NYX GAMING GROUP LTD 11 PCT DEBS V.NYX.DB

RE:News

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NYX Gaming Group Announces Extension to Maturity Date and Partial Conversion of Convertible Debentures NYX Gaming Group Announces Extension to Maturity Date and Partial Conversion of Convertible Debentures Canada NewsWire LAS VEGAS, Nov. 17, 2016 LAS VEGAS, Nov. 17, 2016 /CNW/ - NYX Gaming Group Limited ("NYX" or the "Company") (TSX-V: NYX) announces today that it has entered into an agreement to extend the maturity date in connection with its previously issued $10,000,000 aggregate principal amount of 6.00% unsecured convertible debentures (the "Debentures"). The Debentures were originally issued on a private placement basis on November 17, 2014. The Company also announces that holders of an aggregate of $1,000,000 principal amount of Debentures have agreed to convert the principal amount of their Debentures, together with accrued interest, into ordinary shares (the "Ordinary Shares") in the capital of the Company at a conversion price equal to the closing market price of the Ordinary Shares on the TSX Venture Exchange as of the date of this release. The remaining holders under the Debentures have agreed to extend the term of the Debentures from the initial maturity date of November 17, 2016 until May 17, 2017. The Company believes the extension of the Debenture provides a less dilutive alternative for its shareholders. The terms around the extension to the maturity date remain subject to the approval of the TSX Venture Exchange.