Playgon Games Inc V.DEAL

This Kind Of Money Put In And You Calling Chapter 11 lol

[Goldy63]

Playgon Announces Further Upsizing of Previously Announced Private Placement

V.DEAL | November 10, 2021

VANCOUVER, BC / ACCESSWIRE / November 10, 2021 /Playgon Games Inc. (TSXV:DEAL)(OTCQB:PLGNF)(Frankfurt:7CR) ("Playgon" or the "Company"), a propriety SaaS technology company delivering mobile live dealer technology to online gaming operators globally, is pleased to announce that, as a result of strong and continued investor demand and further to the Company's news releases dated October 28, 2021 and November 3, 2021, it intends to further upsize its previously announced non-brokered private placement (the "Proposed Offering") of units of the Company ("Units"). The upsized Proposed Offering is expected to be for gross proceeds of up to $10,500,000through the sale of up to 35,000,000 Units at a price of $0.30 per Unit (up from the previously announced intention to raise up to $9,000,000). Each Unit will be comprised of one common share of the Company ("Common Share") and one half of one Common Share purchase warrant ("Warrants"), with each whole Warrant entitling the holder thereof to acquire one Common Share at a price of $0.50 per Common Share for a period of 24 months from the closing date of the Proposed Offering.

"With overwhelming demand from investors, we have elected to upsize our previously announced financing to further support our growth initiatives," said Darcy Krogh, CEO of Playgon Games. "We are delighted with investor support and appreciate the vote of confidence in our team and our truly innovative mobile Live Dealer product."

The maturity date of the Warrants will be subject to prior acceleration following closing of the Proposed Offering, at the discretion of the Company, should the Common Shares trade at a price of $1.00 per share or greater for a period of 20 consecutive trading days following the Hold Period, the whole in accordance with the terms of the Warrants. Each Unit (including the underlying securities) will be subject to a hold period of four months plus one day following the closing of the Proposed Offering (the "Hold Period"). In connection with the Proposed Offering, the Company intends to pay certain finder's fees to certain registered brokers in the form of cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange (the "TSXV"), as described in the Company's press release issued on October 28, 2021.

Any net proceeds received by the Company from the Proposed Offering are intended to be used to help fund (a) sales and marketing programs for global expansion, (b) additional software engineering, product design, customer support and team leadership, (c) increases to IT infrastructure, (d) increase dealer staff and support staff, (e) new studio locations, (f) U.S. strategic initiatives including corporate licensing and certification, and (g) general working capital and corporate purposes.

To accommodate the additional investor demand, the Proposed Offering is now expected to close on or about November 12, 2021, and remains subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSXV and other customary closing conditions for transactions of this nature.

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of those laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the 1933 Act).

About Playgon Games Inc.

Playgon is a SaaS technology company focused on developing and licensing digital content for the growing iGaming market. The Company provides a multi-tenant gateway that allows online operators the ability to offer their customers innovative iGaming software solutions. Its current software platform includes Live Dealer Casino, E-Table games and Daily Fantasy Sports, which, through a seamless integration at the operator level, allows customer access without having to share or compromise any sensitive customer data. As a true business-to-business digital content provider, the Company's products are ideal turn-key solutions for online casinos, sportsbook operators, land-based operators, media groups, and big database companies.

For further information, please visit the Company's website at www.playgon.com.

For further information, contact:

Mike Marrandino, Director
Tel: [phone]
Email: [e-mail]

Virtus Advisory Group
Tel: [phone]
Email: [e-mail]

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
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