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Canada

Rivalry Announces $14 Million Investment to Accelerate Growth

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Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Millennials and Gen Z, today announced a non-brokered private placement offering of convertible debentures (“Convertible Debentures“), and the closing of the first tranche of such offering for aggregate gross proceeds of $14,000,000. The investment comprising this initial closing came from an existing institutional shareholder. All dollar figures are quoted in Canadian dollars.

Under the Offering, each Convertible Debenture will consist of $1,000 principal amount of 10% senior secured convertible debentures of the Company, maturing on November 14, 2027 (the “Maturity Date“). The outstanding principal under the Convertible Debentures will be convertible at the option of the holder, at any time prior to the close of business on the last business day immediately preceding the Maturity Date, into subordinate voting shares in the capital of the Company (“Subordinate Voting Shares“) at the conversion price of $1.40 per Subordinate Voting Share (the “Conversion Price“).

“We are very pleased to receive the support of a long-standing institutional shareholder of Rivalry with this investment,” said Steven Salz, Co-founder and CEO, Rivalry. “Rivalry’s unique product mix and position in the marketplace has brought the business to the inflection point it’s reached today. We’re deeply confident in the underlying trends the business is showing and maintain our expectation to achieve profitability in H1 2024.”

“Strengthening our balance sheet positions the company to maximize the opportunity in front of us. The capital will enable Rivalry to accelerate the development and release of new products, expand marketing efforts, and extend into new geographies and verticals, setting us on a path where we can pursue growth and profitability at the same time,” Salz added.

Terms of the Offering
The Convertible Debentures will bear interest from the date of issue at 10.0% per annum, and will be payable in cash quarterly in arrears on March 30, June 30 September 30 and December 30 of each year (each, an “Interest Payment Date”) commencing December 31, 2025 and will consist of interest accrued from and including the date of issue to the initial Interest Payment Date. Additional tranches of the non-brokered private placement offering may close for aggregate gross proceeds of up to $27,500,000 (inclusive of the initial closing) (the “Offering“).

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The Convertible Debentures will be senior secured obligations of the Company, subject to certain exceptions, and will be secured by all of the assets and property of the Company, subject to certain permitted encumbrances, pursuant to a general security agreement, and guaranteed by the Company’s wholly-owned material subsidiaries, and such guarantee shall be secured by a security agreement executed by such subsidiaries granting a first priority security interest on all of their present and after acquired personal property.

The net proceeds received by the Company are expected to be used to fund general working capital and corporate purposes.

The Convertible Debentures shall be offered and sold (i) to investors in Canada on a private placement basis; (ii) to institutional accredited investors in the United States pursuant to available private placement exemptions; (iii) to investors residing in jurisdictions outside of Canada and the United States, in each case in accordance with all applicable laws; provided that no prospectus, registration statement or similar document is required to be filed in such foreign jurisdiction.

All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The securities issuable in connection with the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referenced in this press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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Altenar

ReactivAction Limited Partners with Fast Track to Underpin Growth Strategy, Starting with the Brazilian Market

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ReactivAction Limited, an ambitious new player in the iGaming industry offering online casino games and sports betting, has gone live with Fast Track, marking a strategic move to cement a stronghold across multiple markets, starting with Brazil.

This partnership not only marks a dynamic alliance but also a ground-breaking integration of Fast Track with Altenar’s renowned player account management (PAM) platform. This innovative collaboration highlights Fast Track’s exceptional ability to seamlessly integrate with various leading iGaming systems, further cementing its position as the industry’s most versatile and adaptable CRM solution provider.

With plans to expand beyond Brazil into Canada, New Zealand and Ireland through a second brand, ReactivAction Limited was on the lookout for a long-term partner that not only understands its growth trajectory but is also a critical driving force behind its growth. By leveraging Fast Track’s state-of-the-art AI-driven tools, lifecycle automation and real-time data analytics, ReactivAction Limited is poised to elevate its player engagement and retention strategies. This advanced technology empowers ReactivAction Limited to customize communications, personalised promotions and bonuses, aligning them with individual preferences and behaviours for a more tailored and engaging gaming experience.

“We were looking for a platform that sets us up for success from day one, making it possible to execute and automate the entire retention strategy, a system that could scale and mould around our expansion and provide solutions to our unique challenges,” the Director for ReactivAction Limited, Leone Stranges, said. “Fast Track’s lifecycle templates, real-time capabilities and experience within the industry made it a straightforward choice.”

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“We are always excited at the prospect of empowering a forward-thinking operator through our platform,” the founder and Chief Executive Officer for Fast Track, Simon Lidzen, said. “We look forward to a fruitful long-term relationship to support ReactivAction Limited’s growth trajectory as it expands its brand into new markets.”

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10X Fortune

Design Works Gaming Attains iGaming License in Ontario Canada

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Design Works Gaming (DWG), a leading games studio, proudly announces the acquisition of its iGaming license in Ontario, Canada.

This significant milestone opens doors to a new era of growth and expansion for the company as it ventures into the thriving Canadian market. As the first Canadian region to launch regulated online gaming, Ontario had over 1.2 million active player accounts by the end of 2023 and that count is steadily growing.

With its license secured, DWG is poised to bring its innovative slots and premium LuckyTap titles to the Ontario market, further solidifying its position as a key player in the global iGaming industry. The company’s commitment to delivering iconic, never-before-seen gaming experiences to players has been a driving force behind its success and the expansion into Canada only furthers that mission.

The founder and Chief Executive Officer for DWG, Troy Zurawski, expressed his excitement about this significant achievement, stating: “Securing the iGaming license in Ontario is a momentous milestone for our company. We have been working tirelessly to take the next step in our global expansion and Canada has been in our sights for a long time. Entering this new market opens a significant opportunity to introduce new players to our fresh, exciting approach to casino play.”

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Known for its creativity in game development, DWG is consistently pushing boundaries to deliver captivating gaming experiences. The company will bring unparalleled entertainment and robust content offerings such as its award-winning Break the Bounty LuckyTap and 10X Fortune to Canadian players.

DWG is continuing to expand its global presence in the dynamic and evolving iGaming market. To learn more, visit DesignWorksGaming . com.

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Alcohol and Gaming Commission of Ontario

Booming Games has been granted a B2B license by the Alcohol and Gaming Commission of Ontario

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Booming Games, a fast-expanding iGaming slot provider, announces the acquisition of a B2B license from the Alcohol and Gaming Commission (AGCO) of Ontario, Canada, paving the way for entry into North American markets.

This Monday, Booming Games received official notification of its B2B gaming license approval from the Alcohol and Gaming Commission (AGCO). The license authorizes the company to distribute its content to licensed gambling operators in Ontario, Canada. This opens the doors for Canadian players to enjoy popular games such as TNT Bonanza, Cash Pig, Buffalo Hold and Win, and The Wild Wings of Phoenix.

Booming Games remains committed to upholding the highest standards of regulatory compliance and responsible gaming practices.

Frederik Niehusen, Chief Commercial Officer at Booming Games, expresses enthusiasm for being among the first iGaming providers to secure a complete B2B gaming license in Canada. The company’s swift market action has granted it a competitive advantage.

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Niehusen affirms, “We are thrilled to have obtained a full Ontario B2B gaming license, allowing us to expand in the fast-growing Canadian market. Ontario is the next milestone of our strategy to expand in regulated markets after successfully entering Spain, Colombia, The Netherlands, and Denmark in 2023. ”

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