TheNewswire - June 18, 2020 - Ms. Kathleen Crook announces that on June 17, 2020 she acquired 17,000,000 subscription receipts (the “Subscription Receipts”) of Global Daily Fantasy Sports Inc. (the “Company”) at a subscription price of $0.15 per Subscription Receipt for total consideration of $2,550,000 pursuant to the Company’s brokered private placement of an aggregate of 38,331,588 Subscription Receipts (the “Financing”), as described in the Company’s press release dated June 17, 2020

 

Each Subscription Receipt will automatically convert into one common share of the Company (each, a “Share”) and one common share purchase warrant of the Company (each, a “Warrant”) upon  completion by the Company of the acquisition (the “Acquisition”) of all of the outstanding shares of Playgon Interactive Inc. Each Warrant will be exercisable into one common share in the capital of the Company (each, a “Warrant Share”) at an exercise price of $0.215 per Warrant Share until the date that is 18 months. The Company will issue an aggregate of 63,333,333 common shares in the capital of the Company in connection with the Acquisition, which is expected to close June 19, 2020

 

Prior to the Financing, Ms. Crook held no securities of the Company.  After giving effect to the automatic conversion of the 17,000,000 Subscription Receipts, Ms. Crook will acquire ownership of, and control and direction over, 17,000,000 Shares and 17,000,000 Warrants representing approximately 9.65% of issued and outstanding common shares in the capital of the Company on the Escrow Release Date after the completion of the Acquisition (or 17.60 % on a partially diluted basis assuming the exercise of Ms. Crook’s Warrants).

 

Ms. Crook acquired ownership of, and control and direction over, the securities that triggered the requirement to file this press release. Ms. Crook acquired the securities of the Company for investment purposes only, and Ms. Crook may increase or decrease her beneficial ownership or control of securities in the Company as circumstances arise.

 

For further information or to obtain a copy of the early warning report filed on SEDAR, pursuant to National Instrument 62-103, please contact Mr. Krogh by telephone at 604-685-9316 or by e-mail at dkrogh@gdfsi.com.  The Company’s office is located at #1305 – 1090 W. Georgia Street, Vancouver, British Columbia, V6E 3V7.  Ms. Crook resides in the UK.