First Quarter 2022 Unaudited Financial Highlights & Subsequent Events:
- The Company continued its momentum in the first quarter of 2022 with unaudited revenue figures of over $9.0 million;
- Granted license to become a fully registered gaming related supplier in Ontario;
- American Affiliate entered Louisiana's online sports betting market;
- American Affiliate was approved for customer acquisition services in Maryland's sports betting market;
- The Company was shortlisted for five 2022 EGR North America Awards;
- Signed a MOU with Welsh bookmaker Dragon Bet.
The Company's consolidated financial statements for the year ending December 31, 2021 along with its MD&A are available under the Company's profile on SEDAR at www.sedar.com.
Normal Course Issuer Bid
FansUnite intends to file with the Canadian Securities Exchange ("CSE") a notice of intention to commence a normal course issuer bid ("NCIB") for its common shares ("Shares"). If accepted by the CSE, the Company would be permitted under the NCIB to purchase for cancellation, through the facilities of the CSE and all available Canadian markets and alternative trading platforms, up to 5% of the issued and outstanding Shares for a period of 12 months after the NCIB commences. The exact amount of Shares subject to the NCIB will be determined on the date of acceptance of the notice of intention by the CSE.
All Shares purchased by the Company under the NCIB will be purchased at prevailing market prices in accordance with the rules and policies of the CSE and applicable securities laws. The actual number of Shares that may be purchased, and the timing of any such purchases, will be determined by the Company, subject to the applicable terms and limitations of the NCIB (including any automatic share purchase plan adopted in connection therewith). All Shares acquired by the Company under the NCIB will be canceled.
Although the Company has a present intention to acquire Shares pursuant to the NCIB, the Company will not be obligated to make any purchases and purchases may be suspended by the Company at any time. The Company reserves the right to terminate the NCIB earlier if it feels it is appropriate to do so.
In connection with the NCIB, the Company intends to enter into an automatic share purchase plan with its designated broker to allow for purchases of its Shares during certain predetermined black-out periods, subject to parameters as to price and number of Shares. Outside of these predetermined black-out periods, Shares will be purchased in accordance with management's discretion, subject to applicable law.
The Company proposes to commence the NCIB because it believes that the market price of the Shares may not, from time to time, fully reflect their value and accordingly, the purchase of the Shares would be in the best interest of the Company and an attractive and appropriate use of available funds.