Lottery.com Enters Large and Fast Growing Market in Turkey to Offer U.S. Lottery Products as it Finalizes the Definitive Agre...
January 29 2021 - 8:30AM
Lottery.com (the “Company”), a leading online
platform to play the lottery online or from a mobile device, has
announced that it has entered into an agreement of cooperation for
a 30-year term with Turkish company Inball to offer select
Lottery.com products in Turkey, both physically and electronically.
The Company also is targeting mid-February 2021 to sign a
definitive agreement for a business combination with Trident
Acquisitions Corp. (Nasdaq: TDACU, TDAC, TDACW).
Turkey has a market of approximately 58 million people eligible
to purchase lottery products. Inball has a commercial partnership
with Mete Group, the largest advertiser in Turkey, and with
Unilever among other large corporations. Inball also owns Karsan, a
large distribution company listed on the Turkish Fortune 500.
“Lottery.com has long had the goal to further our expansion, not
only domestically, but internationally,” said Lottery.com CEO Tony
DiMatteo. “We believe Inball is going to be a great partner to
introduce us to the Turkish market and we feel confident and
grateful to be partnered with such a strong brand. The expected
business combination with Trident Acquisitions should provide
Lottery.com with the necessary capital to support our international
expansion."
Niyazi Mete, CEO of both Inball and Mete Group, added: “We are
very keen to launch this business in Turkey as soon as possible. We
are working with officials to finalize legal approvals and to begin
distribution of U.S. lottery products in Turkey.”
Lottery.com has been working on its business development
strategy and has several additional business developments that will
be disclosed in the following weeks. This agreement is paramount
for the Company, as it marks the first international cooperation
agreement and further paves the way for international expansion.
This move also strongly affirms Lottery.com’s commitment to
complete a business combination with Trident Acquisitions Corp., as
the Company views access to the public capital markets as a
critical part of its growth strategy.
On November 19, 2020, Lottery.com announced a binding
letter of intent to combine with Trident Acquisitions
Corp. (Nasdaq: TDACU, TDAC, TDACW), which would make Lottery.com a
publicly-traded company on The Nasdaq Stock Market.
About Lottery.comLottery.com
is an Austin, TX-based company enabling consumers to play
state-sanctioned lottery games from their home or on the go in the
US, and select lottery products internationally. The Company works
closely with state regulators to advance the lottery industry,
providing increased revenues and better regulatory capabilities,
while capturing untapped market share, including millennial
players. Lottery.com is also gamifying charitable giving to
fundamentally change how nonprofits engage with their donors and
raise funds. Through their WinTogether.org platform, they offer
charitable donation sweepstakes to incentivize donors to take
action by offering once in a lifetime experiences and large cash
prizes.
Important Information and Where to Find
it
In connection with the proposed business
combination, Trident Acquisitions Corp. (“Trident”), expects to
file a preliminary proxy statement (the "Proxy Statement") with the
SEC for the solicitation of proxies from Trident's shareholders.
Additionally, Trident and Lottery.com Holdings will file other
relevant materials with the SEC in connection with the business
combination. Copies may be obtained free of charge at the SEC's web
site at www.sec.gov. A definitive proxy statement will be mailed to
Trident shareholders as of a record date to be established for
voting on the proposed business combination. Investors and security
holders of Trident are urged to read the proxy statement and the
other relevant materials when they become available before making
any voting decision with respect to the proposed business
combination because they will contain important information about
the business combination and the parties to the business
combination. The information contained on, or that may be accessed
through, the websites referenced in this press release is not
incorporated by reference into, and is not a part of, this press
release.
Participants in the
Solicitation
Trident and its directors and officers may be
deemed participants in the solicitation of proxies of Trident's
shareholders in connection with the proposed business combination.
Lottery.com and its officers and directors may also be deemed
participants in such solicitation. Security holders may obtain more
detailed information regarding the names, affiliations and
interests of certain of Trident's executive officers and directors
in the solicitation by reading Trident's Annual Report on Form 10-K
for the fiscal year ended December 31, 2019, and the Proxy
Statement and other relevant materials filed with the SEC in
connection with the business combination when they become
available. Information concerning the interests of Trident's
participants in the solicitation, which may, in some cases, be
different than those of their stockholders generally, will be set
forth in the proxy statement relating to the business combination
when it becomes available.
No Offer or Solicitation
This communication does not constitute an offer
to sell or the solicitation of an offer to buy any securities or
constitute a solicitation of any vote or approval.
Lottery.com Contact:
Cody Billingsley(512)
537-5713cody@lottery.com
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