ePlay Digital cancels warrants, options ePlay Digital Inc (C:EPY)
Shares Issued 44,439,444
Last Close 5/31/2017 $0.14
Thursday June 1 2017 - News Release
Mr. Trevor Doerksen reports
EPLAY SHAREHOLDER VALUE OPTIMIZED AS COMPANY PREPS NEW SPORTS APPS
In conjunction with its recent corporate restructuring and concentration on its Mobovivo sports game engine, ePlay Digital Inc. continues efforts to increase shareholder value by cancelling dilutive derivative securities. The company has cancelled a further 6,625,646 performance warrants exercisable at 20 cents per share that were issued to the company's president and further announced that it has eliminated the 3.4 million shares (97 per cent) of the share option plan issuance announced earlier this month exercisable at 17 cents per share.
Through these actions, and those relating to the recent sale of a subsidiary, issued and outstanding shares of ePlay Digital have been decreased by over 12 per cent, while fully diluted shares and derivative securities have decreased by over 40 per cent and 78 per cent, respectively.
Concurrently, the company reduced management expenses by tens of thousands of dollars per month by selling the prerevenue and unlaunched TV network subsidiary to focus on the company's e-sports and sports game technology.
"It is important to create an engine for growth of shareholder value," said Trevor Doerksen, president of ePlay Digital. "As we ramp up ePlay sales efforts and multiple deployments of our sports and prediction game engine, it's fundamental that our share structure also be an engine to facilitate share price appreciation and increase shareholder value."
Before and after share capital of ePlay Digital is summarized in the table as of June 1, 2017.
ePlay share capital Before June 1, 2017 Issued and outstanding shares 50,870,694 44,439,444 Performance warrants @$0.20/share 29,856,759 3,045,113 Warrants @0.40/share 4,809,770 4,809,770 Share options @$1.25/share 150,000 150,000 Share options @$0.32/share 444,595 444,595 Share options @$0.17/share 3,500,000 100,000 Fully diluted shares 89,631,818 52,988,922
About ePlay Digital Inc.
ePlay Digital develops real-time fan engagement technologies that enable TV networks, venues, teams, leagues and brands to evolve and meet the demands of today's highly engaged audiences. ePlay bridges the gap between traditional broadcast and dynamic, next-generation multiplatform networks that deliver interactive content, live streaming, augmented reality, fantasy sports and social media across multiple devices.
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