FansUnite Completes Sale of Betting Hero to Hero Group Corp., Declares Distribution and Sets Date for TSX Delisting
FansUnite Completes Sale of Betting Hero to Hero Group Corp., Declares Distribution and Sets Date for TSX Delisting
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - FansUnite Entertainment Inc. (TSX: FANS) (OTCQB: FUNFF) ("FansUnite" or the "Company") is pleased to announce that, further to its news release dated June 27, 2024, FansUnite completed the sale of all of the issued and outstanding shares of FansUnite US Inc. ("FansUS"), a wholly-owned subsidiary of FansUnite that carries on its Betting Hero business, to Hero Group Corp. (the "Purchaser") for an aggregate purchase price of US$37.5 million, adjusted on a cash-free, debt-free basis (the "Transaction").
Newsfile Corp.于2024年8月15日发布消息 -- FansUnite Entertainment Inc. (TSX: FANS) (OTCQB: FUNFF) (以下简称“公司”)兴高采烈地宣布完成了截至2024年6月27日发布的新闻稿后的交易事项,以现金不含负债形式向Hero Group Corp.(以下简称“购买方”)出售FansUnite US Inc.(以下简称“FansUS”)的全部发行股份和流通股份,FansUS是FansUnite的全资子公司,经营着其Betting Hero业务,并以3,750万美元作为总购买价值。(以下简称“本次交易”)。
As previously announced, the Purchaser is controlled 60% indirectly by Betting Hero's co-founders, Jai Maw and Jeremy Jakary (the "Betting Hero Co-Founders"), and 40% by GeoComply Solutions Inc.
如先前宣布的那样,购买方受Betting Hero的联合创始人Jai Maw和Jeremy Jakary(以下简称“Betting Hero联合创始人”)间接控制60%,GeoComply Solutions Inc.控制40%。
Scott Burton, FansUnite's Chief Executive Officer, Director and Chairman of the board of directors (the "Board"), commented, "The completion of this sale represents the culmination of a tremendous amount of effort from the entire FansUnite team, and I am proud of what we have accomplished. I extend my sincere thanks to our shareholders for their support throughout this journey. I also want to acknowledge the exceptional efforts of our Board, advisors, and legal teams, whose dedication was vital in bringing this transaction to a close. We wish the Betting Hero and GeoComply teams continued success and look forward to exploring new opportunities that will create value for our shareholders."
FansUnite的首席执行官、董事兼董事会主席Scott Burton评论道:“这次交易的完成代表着整个FansUnite团队的巨大努力的努力的成果,我为我们所取得的成就感到骄傲。我向我们的股东表示衷心的感谢,感谢他们在这段历程中的支持。我还要感谢我们的董事会、顾问和法律团队的卓越努力,他们的奉献在结束这次交易方面是至关重要的。我们祝愿Betting Hero和GeoComply团队继续取得成功,并期待探索将为我们股东创造价值的新机会。”
TSX Delisting
TSX退市
In connection with the closing of the Transaction, the Company expects the Toronto Stock Exchange ("TSX") to delist the common shares of FansUnite on August 21, 2024 (the "Delisting") and accordingly trading of FanUnite's common shares will cease in the Canadian public market. The Company will apply to withdraw the quotation of its common shares from the OTCQB as soon as possible after the Delisting. The Transaction and the Delisting remain subject to final acceptance by the TSX.
随着交易的完成,公司预计多伦多证券交易所(TSX)将于2024年8月21日(以下简称“退市日期”)退市FansUnite的普通股,因此FansUnite的普通股交易将在加拿大公共市场上停止。公司将尽快申请从OTCQb撤回其普通股的报价。该交易和退市仍需TSX的最终批准。
Distribution
当期
FansUnite is pleased to announce the distribution of a portion of the net proceeds of the Transaction (after payment or discharge of certain obligations and liabilities of FansUnite and FansUS, including those associated with the Transaction or otherwise) to its shareholders as a return of capital (the "Distribution").
FansUnite很高兴宣布将会向股东分配交易净收益的一部分(在支付或偿还FansUnite和FansUS的某些义务和负债后,包括与交易有关或其他方面的义务和负债)作为资本回报(以下简称“分配”)。
The Distribution is expected to be an aggregate amount of C$26 million, and shareholders are expected to receive C$0.0725 per each common share held as of the record date. The record date to determine shareholders entitled to receive the Distribution will be at the end of business on August 26, 2024 in order to allow trades to settle following the Delisting. As a result, only shareholders of record on the date of the Delisting will be entitled to the Distribution. The payment date for the Distribution will be on or about August 29, 2024.
分配金额预计为2600万加元,每个持有记录日当天数的股东预计将获得每股0.0725加元。确定股东权益份额的记录日期将在2024年8月26日营业结束时结束,以便在退市后有足够的时间处理交易。因此,只有在退市日期当天持股的股东才有权获得股息分配。分配的付款日期预计为2024年8月29日。
Key dates for the Delisting and Distribution are expected to be:
退市和分配的重要日期预计有:
Delisting Date: | August 21, 2024 |
Distribution Record Date: | August 26, 2024 |
Distribution Payment Date: | August 29, 2024 |
退市日期: | 2024年8月21日 |
分配记录日期: | 2024年8月26日 |
分配支付日期: | 2024年8月29日 |
FansUnite Following the Transaction
FansUnite交易后
FansUnite expects to retain net cash of approximately C$500,000 to explore new business opportunities for the economic benefit of its shareholders who will continue to maintain their interest in FansUnite following completion of the Distribution.
