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Rivalry Corp. Satisfies Escrow Release Conditions Ahead of Listing on the TSX Venture Exchange
Rivalry Corp. (formerly, “PMML Corp.”) (the “Company”) is pleased to announce that it has satisfied the escrow release conditions (the “Escrow Release Conditions”) in connection with its previously announced offering (the “Offering”) of subscription receipts (the “Subscription Receipts”) pursuant to which the Company issued 37,814,655 Subscription Receipts at a price of USD$0.58 per Subscription Receipt for aggregate gross proceeds of approximately USD$22,000,000 (the “Subscription Receipt Offering”). The Company delivered an escrow release notice (the “Escrow Release Notice”) to Odyssey Trust Company (the “Subscription Receipt Agent”) pursuant to the terms of a subscription receipt agreement dated June 9, 2021 between the Company, the Subscription Receipt Agent, Eight Capital and Cormark Securities Inc. (the “Subscription Receipt Agreement”) confirming that the Company has satisfied the Escrow Release Conditions, including (i) being issued a receipt for its final (long-form) prospectus dated September 17, 2021 (the “Prospectus”); (ii) obtaining all requisite corporate, shareholder and regulatory approvals in connection with the listing of its subordinate voting shares (the “Subordinate Voting Shares”) on the TSX Venture Exchange (the “TSXV”); and (iii) obtaining conditional approval from the TSXV for the listing of the Subordinate Voting Shares.
In connection with the delivery of the Escrow Release Notice, the escrowed funds held by the Subscription Receipt Agent, less certain commissions and expenses, have been released from escrow to the Company.
Meeting of Shareholders
On September 20, 2021, the Company held its annual and special meeting of shareholders (the “Meeting”). At the Meeting, the Shareholders approved (among other matters):
- a change of the Company’s name from “PMML Corp.” to “Rivalry Corp.” (the “Name Change”);
- a consolidation of the Company’s issued and outstanding shares at a ratio to be determined by the board of directors of the Company (the “Board”); and
- a reorganization of the Company’s share capital whereby each common share of the Company was reclassified as a Subordinate Voting Share and each Class A share of the Company was reclassified as a multiple voting share (the “Multiple Voting Shares”) with each Multiple Voting Share carrying 100 votes per share (the “Reorganization”).
Following the Meeting, the Board approved a consolidation ratio of 4.5 pre-consolidation shares for every one post-consolidation share (the “Consolidation”).
On September 21, 2021, the Company filed articles of amendment to give effect to the Name Change, Consolidation and Reorganization. A copy of the articles of amendment are available under the Company’s issuer profile on SEDAR at www.sedar.com.
Conversion of the Subscription Receipts and Compensation Options
In connection with the delivery of the Escrow Release Notice, 37,814,655 Subscription Receipts were automatically converted, without any further consideration or action by the holders thereof, into 8,403,242 Subordinate Voting Shares (after taking into account the Consolidation and the Reorganization). In connection with the Offering, the Company also issued an aggregate of 1,886,566 compensation options (the “Compensation Options”) to the Agents (as defined below), which upon the delivery of the Escrow Release Notice were automatically converted, without any further consideration or action by the holders thereof, into an aggregate of 419,235 compensation warrants (the “Compensation Warrants”) with each Compensation Warrant entitling the holder thereof to acquire one Subordinate Voting Share at an exercise price of USD $2.61 until March 23, 2023.
The Subscription Receipt Offering was completed by a syndicate of agents co-led by Eight Capital and Cormark Securities Inc. together with Canaccord Genuity Corp and M Partners Inc. (the “Agents”).
Listing of the Shares on the TSXV
As previously announced, the Company has received conditional approval from the TSXV for the listing of the Subordinate Voting Shares and expects the Subordinate Voting Shares to commence trading on the TSXV under the stock symbol “RVLY” at market open on or about October 5, 2021. Listing is subject to the Company fulfilling all listing requirements of the TSXV.
Latest News
Arizona Department of Gaming and Arizona Lottery Announce Proclamation Recognizing September 2025 as Responsible Gaming Education Month
State agencies join forces to raise awareness, promote prevention, and provide tools for safe and responsible play.
The Arizona Department of Gaming (ADG) and the Arizona Lottery are proud to announce a joint effort in support of a new Proclamation recognizing September 2025 as Responsible Gaming Education Month in Arizona.
Responsible gaming is about ensuring that individuals who choose to play have the tools, resources, and knowledge they need to make informed decisions and enjoy gaming as a form of entertainment. While problem gambling initiatives focus on helping those already experiencing harm from gambling, responsible gaming emphasizes prevention by encouraging healthy play behaviors before they reach a critical point.
Throughout September, and continuing in the months ahead, the ADG and Arizona Lottery will work together to strengthen education and awareness initiatives. The goal is to equip players with strategies and resources that help them keep gaming fun and safe, while helping reduce the risks associated with problem gambling.
