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.於2024年8月15日發佈消息 -- FansUnite Entertainment Inc. (TSX: FANS) (OTCQB: FUNFF) (以下簡稱「公司」)興高采烈地宣佈完成了截至2024年6月27日發佈的新聞稿後的交易事項,以現金不含負債形式向Hero Group Corp.(以下簡稱「購買方」)出售FansUnite US Inc.(以下簡稱「FansUS」)的全部發行股份和流通股份,FansUS是FansUnite的全資子公司,經營着其Betting Hero業務,並以3,750萬美元作爲總購買價值。(以下簡稱「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.
如先前宣佈的那樣,購買方受Betting Hero的聯合創始人Jai Maw和Jeremy Jakary(以下簡稱「Betting Hero聯合創始人」)間接控制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的首席執行官、董事兼董事會主席Scott Burton評論道:「這次交易的完成代表着整個FansUnite團隊的巨大努力的努力的成果,我爲我們所取得的成就感到驕傲。我向我們的股東表示衷心的感謝,感謝他們在這段歷程中的支持。我還要感謝我們的董事會、顧問和法律團隊的卓越努力,他們的奉獻在結束這次交易方面是至關重要的。我們祝願Betting Hero和GeoComply團隊繼續取得成功,並期待探索將爲我們股東創造價值的新機會。」
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.
隨着交易的完成,公司預計多倫多證券交易所(TSX)將於2024年8月21日(以下簡稱「退市日期」)退市FansUnite的普通股,因此FansUnite的普通股交易將在加拿大公共市場上停止。公司將盡快申請從OTCQb撤回其普通股的報價。該交易和退市仍需TSX的最終批准。
Distribution
當期
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很高興宣佈將會向股東分配交易淨收益的一部分(在支付或償還FansUnite和FansUS的某些義務和負債後,包括與交易有關或其他方面的義務和負債)作爲資本回報(以下簡稱「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.
分配金額預計爲2600萬加元,每個持有記錄日當天數的股東預計將獲得每股0.0725加元。確定股東權益份額的記錄日期將在2024年8月26日營業結束時結束,以便在退市後有足夠的時間處理交易。因此,只有在退市日期當天持股的股東才有權獲得股息分配。分配的付款日期預計爲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預計有:
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 |
分配記錄日期: | 2024年8月26日 |
分配支付日期: | 2024年8月29日 |
FansUnite Following the Transaction
FansUnite交易後
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預計保留大約50萬加元的淨現金,以探索新的商業機會,從而使其股東繼續在分配完成後保持對FansUnite的利益。
Advisors and Counsel
顧問和法律顧問
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擔任FansUnite的獨家財務顧問,BDO擔任特別委員會的獨立估值師和財務顧問。DLA Piper (Canada) LLP和DLA Piper LLP擔任了FansUnite在加拿大和美國的法律顧問。Laurel Hill Advisory Group擔任了FansUnite的股東溝通顧問。Stikeman Elliot LLP擔任特別委員會的法律顧問。Fenwick & West LLP擔任Betting Hero聯合創始人的法律顧問。Blake, Cassels & Graydon LLP和Morrison & Foerster LLP擔任GeoComply在加拿大和美國的法律顧問。
FORWARD-LOOKING STATEMENTS
前瞻性聲明
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.
本新聞發佈中包含「前瞻性財務信息」,可能包括FansUnite預計或預測的將來活動、事件或發展的信息。這種前瞻性財務信息通常通過使用「計劃」、「預期」、「預期」、「預算」、「安排」、「估計」、「預測」、「打算」、「期望」、「相信」或這些話語的變化(包括消極變化)來識別,或狀態某些行動、事件或結果「可能」、「可能」、「可能」、「可能」或「將要」被採取、發生或實現。這種前瞻性財務信息包括,但不限於,關於:FanUnite未來分配的約0.0725加元/每股的預期及退市、退出OTCQb標誌和分配完成的預期時間的信息。通常在制定前瞻性財務信息的結論或預測時會應用各種假設或因素。這些假設和因素是基於FansUnite現有的信息進行的。雖然這樣的陳述是基於管理層認爲合理的假設進行的,但不能保證:(i)FansUnite將自願從TSX退市並退出OTCQb標誌;(ii)所提出的分配將得到實施;或者(iii)如果所提出的分配得到實施,則在金額或條款方面。
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.
本新聞發佈包含基於在關於等方面的特定假設或因素的前瞻性文本的某些因素和假定:從交易所並退出OTCQb標誌退出和分配將實行。雖然FansUnite認爲這些假設是合理的,但他們可能被證明是錯誤的。前瞻性信息包括已知和未知的風險、不確定性和其他風險因素,其可能導致實際結果、表現或成就與前瞻性信息中表達或暗示的任何未來結果、表現或成就存在實質性差異。這樣的風險包括與競爭加劇和當前全球金融狀況、訪問和供應風險、對關鍵人員的依賴、運營風險、監管風險、資本化和流動性風險相關的風險。雖然FansUnite試圖確定可能導致實際結果與前瞻性信息不同的重要因素,但還可能有其他因素導致結果與預期、估計或意圖不同。因此,讀者不應過度依賴前瞻性信息。除非法律另有規定,否則FansUnite無義務在管理層的信念、估計或意見或其他因素髮生變化時更新這些前瞻性聲明。
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
TSX未審核本新聞稿內容的充分性和準確性,也不承擔任何責任。
For further information, please contact:
FansUnite Entertainment Inc.
ir@fansunite.com
如需更多信息,請聯繫:丹·努恩(Dan Noone)
FansUnite Entertainment Inc.
ir@fansunite.com