Playgon Games (TSX.V: DEAL) (OTCQB: PLGNF) (FRA:7CR), a propriety software-as-a-service (“SaaS”) technology company delivering mobile live dealer technology to online gaming operators globally, has announced that, further to its Oct. 28 and Nov. 3 news releases, it intends to upsize its previously announced non-brokered private placement (the “proposed offering”) of units of the company. According to the update, the upsized proposed offering is expected to be for gross proceeds of up to $9,000,000 through the sale of up to 30,000,000 units, each at a price of $0.30. Each unit will be comprised of one common share of the company and one half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one common share, each at a price of $0.50, for a period of 24 months from the closing date of the proposed offering. Playgon Games intends to use any net proceeds from the proposed offering to help fund (a) sales and marketing programs for global expansion, (b) additional software engineering, product design, customer support and team leadership, (c) increase IT infrastructure, (d) increase dealer staff and support staff, (e) new studio locations, (f) U.S. strategic initiatives including corporate licensing and certification, and (g) general working capital and corporate purposes. Subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and other customary conditions, the proposed offering is expected to close on or about Nov. 9, 2021.
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About Playgon Games Inc.
Playgon Games is a SaaS technology company focused on developing and licensing digital content for the growing iGaming market. The company provides a multi-tenant gateway that allows online operators the ability to offer their customers innovative iGaming software solutions. Its current software platform includes Live Dealer Casino, E-Table games and Daily Fantasy Sports, which, through a seamless integration at the operator level, allows customer access without having to share or compromise any sensitive customer data. As a true business-to-business digital content provider, the company’s products are ideal turn-key solutions for online casinos, sportsbook operators, land-based operators, media groups, and big database companies. For further information, please visit the company’s website at www.Playgon.com.
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