Toronto, Ontario--(Newsfile Corp. - April 21, 2023) - NorthStar Gaming Holdings Inc. (TSXV: BET) (the "Company", "NorthStar" or "NGHI") is pleased to announce is has entered into an advisory agreement (the "Agreement") with Blue Sky Trading & Consulting Ltd. ("Blue Sky") to provide advisory services to NorthStar relating to capital markets, including capital raising and mergers & acquisitions.
The Agreement is effective March 24, 2023, and has an initial term of six months beginning on the date hereof (the "Term") and may be terminated by either party upon ten days written notice. The Term may be extended by either party upon mutual agreement between NorthStar and Blue Sky.
In consideration of the services provided by Blue Sky pursuant to the Agreement, Blue Sky will receive C$55,000 per month, payable in the common shares of NorthStar. At no point will Blue Sky receive greater than 1,000,000 NorthStar common shares over the course of the term, or 166,666 shares in any one month. Shares will be priced at at least the discounted market price on the date the invoice for services is provided in arrears.
The Agreement is subject to the Company's filing requirements with the TSX.V and TSX.V approval.
For more information on NorthStar Gaming and its current partners, please visit www.northstargaming.ca.
About NorthStar
NorthStar proudly owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores directly in the betting environment along with the most popular online casino games.
A Canadian company, NorthStar is uniquely positioned to become a convergence leader in the intersection of sports media and sports wagering thanks to its partnerships and agreements with leading media companies. NorthStar is committed to operating at the highest level of responsible gaming standards.
Forward-Looking Information
This communication contains "forward-looking information" within the meaning of applicable securities laws in Canada. Forward-looking information may relate to future events or future performance of NSG. All statements in this communication, other than statements of historical facts, with respect to NSG's objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this communication include, but are not limited to: expectations regarding certain of NSG's future results and information, including, among other things, revenue, expenses, revenue growth, capital expenditures, and operations; risk factors relating to national or international economies (including the impact of COVID-19), and other risks present in the jurisdictions in which NSG, its customers, its partners, and; statements with respect to expected use of cash balances; continuation of prudent management of working capital; source of funds for ongoing business requirements and capital investments; expectations regarding sufficiency of the allowance for uncollectible accounts; analysis regarding sensitivity of the business to changes in exchange rates; impact of recently adopted accounting pronouncements; risk factors relating to intellectual property protection and intellectual property litigation; and, expectations concerning any remediation efforts to NSG's design of its internal controls over financial reporting and disclosure controls and procedures. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. NSG believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information included in this discussion and analysis should not be unduly relied upon. Information contained in forward-looking statements in this communication is provided as of the date hereof and NSG disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable securities laws.
For further information:
NorthStar Gaming
Ben Powell
VP Corporate Development
Ben.powell@northstargaming.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163427
