EMI .. an/out ....
Emerge Completes Placement to underpin ArcadeX LaunchHighlights:
● Emerge Gaming has successfully completed a placement to raise $1.8 million
● Placement strongly supported by institutional, sophisticated and strategic investors in the
online gaming industry
● Emerge fully funded for multiple initiatives specifically:
- Accelerated roll out of the GameCloud game streaming technology;
- Roll out of the ArcadeX VAS model across Africa; and
- The launch of ArcadeX across Australia and other tier 1 markets
Emerge Gaming Limited (ASX: EM1) (“Emerge Gaming” or the “Company”) is pleased to announce that firm acceptances have been received for a share placement to raise $1.8 million before costs (Placement).
The Placement
The Placement of 60,000,000 shares will be issued at a price of 3.0 cents which represents a 11.9% discount to the volume weighted average price over the last five days of trade prior to the Company’strading halt on 26 March 2019. Investors who subscribed under the Placement will also receive one (1) free attaching EM1O listed option for every two (2) Placement shares issued. The EM1O options are exercisable at $0.02 on or before 18 April 2021.
Placement shares issued under the Placement will rank equally with existing fully paid ordinary sharesand will be issued within Emerge Gaming’s existing placement capacity under ASX Listing Rule 7.1 and 7.1A. Accordingly, no shareholder approval is required for the Placement.
Funds raised from the Placement will underpin the successful rollout of Emerge Gaming’s key offeringsi.e. ArcadeX and GameCloud.
ArcadeX and GameCloud Initiatives
