GIG: Issue of new shares
2016-05-20 16:46:48
Gaming Innovation Group Inc. ("GIG") has today issued new
shares of its common stock as follows:
1. 4,336,314 new shares as part payment for the purchase of
an affiliate network from Delta Markets B.V., ref.
announcements from 9 March 2016 and 11 April 2016.
2. 8,960,000 new shares as part payment for the purchase of
an affiliate network from Magenti Media AB, ref.
announcement from 30 March 2016. All conditions for
completing the transaction has been fulfilled and closing
has taken place. Of the total consideration of SEK 47.5
million, SEK 34 million has been settled with new shares
at a share price of NOK 3.77.
3. 21,739,000 new shares as payment for the purchase of
OddsModel AS, ref. announcement from 22 March 2016.
All conditions for completing the transaction has been
fulfilled and closing has taken place. These 21,739,000
new shares will be subject to lock-up until 20 May 2018.
4. 47,900,000 new shares to the sellers of Gaming Innovation
Group Ltd. for the earn-out consideration, ref. GIG's
2015 Annual Report and Information Memorandum dated
17 March 2015. These 47,900,000 new shares will be
subject to lock-up until 17 June 2017.
5. 500,000 new shares for the exercise of an option at a
share price of NOK 1.30 per share, ref. announcement from
4 May 2016.
Gaming Innovation Group Inc. confirms that the new shares
have been duly authorized by all necessary corporate action
and that the new shares have been fully paid and validly
issued. The Company's share capital has increased from
USD 52,512,095.20 to USD 60,855,626.60, and the number of
outstanding shares has increased from 525,120,952 to
608,556,266 (par value USD 0.10). The new shares are issued
by the board of directors under the Company's 750,000,000
authorized shares.
In connection with the purchase of the minority interests in
GIG's subsidiary Candid Gaming Ltd. in December 2014,
14,000,000 GIG shares were issued to a trust for the benefit
of key employees. It has been agreed to return the remaining
8,500,000 shares in the trust to GIG, increasing GIG's
holding of own shares from 415,000 to 8,915,000. Thus, GIG's
holding of own shares will increase from 0.08% of the
outstanding shares to 1.46% of the new number of outstanding
shares.
For further information, contact:
Robin Reed, Group CEO, +356 9999 0382,
(Robin@GamingInnovationGroup.com)
About GIG:
Gaming Innovation Group Inc. is an emerging gambling
solutions and interactive entertainment provider. The Group
offers cutting-edge Cloud based Services and B2B Performance
Marketing, and owns B2C gambling operators offering games
from the best-of-breed suppliers across the online sports
betting and casino industry. Gaming Innovation Group
operates out of Malta and is listed on the Oslo Stock
Exchange under the ticker symbol "GIG".
For more information about the Group and our services:
https://gaminginnovationgroup.com
https://igamingcloud.com
https://www.guts.com
https://www.betspin.com
https://www.rizk.com