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VIP Entertainment Technologies Inc V.VIP

Alternate Symbol(s):  VETIF

VIP Entertainment Technologies Inc. is a Canada-based entertainment and gaming company offering legal real-money betting on sports, casinos, poker, and esports events in online environments. The Company’s principal business activity is the development of online poker and other sports betting products. It delivers sports betting, casino games and poker through its VIP Bets platform. In addition, it has recently launched its Free to Play platform, VIPFree2Play, which offers engagement and entertainment tools to users around the world. Its vipfree2play.com site offers products and tools for users globally with the purpose of building its player database for its eventual launch in additional jurisdictions. The Company has also launched Daily Fantasy Sports products available through Apple App Store.


TSXV:VIP - Post by User

Post by lelianicruzon Jan 23, 2024 10:26am
115 Views
Post# 35840738

$VIP Adjusts Private Placement Terms for Strategic Growth

$VIP Adjusts Private Placement Terms for Strategic Growth

In a recent development, VIP Entertainment Technologies Inc. ($VIP) has made amendments to its previously announced non-brokered private placement, signaling a strategic move to enhance its financial position for future growth. The company initially disclosed the placement on December 20, 2023, aiming to issue up to 13,000,000 units at a price of $0.05 per Unit, with gross proceeds of up to $650,000.

Under the revised terms, after meticulous calculations in accordance with Part 5A of National Instrument 45-106 - Prospectus Exemptions, VIP Entertainment Technologies Inc. will now offer 6,000,000 of the units through the listed issuer financing exemption. Simultaneously, the remaining 7,000,000 units will be made available under the appropriate exemptions outlined in NI 45-106. It's noteworthy that all other aspects of the offering will remain consistent with the initial disclosure.

Investors are likely to closely monitor how these adjusted terms align with the company's broader strategic objectives. The move suggests a nuanced approach to fundraising, reflecting management's commitment to optimizing the capital structure for sustained growth in the dynamic entertainment technology sector.

PRESS RELEASE

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