Latest News
Rivalry Closes Non-Brokered Private Placement Of Approximately $2.0 Million
Rivalry Corp. (the “Company” or “Rivalry“) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, is pleased to announce that it has closed the initial tranche of a non-brokered private placement of 12,930,707 units of the Company (the “Units“), at a price of $0.15 per Unit, for aggregate gross proceeds of approximately $1.94 million (the “Offering“).
The Company may complete one or more additional closings, for aggregate gross proceeds (together with the proceeds raised under the initial closing) of up to approximately USD$3 million. Unless otherwise noted, all dollar figures are quoted in Canadian dollars.
âThis initial tranche of our non-brokered private placement was primarily subscribed to by insiders, family and friends, and long-term shareholders,â said Steven Salz, Co-Founder and CEO of Rivalry. âThis commitment and demonstration of support is deeply gratifying as we press ahead into a new chapter for the Company.â
Each Unit is comprised of one (1) subordinate voting share in the capital of the Company (each, a “Subordinate Voting Share“) and one-half of one (1/2) Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant is exercisable into one Subordinate Voting Share in the capital of the Company (each, a “Warrant Share“) at a price of $0.25 per Warrant Share for a period of 12 months from the date hereof, subject to the Company’s right to accelerate the expiry date of the Warrants upon 30 days’ notice in the event that the closing price of the Subordinate Voting Shares is equal to or exceeds $0.50 on the TSX Venture Exchange (or such other recognized Canadian stock exchange as the Subordinate Voting Shares are primarily traded on) for a period of 10 consecutive trading days.
The Company intends to use the proceeds from the Offering for corporate development and general working capital purposes.
The Subordinate Voting Shares and Warrants, and any securities issuable upon exercise thereof, are subject to a four-month statutory hold period, in accordance with applicable securities legislation.
The Company has paid an aggregate of $14,953.74 in finder’s fees in connection with the closing of the first tranche of the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any applicable state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.
1,333,300 Units were issued to Steven Isenberg, a director of the Company and a “related party” (within the meaning of Multilateral Instrument 61-101 â Protection of Minority Security Holders in Special Transactions (“MI 61-101“)) and such issuance is considered a “related party transaction” for the purposes of MI 61-101. Such related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the Companyâs market capitalization. The purchasers of the Units and the extent of such participation were not finalized until shortly prior to the completion of the Offering. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the transactions contemplated hereby pursuant to a material change report filed at least 21 days prior to the completion of such transactions.
awagerâs live-stream solution brings physical slot machine games online, delivering an authentic casino experience remotely. Today, awager proudly announces the launch of its latest product version with Loto-QuĂ©bec. Building on two successful years with awagerâs second product version, this latest release introduces an advanced solution that brings the realism of the casino floor to playersâ devices, offering an even more immersive experience through awager’s enhanced technology.
This product launch features awagerâs unique âCasino-in-Casinoâ solution, part of a suite of offerings designed to deliver real-time, physical casino experience. A dedicated studio has been built on the Casino de MontrĂ©al floor.
This product version aims to bring the most authentic online casino experience yet. With a multitude of camera angles, real-time player engagement, full machine interaction, 4K video streaming with minimal lag, and full sound capture, players can enjoy an immersive session that captures the spirit of the casino. Additionally, a 3D video simulation was created, allowing players to “walk through” the Casino de MontrĂ©al when they enter the awager lobby, providing a true-to-life ambience for a realistic experience.
This launch strengthens a partnership with Loto-QuĂ©bec that began in 2022, when awagerâs second product version first captivated players. With its third version now live, awager and Loto-QuĂ©bec are set to continue their successful collaboration, elevating digital casino gaming for players across QuĂ©bec.
Warren Steven, GM of North America for awager: We are proud to work alongside Loto-QuĂ©bec and to provide the province’s players with the most advanced and exciting casino technology on the market.
