Man license, considered one of the premier online gambling jurisdictions. Based in Toronto, Rivalry operates a global team of nearly 70 staff and growing. Rivalry Limited was granted its Isle of Man license in early 2018, officially launching in August of that year, and the Company is currently in the process of obtaining multiple country licenses in parallel. The Company also has a variety of originally developed products, including Quest, a gamified on-site betting experience, and a growing suite of original casino games called Rushlane that offers both B2C and B2B opportunities.

Company Contact:
Steven Salz, CEO
[email protected]

Media Contact:
BRANDSTYLE COMMUNICATIONS
Kell Cholko / [email protected]
484.797.2014

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”), including but not limited to statements regarding the intended filing and timing of the Qualifying Prospectus and Exchange Approval, and the use of the net proceeds of the Offering if the foregoing are receipted and obtained, respectively, prior to the Escrow Release Deadline. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.

Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include: the ability for the Company to meet all securities regulatory and other stock exchange listing requirements in order to obtain a final receipt for the Qualifying Prospectus and Exchange Approval within the intended timeframe and prior to the Escrow Release Deadline, regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the e-sports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of e-sports and other betting products are not guaranteed; changes in public perception of the e-sports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash ﬂow from operations; operational risks; cybersecurity risks; the impact of the COVID-19 pandemic; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better ﬁnanced competitors; and general economic, market and business conditions.

No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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Kaizen Foundation partners with Ashoka to empower future social entrepreneurs

Published

8 hours ago

December 8, 2025

Adrienn Sarkany

kaizen-foundation-partners-with-ashoka-to-empower-future-social-entrepreneurs

Reading Time: 2 minutes

Kaizen Foundation, the Social Purpose Foundation funded exclusively by Kaizen Gaming, is partnering with Ashoka, one of the world’s leading organisations dedicated to social entrepreneurship, to support the next generation of social innovators and changemakers. Through this collaboration, the Kaizen Foundation will contribute to Ashoka’s global work and fund two outstanding new Ashoka Fellows – one in Portugal and one in Romania.

For more than 40 years, Ashoka has built and nurtured the largest network of social entrepreneurs in the world, with each Fellow committed to driving innovation and creating meaningful, long-term change. Addressing challenges such as poverty, access to healthcare and the development of inclusive public services, Ashoka fosters changemaking ecosystems through partnerships across education, civil society and business. Its youth initiatives promote empathy, co-creation and problem-solving as core skills to achieve system-level change.

Recent Fellows in Romania include Dorica Dan, who revolutionizes the field of care for rare disease patients, influencing national legislation to improve diagnosis and access to therapies. In Portugal, Celmira Macedo tackles barriers to education and health literacy and supports students with special needs, reaching over 100,000 people in 76 Portuguese cities.

Once identified and selected for Ashoka’s Global Fellowship, the two new entrepreneurs will be fully funded by the Kaizen Foundation and will join a vibrant global community of Fellows across 95 countries. In addition to supporting Ashoka’s backbone operations, the Kaizen Foundation will also support the Ashoka Fellowship offering for all current Fellows – a programme designed to sustain and strengthen the global, national and regional infrastructure that helps Fellows thrive, scale their impact and collaborate across borders.

Panos Konstantopoulos, President of the Kaizen Foundation, noted: “Real impact begins with people – those who dare to imagine better futures and work tirelessly to build them. Ashoka has created one of the strongest communities of changemakers worldwide. Supporting new Fellows in Portugal and Romania allows us to stand behind individuals who are addressing critical social challenges with courage and creativity. We’re honoured to help strengthen the communities they serve.”

David Bonbright, Member of the Global Leadership Group at Ashoka, commented: “We are delighted to welcome the Kaizen Foundation into Ashoka’s global community of partners. Their strong focus on innovation, technology and long-term social impact makes them a natural ally in our effort to build a world where everyone can be a changemaker. With their support, we will be able to identify and back outstanding entrepreneurs in Portugal and Romania, while also strengthening the support system that enables all our Fellows to collaborate, learn from one another and scale their impact.”

The post Kaizen Foundation partners with Ashoka to empower future social entrepreneurs appeared first on European Gaming Industry News.

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WEC25 in Kuala Lumpur Marks the Most Diverse MLBB Competition to Date

Published

9 hours ago

December 8, 2025

Adrienn Sarkany

wec25-in-kuala-lumpur-marks-the-most-diverse-mlbb-competition-to-date

Reading Time: 2 minutes

World Esports Championship (WEC25), which took place from 3–7 December in the heart of Kuala Lumpur, brings together the most diverse Mobile Legends: Bang Bang (MLBB) competition in the event’s history. This year’s edition stands as a major milestone for both IESF and MOONTON Games, strengthening MLBB’s position as a global esports phenomenon and a flagship title of the World Esports Championship.

The MLBB Open Tournament delivered an exceptional showcase of high-level competition, strategy, and international talent. Teams from around the world battled through a demanding series of matches, leading to a dominant 3–0 victory by Malaysia over Cambodia in the Grand Final. With this triumph, Malaysia secured its status as back-to-back WEC champions, reaffirming its position as one of the strongest MLBB nations in the world.

