/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Dec. 31, 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")
have exercised their over-allotment option in full, resulting in
the issue of an additional 4,285,800 Class A Subordinate Voting
Shares ("Class A Shares") of the Company at a price of
$1.40 per Class A Share. The exercise
of the over-allotment option brings the total gross proceeds of the
Offering to $46,000,920 through the
issue of an aggregate of 32,857,800 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.
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, Indiana, and
Colorado. 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 Statements
Statements made in this press
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 28, 2020 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.