Bragg Gaming Announces Shareholder Meeting and Intent to List on the Nasdaq Stock Market
Bragg Gaming Group (OTC: BRGGF) announced it will host a shareholders meeting on April 28, 2021, and has applied to list on The Nasdaq Stock Market. The company seeks shareholder approval for a potential share consolidation of up to 1-for-15 to comply with Nasdaq's initial listing price requirement. The consolidation will be implemented only after demonstrating compliance with other Nasdaq standards. There is no guarantee that the listing will be completed.
- Application filed for Nasdaq listing.
- Shareholder meeting scheduled for April 28, 2021.
- Potential share consolidation raises concerns about dilution.
- No assurance that Nasdaq listing will be completed.
TORONTO, March 29, 2021 (GLOBE NEWSWIRE) -- B2B gaming technology platform provider Bragg Gaming Group (TSX:BRAG, OTC: BRGGF) ("Bragg" or the "Company") announced today that the Company will host a meeting of shareholders on April 28, 2021. Bragg also announced today that the Company has filed an application to list its common shares on The Nasdaq Stock Market.
In connection with today's mailing of the Company’s management information circular ("Circular") for its Annual General and Special Shareholders Meeting, Bragg is seeking authorization from shareholders to grant the board of directors the discretion to complete a share consolidation, if necessary, in order to demonstrate compliance with the applicable Nasdaq initial listing price requirement.
The Circular seeks authorization for a range of ratios up to one (1) share for fifteen (15) shares. In the event a share consolidation is required to meet the applicable Nasdaq listing requirement, the Company will delay implementation of the consolidation until it believes that it has demonstrated to Nasdaq compliance with all other applicable requirements for initial listing. The consolidation would take effect a minimum of five business days prior to listing on Nasdaq. The Company’s proposed Nasdaq listing is dependent on satisfying Nasdaq quantitative and qualitative listing standards and there is no assurance that such listing will be completed.
The Circular can be found under the Company's profile on SEDAR at www.sedar.com.
About Bragg Gaming Group
Bragg Gaming Group (TSX:BRAG, OTC: BRGGF) is a global B2B gaming technology platform provider. With operations across Europe and North America, Bragg is expanding into an international force within the burgeoning global online gaming market. Bragg’s main brand is ORYX Gaming, an innovative business-to-business iGaming platform, casino content aggregator, managed sportsbook and managed services provider, offering cutting-edge content from leading studios.
For Bragg Gaming Group, contact:
Yaniv Spielberg, CSO, Bragg Gaming Group
info@bragg.games
For media enquiries or interviews, please contact:
Keera Hart, Kaiser & Partners Communications
keera.hart@kaiserpartners.com
905.580.1257
For investor enquiries, please contact:
David Gentry
dgentry@bragg.games
1-800-733-2447
407-491-4498
Cautionary Statement Regarding Forward-Looking Information
This news release may contain forward-looking statements or "forward-looking information" within the meaning of applicable Canadian securities laws ("forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include the following: the impact of COVID-19 on the business of the Company; the countercyclical growth of the business of the Company; the regulatory regime governing the business of the Company; the operations of the Company; the products and services of the Company; the Company's customers; acquisition opportunities; the growth of the Company's business, which may not be achieved or realized within the time frames stated or at all; and the anticipated size and/or revenue associated with the gaming market globally.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the following: risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favourable terms; realization of growth estimates, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices; the estimated size of the gaming market globally; changes in customer demand; disruptions to our technology network including computer systems and software; natural events such as severe weather, fires, floods and earthquakes; and risks related to health pandemics and the outbreak of communicable diseases, such as the current outbreak of COVID-19.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Any forward-looking statement made by the Company in this news release or the earnings call is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Company nor any of its management or directors undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Neither TSX 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 news release.
FAQ
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