Canada
Intema Closes Second Tranche of Financing
Intema Solutions Inc. is pleased to announce that further to its press releases dated June 17, 2021 and August 31, 2021, it has completed a second tranche of its non-brokered private placement of subscription receipts (the “Private Placement”), bringing the total gross proceeds to $10,007,000 of a maximum of $15,000,000. The second tranche consisted of the issuance of 8,594,000 subscription receipts (each a “Subscription Receipt”) at a price of $0.50 per Subscription Receipt (the “Subscription Price”) for gross proceeds of $4,297,000. The Private Placement is being undertaken by the Corporation in connection with its previously announced proposed transaction (the “Proposed Transaction”), whereby the Corporation will acquire all of the issued and outstanding securities of Livestream Gaming Ltd. (“Livestream”), owner of LOOT.BET.
“We are pleased and proud that our current and future shareholders have shown such confidence in Intema’s future plans, allowing us to reach the minimum amount we set for the Livestream acquisition,” said Laurent Benezra, President and CEO of Intema. “With the progress we have made in recent weeks and the continued momentum in the esports and iGaming sectors, we have seen a significant increase in demand for our financing, which leads us to believe that we’ll be able to reach our $15 million target.”
The Subscription Receipts were issued pursuant to a subscription receipt agreement entered into between Intema and the subscription receipt agent (the “Subscription Receipt Agreement”). Pursuant to the Subscription Receipt Agreement, each Subscription Receipt will be automatically exchanged for one unit of the Corporation (a “Unit”), requiring no additional consideration or action on the part of the holder, upon the satisfaction of certain escrow release conditions in connection with the Proposed Transaction, including (i) all conditions precedent to the completion of the Proposed Transaction having been satisfied, (ii) the Corporation not being in breach or default of any of its covenants or obligations under the Subscription Receipt Agreement, and (ii) the escrow agent having received a notice from the Corporation that all conditions precedent to the completion of the Proposed Transaction have been satisfied or waived, other than the release of the escrowed funds to the Corporation pursuant to the Subscription Receipt Agreement (the “Escrow Release Conditions”). All proceeds of the Private Placement are being held in escrow pending the satisfaction of the Escrow Release Conditions. If the Proposed Transaction is not completed within 180 days of the closing of the first tranche of the Private Placement, the Subscription Receipts will be deemed to be cancelled and the holders of Subscription Receipts will receive an amount equal to the aggregate Subscription Price of their Subscription Receipts and the interest earned, if any, on such Subscription Price.
Each Unit consists of one common share of the Corporation (a “Common Share”) and one-half of one common share purchase warrant of the Corporation (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.90 for a period of 12 months from the date of issuance.
In connection with the Private Placement, the Corporation, upon satisfaction of the Escrow Release Conditions, shall pay eligible arm’s length parties (each a “Finder”): (i) a cash fee of 6% of the aggregate value of Subscription Receipts sold pursuant to the Private Placement in respect of subscriptions referred to the Corporation or directly sourced by the Finder and issued on the closing of the first tranche of the Private Placement; and (ii) a number of Finders warrants (each a “Finder Warrant“) equal to 8% of the Subscription Receipts sold that were referred to or directly sourced by the Finder to the Corporation. The Finder Warrants will be issued on the same terms as the Warrants.
The Corporation intends to use the net proceeds raised under the Private Placement entirely to fund the Proposed Transaction.
Certain officers and a director of the Corporation subscribed for an aggregate of 750,000 Subscription Receipts pursuant to the Private Placement, for total aggregate proceeds of $375,000. As a result of this insider participation, the Private Placement constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (“MI 61-101”). Neither the Corporation, nor to the knowledge of the Corporation after reasonable inquiry, a related party, has knowledge of any material information concerning the Corporation or its securities that has not been generally disclosed. The Private Placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as it was a distribution of securities for cash and neither the fair market value of the Subscription Receipts distributed to, nor the consideration received from, interested parties exceeded $2,500,000. The Corporation did not file a material change report more than 21 days before the expected closing of the Private Placement because the details of the participation therein by related parties of the Corporation were not settled until shortly prior to the first closing of the Private Placement and the Corporation wished to close on an expedited basis for business reasons.
The Proposed Transaction is subject to a number of conditions, including, without limitation, approval of the TSX Venture Exchange. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Bragg Gaming
Bragg Confirms Cyber Attack – Hackers Access Internal IT Systems

