FansUnite Entertainment Inc. Announces $2 Million Private Placement Led by Tekkorp Capital
FansUnite Entertainment Inc. has announced a non-brokered private placement of units of the Company, valued at $2,000,000 (the “Offering”). The Offering comprises Units, priced at $0.08 per Unit. The Company intends to utilize the net proceeds from the Offering for general corporate working capital purposes.
Tekkorp Capital, a leading investment firm specializing in advising and investing in innovative public and private companies within the global digital gaming industry, has agreed to acquire 13,750,000 Units of the financing. Each Unit will consist of one Common Share and one Common Share purchase warrant of the Company. The Warrants will entitle the holder to purchase one Common Share at a price of $0.12 per Warrant Share for a period of 36 months after the closing date of the Offering.
The closing of the Offering may occur in one or more tranches, with the first tranche expected to close on or about March 9, 2023, and subsequent tranche(s) as may be agreed by the Company and the subscribers. Closing of the Offering is subject to receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange, and will occur within 45 days from the date hereof.
Prospective investors should read the offering document before making an investment decision, which is available on the Company’s profile at www.sedar.com and at https://fansunite.com/. The Company may increase the size of the Offering to the maximum amount permitted by the Listed Issuer Financing Exemption in the context of the market.