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Rivalry Corp. Satisfies Escrow Release Conditions Ahead of Listing on the TSX Venture Exchange

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4 years ago

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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.

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Maverick Games Launches Sports Betting Operations in Ontario

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13 hours ago

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June 16, 2025

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Maverick Games has launched sports betting operations in Ontario, through a partnership with Delasport.

Maverick Games will offer Ontarian players a premium sports betting experience, built on Delasport’s superior technology and known for its unique innovative features that players love including personalization, recommendations, gamification, quick bets, player engagement features, and more.

Maverick Games is the second brand to launch on Delasport’s technology in Ontario, with another full turnkey brand set to go live soon. Delasport also recently unveiled its innovative sports betting jackpot network game, SuperPot. The company will showcase this unique product at the Canadian Gaming Summit next month and begin rolling it out to Ontarian operators shortly thereafter.

“We are proud to see Maverick Games live and thriving with our one of a kind sportsbook solution at its core. They have been a fantastic partner from the start, and this launch further demonstrates how fast and efficient our technology is when paired with a clear vision and strong collaboration,” said Rosaire Galea Cavallaro, VP of Business Development at Delasport.

“Maverick Games’s sports vertical is a major step forward for us and launching it with Delasport has been the right move from day one. The platform’s performance and flexibility allow us to deliver the kind of user experience we believe Ontario players deserve. We’re excited to now bring that vision to life,” CEO Matt Rathbun said.

The post Maverick Games Launches Sports Betting Operations in Ontario appeared first on Gaming and Gambling Industry in the Americas.

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Tsleil-Waututh Nation Signs MoU to Acquire Casino Business at Hastings Racecourse & Casino

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6 days ago

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June 11, 2025

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Tsleil-Waututh Nation (TWN) announced that it has signed a Memorandum of Understanding to acquire the casino business and related real property interests at Hastings Racecourse & Casino (Hastings) in the City of Vancouver from Great Canadian Gaming Corporation (Great Canadian Entertainment).

“We are thrilled to take another important step towards economic self-determination for our Nation in our traditional territory, and we are eager to work with the senior management team at Great Canadian Entertainment to finalize due diligence and execute a definitive agreement, as well as working with the City of Vancouver to ensure the best long-term use of this important asset within the City. We believe that this opportunity is historic for us in many ways, and we look forward to entering the gaming industry in due course,” said Jen Thomas, Chief of the Tsleil-Waututh Nation.

“We are excited about working with TWN on their potential acquisition of the casino operations and related real property interests at Hastings Racecourse & Casino. Recognizing that Hastings is part of the TWN’s traditional territory, we can think of no better entity to inherit this asset, and we look forward to supporting them in the transition after the anticipated close of the sale,” Matt Anfinson, Chief Executive Officer of Great Canadian Entertainment.

The agreement is subject to further due diligence, finalization of financial terms and the execution of a definitive purchase and sale agreement. Once a definitive agreement has been executed by the parties, it is anticipated that the transaction will be subject to customary closing conditions as well as customary approvals by gaming regulatory and other authorities, including certain approvals by the City of Vancouver given its ownership of the real property. It is expected that Great Canadian Entertainment will provide transition services to TWN for a period of time following the anticipated closing.

The post Tsleil-Waututh Nation Signs MoU to Acquire Casino Business at Hastings Racecourse & Casino appeared first on Gaming and Gambling Industry in the Americas.

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Ben Clemes

High Roller Submits Gaming License Application in Ontario

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3 weeks ago

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May 30, 2025

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High Roller Technologies, operator of the premium online casino brands High Roller and Fruta, announced the submission of its Internet Gaming Operator license application in Ontario, Canada, targeting the launch of its flagship brand HighRoller.com in the second half of 2025.

“The submission of our licensing application to access Ontario’s regulated online gambling market is an important milestone in our Company’s journey. Once our application is approved, we anticipate that we will have the opportunity to launch our online casino product into the market later this year,” said Ben Clemes, Chief Executive Officer at High Roller.

Ontario is one of the largest regulated online gambling markets in the world as measured by gross gaming revenue. In 2024, regulated online gambling operators within the province generated approximately $2.3B in gross gaming revenue, and growth continues to be recorded in the first half of 2025. Recently, the province of Alberta passed enabling legislation to establish a regulatory framework for online gambling. Once available, the Company also intends to pursue licensure in Alberta to expand its regulated market footprint in Canada.

“Ontario is missing an elegant brand like High Roller. We’re excited to roll out the red carpet for our new customers, and we’re looking forward to showcasing our tremendous product,” said Clemes.

The post High Roller Submits Gaming License Application in Ontario appeared first on Gaming and Gambling Industry in the Americas.

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