“For over 30 years, the Arizona Department of Gaming has safeguarded the integrity of gaming through strong consumer protections, enforcement against illegal operators, and support services for those impacted by problem gambling,” said Jackie Johnson, Arizona Department of Gaming Agency Director. “During Responsible Gaming Education Month, we remind everyone that part of playing responsibly is being informed—always double-check before you place your bet to ensure you are using a legal, regulated operator at gaming.az.gov/checkyourbet.”
The Arizona Lottery also remains steadfast in its commitment to responsible play and has a Level 2 certification with the World Lottery Association for responsible gaming. Lottery games benefit the people of Arizona by generating critical revenue that funds education, healthcare, environmental conservation, and economic development. At the same time, the Lottery prioritizes the well-being of its players. Each ticket includes clear odds of winning, vending machines display game odds, and the 1-800-NEXT-STEP helpline is featured across Lottery products and advertising.
“We are proud to deliver entertainment that benefits communities across our state, while recognizing our responsibility to promote safe play,” said Alec Thomson, Arizona Lottery Executive Director. “Through transparency and awareness, we want every player to have the tools they need to make informed decisions and enjoy the Lottery responsibly.”
As Arizona observes Responsible Gaming Education Month, ADG and the Arizona Lottery encourage all players to stay informed, know their limits, and seek help if needed. Together, we can ensure that gaming remains a source of entertainment that strengthens, rather than harms, Arizona communities.
For more information and resources, visit gaming.az.gov/ResponsibleGaming or ArizonaLottery.com/ResponsibleGaming. If you or someone you know may be struggling with problem gambling, call or text 1-800-NEXT-STEP for confidential support available 24/7.
Internet Gaming Operator by the Alcohol and Gaming Commission of Ontario (AGCO).
This significant milestone authorizes absolutebet to offer regulated iGaming services in Ontario’s legal market under the oversight of AGCO and iGaming Ontario (iGO).
The registration marks a key step in absolutebet’s mission to bring a trusted, responsible, and innovative online casino experience to Ontario players. absolutebet is committed to operating with integrity and transparency, meeting all provincial standards for player protection, responsible gambling, anti-money laundering, and game integrity.
“Securing AGCO registration is more than a milestone—it’s the start of absolutebet’s journey in one of the most exciting regulated markets in the world,” said Chen Truman, Founder of absolutebet. “We are building a brand that will grow with the Ontario community and set the stage for future expansion.”
On the regulatory milestone, Krisztina Kalla, Legal & Regulatory Compliance Advisor of absolutebet, commented: “I’m incredibly proud to see all the hard work behind this license pay off. Securing AGCO registration has taken months of preparation and close collaboration with regulators and partners. I am very happy to see the result of that work, and even more excited as we move into the launch phase and open up the absolutebet community to Ontario players in a fun and responsible way.”
Ontario is recognized as one of the most competitive and fast-growing regulated iGaming markets in North America. With AGCO registration secured, absolutebet will move forward with the final stages of its iGO onboarding process in preparation for launch.
Woodbine Entertainment has announced a partnership with 1/ST that will see the bet365 Dance Smartly Stakes (G2) become a qualifying race for the Pegasus World Cup Filly & Mare Turf Invitational Stakes (G2).
The winner of this year’s $200,000 bet365 Dance Smartly Stakes at Woodbine Racetrack will receive an automatic invitation to the 2026 $500,000 Pegasus World Cup Filly & Mare Turf at Gulfstream Park in Hallandale Beach, Florida.
The Dance Smartly, to be held on Saturday, October 4 at Woodbine, will be contested at 1 1/16 miles on the bet365 Inner Turf Course and is part of a stacked card headlined by the returning $750,000 Canadian International (G1).
“We’re pleased to partner with the team at 1/ST Racing to add this unique bonus to the Dance Smartly,” said Tim Lawson, Vice-President of Thoroughbred Racing for Woodbine. “Pegasus World Cup Day has become an outstanding showcase of our sport and it’s exciting that the opportunity to be part of it will be connected to a prominent race on one of our biggest days of the season.”
The 2026 Pegasus World Cup will celebrate the 10-year anniversary of racing’s leading luxury, lifestyle and sporting event. The Pegasus World Cup debuted in 2017 as part of 1/ST’s mission to excite, energize and modernize the sport of racing for a new generation of fans and to provide lucrative opportunities for Thoroughbred owners and trainers. The event annually attracts the sport’s biggest names and is viewed globally.
“We’re thrilled to partner with Woodbine in linking the Dance Smartly to Pegasus World Cup Day,” said Aidan Butler, President of 1/ST. “This collaboration strengthens the global profile of both events, while providing horsemen and fans with a world-class pathway from Toronto to South Florida.”
The 2026 Pegasus World Cup will be held in January.
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