(TSXV-PGV)
TORONTO, July 7, 2017 /CNW/ - Prodigy Ventures Inc. (TSXV: PGV)
("Prodigy" or the "Company") today announced that it has terminated its engagement with Gravitas Securities
Inc., in connection with its previously announced best efforts private placement of units.
As evidenced by the Company's first quarter financial results, the Company continues to be profitable and had cash and cash
equivalents of approximately $1.63 million as at July 1, 2017. Based
on the foregoing and the current market conditions, the board of directors has determined that it is not in the best interest of
the Company to complete a financing at this time.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Prodigy Ventures Inc.
Prodigy Ventures is an innovation company that has combined an enterprise services business - Prodigy Labs - with a Venture
Builder business. The two businesses work together to sell services and create new enterprise-grade platforms and apps using
technologies such as mobile video, proximity, wearables, 3D & augmented reality.
Prodigy has been named as one of Canada's fastest growing technology companies in the 19th
annual Deloitte Technology Fast 50™ awards for demonstrating bold innovation, dedicated leadership and strong growth.
Prodigy also ranked on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media,
telecommunications, life sciences and energy tech companies in North America.
Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking statements are
often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect",
"may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains
forward-looking statements in respect of among other things, the Company's continued profitability. Although the Company believes
that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information
obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been
correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can
be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By
their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute
to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may
cause actual results in future periods to differ materially from any estimates or projections of future performance or results
expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors
set forth in the Company's Management's Discussion and Analysis for the period ended March 31,
2017, a copy of which is filed on SEDAR at www.sedar.com. Readers are
cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof
and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking
statements.
SOURCE Prodigy Ventures Inc.
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