Good Gaming Announces $3.1 Million Private Placement Offering
November 12 2021 - 8:30AM
InvestorsHub NewsWire
Good Gaming Announces $3.1
Million Private Placement Offering
KENNETT SQUARE, PA -- November 12,
2021 -- InvestorsHub NewsWire -- Good Gaming, Inc. (OTCQB:
GMER), today announced that it has entered into a securities
purchase agreement with several institutional and accredited
investors for the purchase of 20,733,337 shares of its common stock
(or common stock equivalents in lieu thereof) and warrants to
purchase up to an aggregate of 20,733,337 shares of common stock,
in a private placement. The combined purchase price for one share
of common stock (or common stock equivalent) and a warrant to
purchase one share of common stock is $0.15. The warrants have an
exercise price of $0.20 per share, will be immediately exercisable
and will expire five and one-half years from the issuance
date.
H.C. Wainwright & Co. is acting
as the exclusive placement agent for the offering.
The gross proceeds from the private
placement offering are expected to be approximately $3.1 million.
The Company intends to use the net proceeds to expand and promote
Microbuddies as well as for working capital and general corporate
purposes. The offering is expected to close on or about November
16, 2021, subject to the satisfaction of customary closing
conditions.
The securities described above were
offered in a private placement under Section 4(a)(2) of the
Securities Act of 1933, as amended (the "Act") and Regulation D
promulgated thereunder, and have not been registered under the Act
or applicable state securities laws. Accordingly, the securities
may not be offered or sold in the United States except pursuant to
an effective registration statement or an applicable exemption from
the registration requirements of the Act and such applicable state
securities laws.
Under an agreement with the
investors, the Company is required to file an initial registration
statement with the Securities and Exchange Commission covering the
resale of the shares of common stock to be issued to the investors
and shares of common stock underlying the warrants described above
within 15 calendar days and to use its best efforts to have the
registration statement declared effective as promptly as practical
thereafter, and in any event no later than 90 days in the event of
a "full review" by the Securities and Exchange
Commission.
This press release does not
constitute an offer to sell or the solicitation of an offer to buy,
nor there any sales of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
About Good Gaming:
Good Gaming is an
innovative brand leading the gaming industry across multiple
segments in the space since 2008. Beginning with our roots as a
collaborative space for gamers to share their knowledge, we went on
to establish ourselves as one of the leaders in hosting Hearthstone
tournaments. In 2016, we expanded our reach to include establishing
multiple Minecraft servers with some of the most popular versions
of Prison and SkyBlock, then developing our completely
custom-developed NFT blockchain game, MicroBuddies™, in 2021. The
Good Gaming advantage comes from our development team's close
relationship with the player communities of all of our games. The
constant communication and resulting feedback further expand our
proprietary content, and we continue to be influencers in the
realm. Good Gaming continues to find exciting and innovative ways
to branch across the gaming industry. As a staff and community, our
goal is to cement our place as a fun and collaborative place for
ALL gamers to enjoy.
Safe Harbor:
This
release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Good Gaming Inc., its directors or its officers
with respect to, among other things: (i) statements relating to
Good Gaming Inc.'s expectations regarding the completion of the
private placement, potential gross proceeds from the private
placement, satisfaction of closing conditions and use of proceeds
therefrom; (ii) financing plans; (iii) trends affecting its
financial condition or results of operations; (iv) growth strategy
and operating strategy. The words "may," "would," "will," "expect,"
"estimate," "can," "believe," "potential," and similar expressions
and variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, many of which are beyond Good Gaming
Inc.'s ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors. More information about the
potential factors that could affect the business and financial
results is and will be included in Good Gaming, Inc.'s filings with
the Securities and Exchange Commission, including those set forth
as "Risk Factors" in such filings. These forward-looking
statements speak only as of the date hereof, and Good Gaming Inc.
disclaims any obligation to update these forward-looking
statements, except as required by law.
MEDIA
CONTACT:
Public Relations and
Shareholder Information:
Joseph M. Vazquez
III
Phone: (888)
245-3005
Email: infinityglobalconsulting@gmail.com
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