Bragg Gaming Group, a leading online gaming technology provider, has confirmed a major cybersecurity incident that compromised its internal IT infrastructure in the early hours of Saturday, August 16, 2025.
The company detected unauthorized intrusion attempts that successfully breached its internal network, triggering an immediate and comprehensive incident response.
Key Takeaways
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Bragg Gaming Group experienced a cybersecurity breach involving access to internal IT systems.
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No customer personal data or payment information appears to have been compromised.
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The company has enacted full containment and investigation protocols.
Details of the Breach
According to a preliminary forensic analysis by Bragg’s internal security team, the attack was a targeted breach aimed at the company’s internal computer environment. While the exact method of intrusion is still under investigation, early indicators suggest a sophisticated exploit of internal network vulnerabilities.
Fortunately, the company’s customer-facing systems, including sensitive user data and financial information, appear to have been unaffected. Bragg’s existing encryption protocols and access control systems successfully prevented the attackers from accessing customer information.
Immediate Response Measures
In response to the breach, Bragg launched a multi-tiered containment strategy, including:
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Network Segmentation to isolate affected systems
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Enhanced Monitoring of data flows across its Remote Games Server (RGS) platform
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Security Audits of critical infrastructure, including the Bragg Hub and PAM systems
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Engagement of Independent Cybersecurity Experts to assist in incident analysis and system hardening
Bragg’s Security Operations Center has also elevated its alert level, initiating 24/7 monitoring across all server clusters and network endpoints. In addition, company-wide penetration testing is now underway to proactively identify any residual vulnerabilities.
Business Continuity Maintained
Despite the severity of the breach, Bragg reports that its operations remain unaffected. All gaming services, including iCasino and sportsbook offerings across regulated markets, continue to function without disruption.
“While this incident is deeply concerning, we are confident in the rapid and thorough response initiated by our team,” a company spokesperson stated. “We remain committed to protecting our infrastructure, our partners, and most importantly, our players.”
Looking Ahead
As part of its response, Bragg has also launched mandatory security awareness training for all employees to reinforce best practices and prevent future incidents.
Cybersecurity analysts will continue working with Bragg to determine the full scope of the attack, improve system resilience, and maintain the trust of its users and stakeholders.
Bragg’s handling of the incident highlights both the evolving nature of cybersecurity threats and the importance of robust, responsive defense systems in the digital gaming sector.
Source: cybersecuritynews.com
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AGCO
AGCO Removes Cap on Seller Commission for Charitable Lottery Products

The Alcohol and Gaming Commission of Ontario (AGCO) has updated several lottery policies to remove the cap on seller commission for Paper Raffles and Media Bingo, along with removing the prohibition on Catch the Ace paper lotteries, to align with other charitable lottery products.
Licensed charities may now negotiate commissions directly with sellers and determine commissions, provided they are reasonable and tied to the cost of service provided by the seller.
These updates further the AGCO’s commitment to adopt an outcomes-based regulatory approach and reduce burden for the charitable gaming sector. Local charitable organizations will have greater flexibility to make decisions that best serve their fundraising objectives.
Important Reminders
• Charities must still receive approval for other expenses incurred under their licence and retain receipts for seller commission paid.
• Licensing authorities will not require documentation to be submitted as part of the application process, however, charities are still subject to audit to determine compliance.
• Charities are reminded of their legal requirement to meet their obligations under the Criminal Code and with respect to conducting and managing a charitable gaming scheme.
• As with all licensed charitable lottery events, charities must take the necessary steps to ensure that they are conducting and managing the lottery event within Ontario.
For charitable gaming-related inquiries, email an AGCO Eligibility Officer at [email protected] or call AGCO Customer Service at 1-800-522-2876, Monday to Friday from 8:30 a.m. to 5 p.m.
The post AGCO Removes Cap on Seller Commission for Charitable Lottery Products appeared first on Gaming and Gambling Industry in the Americas.
Alon Segev
Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation

Leading business, technology, finance, and gaming law firm, Segev LLP, is proud to announce its 10th anniversary. Over the past decade, Segev has evolved from a bold idea into a multi-jurisdictional firm serving clients across Canada, the U.S., and beyond.
Built for innovation-driven industries, the firm is widely recognized for its work with companies at the forefront of gaming, crypto, technology, and emerging sectors. “Our 10-year anniversary is a defining moment,” said Founding Partner, Ron Segev. “It’s a testament to the strength of our team and our culture of teamwork, self-improvement, and growth – all of which is directed at scoring wins for our great clients.”
As industries like fintech, crypto, iGaming, and AI have matured, so has the firm, often in parallel with its clients. “We’ve all grown together with our clients from one success to the next, whether it be helping clients complete financings or helping them close business,” said Managing Partner Alon Segev. “I look forward to continued growth for us and our clients in the next 10 years!”
The firm’s client-first approach has consistently earned recognition from top legal ranking guides. Segev LLP is ranked by Chambers and Partners as a “Leading Firm” and “Band-1” in Canada for Gaming Law and are also recommended by The Legal 500 and Lexology. These rankings reflect the team’s ability to deliver strategic, high-quality legal solutions that align with their clients’ business goals.
Recognized for their unique ability to exceed expectations and deliver out-of-the-box solutions, Segev LLP’s clients have affirmed: “The firm demonstrates its capability not only to understand complex matters, but also to offer solutions that are practical, pragmatic, and value-adding.”
“Segev possesses outstanding resources and maintains global partnerships, enabling it to deliver precise and informed responses to any queries related to the iGaming industry.”
“Epic service, very good, I won the case!”
“Great service, friendly atmosphere, and support.”
Several Segev team members also reflected on the milestone: “There was a moment early in my time here when I realized I wasn’t just being brought in to help; I was expected to contribute, take initiative, and run with big ideas. That stuck with me,” said Negin Alavi.
“Together with our clients, [Segev] has experienced remarkable growth over the past decade. I’m honored to have contributed to this journey and to celebrate these shared successes,” said David McHugh.
“Segev has cultivated a thriving law practice on the principle that challenges are to be embraced as opportunities. The approach has enabled us to grow as lawyers, but more importantly, it has enabled us to ensure the success of our clients,” said Mark Balestra.
“Since joining through Segev’s Ontario expansion, I’ve had the chance to work alongside some of the sharpest and most collaborative lawyers in the gaming space,” added Manav Bhargava. “As a full-service firm and industry leader, Segev stands out for its ability to support innovative businesses with practical, forward-thinking legal advice.”
Segev LLP will commemorate the anniversary with a series of internal and external initiatives throughout the remainder of the year.
The post Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation appeared first on Gaming and Gambling Industry in the Americas.
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