Rivalry Announces Results of Annual General and Special Meeting of Shareholders

Rhea-AI Summary

Rivalry Corp. (OTCQX: RVLCF) held its annual general and special meeting on June 28, 2022, where all director nominees were elected, including Steven Salz and Kirstine Stewart. Shareholders approved the re-appointment of auditors Macias Gini & O’Connell LLP and authorized the board to set their remuneration. Additionally, amendments to the Equity Incentive Plan were approved. Rivalry operates a regulated online sports betting platform and is expanding its licensing globally, with existing licenses in Australia and Ontario.

Positive

• Election of all director nominees enhances governance.
• Approval of auditor re-appointment supports financial oversight.
• Amendments to the Equity Incentive Plan may attract talent and align interests.

Negative

• None.

TORONTO, June 29, 2022 (GLOBE NEWSWIRE) -- Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), is pleased to announce the results of its annual general and special meeting of shareholders held on June 28, 2022 (the “Meeting”).

At the Meeting, each of the director nominees listed in the Company's management information circular dated May 30, 2022 (the “Circular”) were elected as directors of the Company, including Steven Salz, Steven Isenberg, Stephen Rigby, Kirstine Stewart, Ryan White and Kevin Wimer. The shareholders of the Company also approved the re-appointment of Macias Gini & O’Connell LLP as the auditors of the Company for the ensuing year and authorized the board of directors to fix their remuneration and terms of engagement.

At the Meeting, the shareholders of the Company also approved certain amendments to the Company’s equity incentive plan (the “Equity Incentive Plan”), in accordance with the TSX Venture Exchange rules and policies. A copy of the Equity Incentive Plan is attached as a schedule to the Circular, which is available on the Company's SEDAR profile at www.sedar.com.

About Rivalry

Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media property offering fully regulated online wagering on esports, traditional sports, and casino for the next generation of bettors. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions. Rivalry holds a sports bookmaker license in Australia and an internet gaming registration in Ontario and is currently in the process of obtaining additional country licenses. The Company also has a variety of originally developed products, including Quest, an on-site engagement experience, and an original casino game called Rushlane, a proprietary casino game that marks the creation of a new category for online gaming: Massively Multiplayer Online Gambling Games (MMOGG).

Investor Contact:

Oakstrom Advisors
Jeff Codispodi I investors@rivalry.com  

Company Contact:

Steven Salz, Co-Founder & CEO
ss@rivalry.com

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.

Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; the impact of the COVID-19 pandemic; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s prospectus dated September 17, 2021 available on the Company’s SEDAR profile at www.sedar.com.

No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Source: Rivalry Corp.

FAQ

What were the results of Rivalry Corp.'s annual meeting on June 28, 2022?

At the annual meeting, all director nominees were elected, and shareholders approved the re-appointment of auditors and amendments to the Equity Incentive Plan.

Who are the directors elected at Rivalry Corp.'s annual meeting?

The elected directors include Steven Salz, Steven Isenberg, Stephen Rigby, Kirstine Stewart, Ryan White, and Kevin Wimer.

What is the stock symbol for Rivalry Corp.?

The stock symbol for Rivalry Corp. is RVLCF on the OTCQX.

What types of licenses does Rivalry Corp. hold for its operations?

Rivalry holds a sports bookmaker license in Australia and an internet gaming registration in Ontario.

What is the purpose of the Equity Incentive Plan approved by Rivalry Corp. shareholders?

The Equity Incentive Plan aims to attract and retain talent by aligning employee interests with shareholder value.