We truly believe that the third version of our product is the most innovative yet and that there is nothing else quite like it on the market. It immerses players in the online casino environment and provides a unique experience, blurring the line between land-based and online casino action.
The Canadian market is a key strategic market for awager in North America, and it is a privilege to work alongside Loto-Québec and provide its customers with this exciting new experience.
François Hardy, Senior Director of Products and Innovation at Loto-QuĂ©bec: At Loto-QuĂ©bec, we are always looking for new and exciting ways to entertain our players. We want to be able to provide them with the latest technology and gaming on the market. Awagerâs product perfectly aligns with this vision, enabling us to provide a refreshing and dynamic experience to our players.
The New Jersey State Athletic Control Board (SACB) announced that it has recently adopted an updated sports betting policy for all licensees, officials, and employees.
Effective immediately, the policy prohibits unethical betting practices and reinforces the commitment to maintaining fairness and public trust in combative sports, including boxing, wrestling, extreme wrestling, kick boxing, and combative sports exhibitions, events, performances, and contests.
âWith this action, we are safeguarding the integrity of combative sports events. By implementing these standards, we are sending a clear message that unethical behavior will not be tolerated in New Jerseyâs combative sports industry,â said SACB Commissioner Larry Hazzard Sr.
The policy applies to board officials, such as inspectors, timekeepers, judges, referees, and physicians; board members, including the chairman; and board employees, such as the commissioner and deputy commissioner. Promoters, participants, and their agents are also encouraged to adopt integrity policies in line with these standards.
Key policy provisions include those related to betting restrictions, prohibited conduct, training, and enforcement, among others:
âą Officials, members, and employees are prohibited from betting on any combative sports event, both within New Jersey and globally. Legal betting on non-combative sports is allowed, provided it complies with local laws. Board employees must register with the Division of Gaming Enforcement (DGE) before placing such bets in New Jersey.
âą All forms of illegal betting, including through unauthorized platforms, are strictly prohibited.
âą Prohibited conduct includes match fixing and acting on or spreading insider information.
âą Board personnel are prohibited from working for sportsbooks or their affiliates.
âą Promoters and participants, along with their agents and managers, must refrain from betting on combative sports events held in New Jersey or engaging in any actions that compromise the integrity of performances.
âą All stakeholders, including board officials, members, employees, promotors, participants, agents, managers and seconds, are obligated to report any violations of this policy to the SACB Commissioner immediately.
âą Board personnel are required to undergo training and acknowledge this policy.
âą Violations may result in disciplinary actions, including fines, license suspensions, or revocation.
Nuvei Corporation announced that it has been selected by Delaware Northâs interactive gaming division to power deposits and payouts for Betly, its online real-money casino and sports betting brand. Delaware North operates Betly in West Virginia, Arkansas, Tennessee and Ohio in the US.
This partnership enhances the player experience at the checkout, streamlining both the deposit and payout processes for Betly customers across their online casino and sports betting profile. Delaware North is leveraging Nuveiâs local acquiring capabilities in the US to accept card payment deposits and enable all the relevant payout methods players demand, including real-time account-to-account transactions via Nuveiâs industry-leading Instant Bank Transfer product.
Todd San Jule, general manager for Delaware Northâs interactive gaming division and Betly, said: âProviding a seamless and secure iGaming cashier experience is crucial for our customersâ satisfaction and our business growth. By partnering with Nuvei, weâre able to offer our players a wide range of deposit options and swift payouts across all our online casino and sports betting brands. This collaboration aligns with our commitment to delivering top-tier gaming experiences and positions us to better serve our customers in the competitive U.S. iGaming market.â
Philip Fayer, Nuvei Chair and CEO, added: âWeâre thrilled to partner with Delaware North, one of the premier brands in the hospitality and gaming industry in the US. This collaboration showcases our commitment to providing the most relevant and modern payment solutions that drive growth for our customers by enhancing the end user experience in the rapidly evolving iGaming market, further solidifying our position as a global leader in this arena.â
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