FansUnite预计保留大约50万加元的净现金,以探索新的商业机会,从而使其股东继续在分配完成后保持对FansUnite的利益。
Advisors and Counsel
顾问和法律顾问
Stifel acted as exclusive financial advisor to FansUnite, and BDO acted as independent valuator and financial advisor to the Special Committee. DLA Piper (Canada) LLP and DLA Piper LLP acted as FansUnite's Canadian and United States legal counsel. Laurel Hill Advisory Group acted as FansUnite's Shareholder Communications Advisor. Stikeman Elliot LLP acted as legal counsel to the Special Committee. Fenwick & West LLP acted as the Betting Hero Co-Founders' legal counsel. Blake, Cassels & Graydon LLP and Morrison & Foerster LLP acted as GeoComply's Canadian and United States legal counsel.
Stifel担任FansUnite的独家财务顾问,BDO担任特别委员会的独立估值师和财务顾问。DLA Piper (Canada) LLP和DLA Piper LLP担任了FansUnite在加拿大和美国的法律顾问。Laurel Hill Advisory Group担任了FansUnite的股东沟通顾问。Stikeman Elliot LLP担任特别委员会的法律顾问。Fenwick & West LLP担任Betting Hero联合创始人的法律顾问。Blake, Cassels & Graydon LLP和Morrison & Foerster LLP担任GeoComply在加拿大和美国的法律顾问。
FORWARD-LOOKING STATEMENTS
前瞻性声明
This news release contains "forward-looking information" which may include, but is not limited to, information with respect to the activities, events or developments that FansUnite expects or anticipates will or may occur in the future. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Such forward-looking information includes, among other things, information regarding: the anticipated Distribution of approximately C$0.0725 per common share in the capital of FansUnite, and the anticipated timing for completion of the Delisting, withdrawal from the OTCQB designation and the Distribution. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to FansUnite. Although such statements are based on assumptions management considers reasonable, there can be no assurance: (i) that FansUnite will voluntarily delist its common shares from the TSX and withdraw from the OTCQB designation; (ii) that the proposed Distribution will be made; or (iii) if the proposed Distribution is made, as to the amount or terms of such Distribution.
本新闻发布中包含“前瞻性财务信息”,可能包括FansUnite预计或预测的将来活动、事件或发展的信息。这种前瞻性财务信息通常通过使用“计划”、“预期”、“预期”、“预算”、“安排”、“估计”、“预测”、“打算”、“期望”、“相信”或这些话语的变化(包括消极变化)来识别,或状态某些行动、事件或结果“可能”、“可能”、“可能”、“可能”或“将要”被采取、发生或实现。这种前瞻性财务信息包括,但不限于,关于:FanUnite未来分配的约0.0725加元/每股的预期及退市、退出OTCQb标志和分配完成的预期时间的信息。通常在制定前瞻性财务信息的结论或预测时会应用各种假设或因素。这些假设和因素是基于FansUnite现有的信息进行的。虽然这样的陈述是基于管理层认为合理的假设进行的,但不能保证:(i)FansUnite将自愿从TSX退市并退出OTCQb标志;(ii)所提出的分配将得到实施;或者(iii)如果所提出的分配得到实施,则在金额或条款方面。
Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the completion of the Delisting and withdrawal from the OTCQB designation and that the Distribution will be made. While FansUnite considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other risk factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, capitalization and liquidity risks. Although FansUnite has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. FansUnite undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors change.
本新闻发布包含基于在关于等方面的特定假设或因素的前瞻性文本的某些因素和假定:从交易所并退出OTCQb标志退出和分配将实行。虽然FansUnite认为这些假设是合理的,但他们可能被证明是错误的。前瞻性信息包括已知和未知的风险、不确定性和其他风险因素,其可能导致实际结果、表现或成就与前瞻性信息中表达或暗示的任何未来结果、表现或成就存在实质性差异。这样的风险包括与竞争加剧和当前全球金融状况、访问和供应风险、对关键人员的依赖、运营风险、监管风险、资本化和流动性风险相关的风险。虽然FansUnite试图确定可能导致实际结果与前瞻性信息不同的重要因素,但还可能有其他因素导致结果与预期、估计或意图不同。因此,读者不应过度依赖前瞻性信息。除非法律另有规定,否则FansUnite无义务在管理层的信念、估计或意见或其他因素发生变化时更新这些前瞻性声明。
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
TSX未审核本新闻稿内容的充分性和准确性,也不承担任何责任。
For further information, please contact:
FansUnite Entertainment Inc.
ir@fansunite.com
如需更多信息,请联系:丹·努恩(Dan Noone)
FansUnite Entertainment Inc.
ir@fansunite.com