This year also marked a historic moment for the region, as Türkiye claimed third place, becoming the first European nation to win a medal in MLBB at the World Esports Championship.

The Grand Final was officially opened by distinguished guests: YAB Dato’ Seri Dr. Ahmad Zahid bin Hamidi, Deputy Prime Minister of Malaysia; YB Tuan Adam Adli bin Abd Halim, Deputy Minister of Youth and Sports; Mr. Vlad Marinescu, President of the International Esports Federation; and Mr. Muhammad Naim Al Amin, President of the Malaysia Esports Federation. Their presence underscored the national and international significance of this year’s competition. Their presence underscored the national and international significance of this year’s competition.

MLBB Tournament Medalists: Gold: Malaysia Silver: Cambodia Bronze: Turkiye

Indonesia Dominates MLBB Women’s Tournament with Back-to-Back Victory

The MLBB Women’s Tournament at WEC25 delivered another thrilling showcase of elite competition. Indonesia reaffirmed its dominance by claiming the championship for the second consecutive year, remaining undefeated throughout the tournament and demonstrating unmatched skill and teamwork.

The grand final pitted Indonesia against Cambodia, a remarkable team that had battled its way up from the lower bracket, seizing every opportunity to reach the final. Despite Cambodia’s impressive run and relentless efforts, Indonesia maintained its winning streak, solidifying their reputation as the powerhouse of women’s MLBB esports.

MLBB Women’s Tournament Medalists: Gold: Indonesia Silver: Cambodia Bronze: Egypt

The continued success of MLBB at the World Esports Championship reflects the strong partnership between IESF and MOONTON Games.

“WEC25 has set a new milestone for MLBB and for esports as a whole. Seeing teams from around the world compete at the highest level and witnessing Indonesia’s incredible back-to-back Women’s championship reminds us why we are committed to growing this community. Together with MOONTON Games, we are proud to bring fans and athletes an unforgettable experience and to continue expanding MLBB’s global presence,” said Igor Nedeski, IESF Esports Manager.

Ray Ng, Head of Ecosystem at MOONTON Games, added: “WEC25 represents something we have been building toward for years; the moment MLBB becomes a sport where representing your country matters as much as winning. This is what a mature, premier esports ecosystem looks like: diverse talent from across the globe, united by a shared stage where every match carries the weight of national pride. That is the future we are building at MOONTON Games, one where esports creates heroes who inspire nations.”

Together, we remain committed to providing more opportunities for athletes, expanding the reach of MLBB globally, and creating unforgettable moments for fans and players alike. WEC25 sets a new benchmark for excellence and inclusivity, and the partnership between IESF and MOONTON Games will continue to drive the growth of MLBB on the international stage.

The post WEC25 in Kuala Lumpur Marks the Most Diverse MLBB Competition to Date appeared first on European Gaming Industry News.

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Berriez and Games Global bring sweet slots magic

Published

3 days ago

December 5, 2025

Adrienn Sarkany

berriez-and-games-global-bring-sweet-slots-magic

Reading Time: 2 minutes

New online casino Berriez is offering players the chance to enjoy some of their favourite titles, having partnered with industry experts Games Global.

Berriez is the third brand launched by Ganadu Gaming, a new operator with its sights set on success in multiple markets worldwide. The team at Ganadu has recognised that a player-first casino must host the games preferred by new and experienced players alike, making a collaboration with Games Global an easy choice.

Unforgettable slots

Games Global has emerged as a leading provider of iGaming content in recent years, with a winning catalogue of both in-house and partner studio games. Legendary titles such as Immortal Romance, Area Link Piggy Bank, Wolf Blaze Gold Fortune Tower, the 9 Masks of Fire series and Ancient Fortunes: Zeus are just a few of the drawcards, with the Games Global team constantly introducing new games, themes and game mechanics to maximise player enjoyment.

The team at Ganadu Gaming considers Games Global titles a must-have games lobby addition, since this provider’s games are instantly recognisable across the iGaming world, showcasing the ingenuity that’s at work in modern game development.

Berriez online casino offers the very latest in online casino technology, with slick player interfaces, seamless gameplay and easy-to-navigate registration and deposit/withdrawal options.

Ganadu Gaming offers players peace of mind entertainment, with a licence from the Kahnawake Gaming Commission (KGC) and a reputable ISO 27001 certification. In Finland, Berriez is a Pay’n Play casino; players can use BankID for registration and verification, allowing them to start playing and withdrawing immediately. A variety of credit cards, e-Wallets and online banking options are available to players depending on their location.

Sven de Waard, Head of Casino at Ganadu Gaming, is positive about the collaboration: “We want players to be able to enjoy the games they know and love as well as try out new ones, so partnering with an industry leader like Games Global is an essential step in our journey at Berriez. Their designs, mechanics, graphics, bonus rounds, and reputation set the standard for iGaming excellence.”

Ganadu Gaming opened the doors to Berriez in December 2025, with the promise of more industry-challenging brands to come.

The post Berriez and Games Global bring sweet slots magic appeared first on European Gaming Industry News.