/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Sept. 18, 2020 /CNW/ - Score Media and Gaming
Inc. (TSX: SCR) ("theScore" or "the Company"), has announced
that the underwriters of its previously announced bought deal
offering via short-form prospectus (the "Offering")
partially exercised their over-allotment option, resulting in the
issue of an additional 960,600 Class A Subordinate Voting Shares
("Class A Shares") of the Company at a price of $0.65 per Class A Share. The exercise of the
over-allotment option brings the total gross proceeds of the
Offering to $25,649,390 through the
issue of an aggregate of 39,460,600 Class A Shares (the "Offered
Shares"). Canaccord Genuity Corp. and Eight Capital acted as
lead underwriters for the Offering on behalf of a syndicate of
underwriters which also included Cormark Securities Inc., INFOR
Financial Inc. and Scotia Capital Inc.
The net proceeds from the Offering will be used to fund working
capital and other general corporate purposes, including the
continued growth and expansion of theScore Bet's operations in
the United States and Canada by supporting the multi-jurisdiction
deployment and operation of theScore Bet and user acquisition and
retention in jurisdictions where the Company is, or will be,
operating.
The Offered Shares 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 state securities laws.
Accordingly, the Offered Shares may not be offered or sold within
the United States, its territories
or possessions, any state of the United
States or the District of
Columbia (collectively, the "United States") except in transactions
exempt from the registration requirements of the U.S. Securities
Act and applicable state securities laws. This press release does
not constitute an offer to sell or a solicitation of an offer to
buy any Offered Shares within the United
States.
Neither the Toronto Stock Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX) accepts responsibility for the adequacy or accuracy of this
release.
About Score Media and Gaming Inc.
Score Media and Gaming Inc. empowers millions of sports
fans through its digital media and sports betting products. Its
media app 'theScore' is one of the most popular in North America, delivering fans
highly-personalized live scores, news, stats, and betting
information from their favorite teams, leagues, and players. The
Company's sports betting app 'theScore Bet' delivers an immersive
and holistic mobile sports betting experience and is currently
available to place wagers in New
Jersey, Colorado, and
Indiana. Publicly traded on the
Toronto Stock Exchange (SCR), theScore also creates and distributes
innovative digital content through its web, social and esports
platforms.
Forward-looking (safe harbour) statement
Statements made in this news release that relate to future
plans, events or performances are forward-looking statements. Any
statement containing words such as "may", "would", "could", "will",
"believes", "plans", "anticipates", "estimates", "expects" or
"intends" and other similar statements which are not historical
facts contained in this release are forward-looking, and these
statements involve risks and uncertainties and are based on current
expectations. Forward– looking statements include, without
limitation, statements regarding the anticipated use of proceeds of
the Offering. Such statements reflect theScore's current views with
respect to future events and are subject to certain risks,
uncertainties and assumptions. Many factors could cause the
Company's actual results, performance or achievements to be
materially different from any future results, performance or
achievements that may be expressed or implied by such forward
looking statements, including among other things, those which are
discussed under the heading "Risk Factors" in the Company's current
Annual Information Form dated October 23,
2019 as filed with applicable Canadian securities regulatory
authorities and available on SEDAR under the Company's profile at
www.sedar.com and elsewhere in documents that theScore files from
time to time with such securities regulatory authorities, including
its relevant Management's Discussion & Analysis of the
financial condition and results of operations of the Company.
Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward-looking statements prove
incorrect, actual results could differ materially from the
expectations expressed in these forward-looking statements. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements except as required by
applicable law or regulatory requirements.
SOURCE Score Media and Gaming Inc.