Playgon Games (TSX.V: DEAL) (OTC: PLGNF) (FSE: 7CR), a proprietary SaaS technology company delivering mobile live dealer technology to online gaming operators globally, intends to complete a nonbrokered unsecured convertible debenture private placement of unsecured convertible debentures and shares for debt transaction. According to the announcement, the gross proceeds of the placement would total up to C$5 million. The announcement noted that the debentures will mature 24 months following the closing of the offering with each $1,000 debenture bearing simple interest at 10% per annum; actual payment amount will be calculated semiannually on the last day of June and December each year. Playgon expects the closing of the offering to happen as soon as possible; the closing is subject to the approval of the TSX.V as well customary closing conditions for private placements. The company plans to use the net proceeds to fund ongoing sales and marketing efforts, specifically in key European jurisdictions, expansion into new markets including Latin America and North America; funds may also be used for ongoing development costs and to launch new proprietary table game content along with general working capital and corporate purposes.
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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 multitenant gateway that allows online operators the ability to offer their customers innovative iGaming software solutions. Playgon’s 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, Playgon products are ideal turnkey solutions for online casinos, sportsbook operators, land-based operators, media groups and big database companies. For more information about the company, please visit www.Playgon.com.
NOTE TO INVESTORS: The latest news and updates relating to PLGNF are available in the company’s newsroom at https://ibn.fm/PLGNF
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