Real Luck Group Ltd. announces DTC Eligibility for Its Common Shares

Rhea-AI Summary

Real Luck Group Ltd. (TSXV: LUCK, OTCQB: LUKEF) announced its common shares are now eligible for electronic clearing and settlement via the Depository Trust Company (DTC) in the U.S. This move aims to enhance liquidity and trading convenience for investors. CFO Ran Kaspi noted that DTC eligibility will reduce trading costs and improve execution speeds, making the stock more attractive to new investors. The company's recent C$17.8 million oversubscribed financing has strengthened its balance sheet, supporting its growth in the expanding esports betting market.

Positive

• DTC eligibility is expected to enhance liquidity and trading convenience.
• C$17.8 million oversubscribed financing solidified the balance sheet.

Negative

• None.

CALGARY, AB and ISLE OF MAN, United Kingdom, May 3, 2021 /PRNewswire/ - Real Luck Group Ltd. (TSXV: LUCK) (OTCQB: LUKEF) (the "Company") and its subsidiary companies doing business as "Luckbox" (the "Group"), an award-winning provider of legal, real money esports betting, is pleased to announce that its common shares (including those traded on the OTCQB) are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States.

DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible". DTC eligibility is expected to create a seamless process of trading and enhance liquidity of the Company's common shares in the United States over time.

"The ability to have Real Luck Group shares electronically cleared and settled in the U.S. is more convenient and reduces the costs incurred in trading shares," said Real Luck Group Chief Financial Officer Ran Kaspi. "With our shares traded electronically, existing investors benefit from greater liquidity over time and execution speeds, while new investors are far less restricted from investing in our stock."

"Our recent C$17.8 million oversubscribed financing has solidified our balance sheet, giving us ample room to execute on our business plan to attract esports bettors to our Luckbox application," said Real Luck Group Chief Customer Officer Thomas Rosander. "The Covid pandemic increased the size of esports audiences, and with that esports betting. The traditional sports betting demographic is shrinking whereas our market has grown up watching video games and is expected to grow in the future. Today's announcement makes it easier for a larger group of investors to participate in our growth."

About Luckbox

The Company is an award-winning betting company that offers legal, real-money betting, live streams, and statistics on all major esports and sports on desktop and mobile devices. The Company has a Business-to-Consumer (B2C) platform, and by leveraging shared technology, data, and resources, the Company can offer an extensive range of betting options for esports tournaments. The Company's in-house customized user interface and user experience, built on a technology stack that supports multiple odds and streaming sources, allows the Company to deliver deep esports betting coverage. The Company has been built by a team combining experience in the igaming industry and a passion for esports to offer players a unique, broad, engaging, and legal CS:GO betting, Dota 2 and League of Legends betting experience. The Company serves esports fans in more than 80 territories across the globe. In November 2020, Luckbox was named Rising Star at the EGR Operator Awards. The Company (via the Group) holds a full licence under the Online Gambling Regulation Act (OGRA), issued by the Isle of Man Gaming Supervision Commission. As the Group is fully licensed in the Isle of Man for B2C and B2B esports & sports betting and casino, the Company has access to favourable payment processors. Luckbox is committed to supporting responsible gambling.

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The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Real Luck Group Ltd.

FAQ

What is the significance of Real Luck Group becoming DTC eligible for LUKEF?

DTC eligibility enhances liquidity and simplifies the trading process for Real Luck Group's shares in the U.S.

How much funding did Real Luck Group secure in its recent financing?

Real Luck Group secured C$17.8 million in its recent oversubscribed financing.

When did Real Luck Group announce the DTC eligibility for its shares?

Real Luck Group announced the DTC eligibility on May 3, 2021.

What market does Real Luck Group operate in?

Real Luck Group operates in the esports betting market, providing legal real-money betting options.