Playmaker Capital Inc. Announces Option Grant and Earn-Out Payment

Rhea-AI Summary

Playmaker Capital Inc. (TSX-V: PMKR) announced the grant of 400,000 stock options to one of its directors, vesting 25% after one year and the remainder monthly, with an exercise price of C$0.58. Additionally, the company has settled part of the earn-out for its Futbol Sites acquisition with a total payment of US$6,250,000, which included US$4,559,812 in cash and 3,765,950 common shares at a price of C$0.5719. This transaction reflects Playmaker's strategy to build a strong portfolio of sports media brands and enhance shareholder value.

Positive

• Grant of 400,000 options may incentivize key personnel.
• Settlement of Futbol Sites earn-out strengthens acquisition strategy.

Negative

• Exercise price for options at C$0.58 may indicate limited near-term stock growth potential.

TORONTO--(BUSINESS WIRE)-- Playmaker Capital Inc. (TSX-V: PMKR) (“Playmaker” or the “Company”), the digital sports media company that delivers authentic content experiences through its portfolio of sports media and technology brands, announced that it has granted 400,000 options to purchase Playmaker common shares (the “Options”) to one of its directors under the terms of the Company’s omnibus equity incentive plan. 25% of the Options vest on the first anniversary of the date of grant, with the remaining Options vesting in 1/48 increments each monthly anniversary thereafter. The Options were granted at an exercise price of C$0.58 and expire 10 years from the date of grant.

The Company also announced that in connection with its previously announced acquisition of Futbol Sites on April 1, 2021, the Company has settled a portion of the earn-out consideration with a payment of US$6,250,000 to the vendors. The earn-out was satisfied with a cash payment of US$4,559,812 and through the issuance of 3,765,950 Playmaker common shares (the “Earn-Out Shares”). The Earn-Out Shares were issued at a deemed price of C$0.5719, which represents the volume weighted average trading price for the twenty-trading day period ended April 29, 2022.

TSX VENTURE EXCHANGE DISCLAIMER
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.

ABOUT PLAYMAKER
Playmaker Capital Inc. (TSX-V: PMKR; OTC: PMKRF) is a digital sports media company that lives at the intersection of sports, betting, media and technology. Playmaker is building a premier collection of sports media brands, curated to deliver highly engaged audiences of sports fans to sports betting companies, leagues, teams and advertisers.

For more information, visit: playmaker.fans or contact Playmaker Chief Executive Officer Jordan Gnat via email jgnat@playmaker.fans | T: 416-815-4993

View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005734/en/

MEDIA

Derek Holota – E: Derek@providentcomms.com | T: (+1) 343-422-5606

Source: Playmaker Capital Inc.

FAQ

What stock options did Playmaker Capital grant in their recent announcement?

Playmaker Capital granted 400,000 stock options to one of its directors with an exercise price of C$0.58.

What was the earn-out settlement amount for Playmaker's acquisition of Futbol Sites?

Playmaker settled part of the earn-out with a total payment of US$6,250,000.

How many common shares were issued as part of Playmaker's Futbol Sites earn-out settlement?

Playmaker issued 3,765,950 common shares as part of the earn-out settlement.

What is the current ticker symbol for Playmaker Capital on the OTC market?

The ticker symbol for Playmaker Capital on the OTC market is PMKRF.