Global Securities and Haywood are agents for brokered placement
By Angela McDaniels
Tacoma, Wash., Sept. 5 – Kingsman Resources Inc., which will be changing its name to Contagious Gaming Inc., plans to sell C$6 million of common shares through two private placements, one brokered and one non-brokered.
Global Securities Corp. and Haywood Securities Inc. are the agents for the brokered placement. They will be given a 15% greenshoe, according to a company news release.
Proceeds will be used to launch the GoalTime sports betting system, to expand the company's game portfolio and for general working capital.
The company announced plans for the offering Feb. 4, 2014. It had originally planned to sell a minimum of C$3 million of shares and a maximum of C$5 million of shares.
The company recently received shareholder approval to acquire Contagious Sports Ltd. and Telos Entertainment Inc. in a reverse takeover.
The acquisitions and placements are expected to close Sept. 16. Prior to the closing date, the company plans to change its name and consolidate its outstanding common shares on the basis of one new common share for every two existing common shares.
Kingsman Resources is currently an exploration-stage mining company based in Vancouver, B.C. Once it completes the acquisitions, it expects to carry on the business of Telos, a Charlottetown, Prince Edward Island-based company engaged in developing content for regulated gaming and lottery markets, and Contagious, a London-based company engaged in the development, distribution and operation of gaming solutions for regulated gaming markets.
| Issuer: | Contagious Gaming Inc.
|
| Issue: | Common shares
|
| Amount: | C$6 million
|
| Greenshoe: | 15% of brokered portion
|
| Warrants: | No
|
| Agents: | Global Securities Corp. and Haywood Securities Inc. (for brokered portion)
|
| Settlement date: | Sept. 16
|
| Stock symbol: | TSX Venture: KSM
|
| Stock price: | C$0.25 at close Sept. 5
|
| Market capitalization: | C$6.29 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
