/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Jan. 18, 2021 /CNW/ - TGS Esports Inc.
("TGS" or the "Company") (TSXV: TGS) (FRA: 5RH)
is pleased to announce that due to strong investor demand, it has
increased the size of the non-brokered private placement (the
"Offering") announced on January 14,
2021. The Offering will now consist of the issuance of up to
11,111,111 units (each, a "Unit") at a price of $0.18 per Unit for aggregate gross proceeds of
$2,000,000. Each Unit is
comprised of one common share (each, a "Share") and one
non-transferrable common share purchase warrant (each, a
"Warrant"). Each Warrant will entitle the holder
thereof to acquire one Share (each, a "Warrant Share") at a
price of $0.25 per Warrant Share for
a period of two years from closing of the Offering, subject to
acceleration in the event that the Shares trade at or above
$0.40 for ten consecutive trading
days.
The proceeds from the Offering are expected to be used for
general working capital. Insiders of the Company are leading
participation in the Offering. Finder's fees may be payable in
connection with the Offering in accordance with the policies of the
TSX Venture Exchange (the "Exchange").
All securities issued in connection with the Offering will be
subject to a statutory hold period expiring four months and one day
after closing of the Offering. Completion of the Offering is
subject to a number of conditions, including, without limitation,
receipt of all regulatory approvals, including approval of the
Exchange.
None of the securities to be issued in connection with the
Offering will be or have been registered under the United States Securities Act of
1933, as amended (the "1933 Act"), and none may be
offered or sold in the United
States absent registration or an applicable exemption from
the registration requirements of the 1933 Act. This press release
is being issued pursuant to Rule 135c of the 1933 Act and shall not
constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of the securities, in any state where
such offer, solicitation or sale would be unlawful.
About TGS Esports Inc.
TGS Esports Inc. is an organization focused on creating the
ultimate esports experience. TGS is made up of industry
professionals with 20+ combined years in the space of tournament
organization, league facilitation, and production. This experience
combined with the acquisition of Pepper allows TGS to offer a full
suite of tools needed for any player or tournament organizer in
esports.
Pepper is a next generation esports platform that makes it
possible to create and manage player communities, spectators,
sponsors, and brands—all in one place. By working closely with and
listening to event organizers, tournament operators, and live venue
operators over the last two years, Pepper has developed a unique
product that connects leaders in esports to their audience and
helps them grow leaner, faster, and smarter businesses.
TGS also owns Volcanic Media, an organization hyper focused on
scholastic esports. Volcanic provides events, leagues, and
educational curriculums to High Schools and Universities. TGS is
owner and operator of The Gaming Stadium, Canada's first dedicated esports facility,
located in Richmond, British
Columbia.
On behalf of the Board of Directors
"Spiro Khouri"
Spiro Khouri, CEO
TGS Esports Inc.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company. Forward-looking statements consist of statements that
are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future,
including with respect to: the Offering, the proceeds of the
Offering, insider participation in the Offering and the use of the
proceeds of the Offering. Such statements are subject to risks and
uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements, including risks related to factors beyond the control
of the Company. The risks include the following: that the Ordering
may not be completed as set out herein, that the requisite
approvals for the Offering may not be received, the unknown
magnitude and duration of the effects of the COVID-19 pandemic and
other risks that are customary to transactions of this nature. No
assurance can be given that any of the events anticipated by the
forward-looking statements will occur or, if they do occur, what
benefits the Company will obtain from them.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE TGS Esports Inc