TRANSGLOBE AND 1WONDR GAMING ANNOUNCE CLOSING OF CONVERTIBLE DEBENTURE OFFERING
TORONTO, ONTARIO, CANADA, March 15, 2021 /EINPresswire.com/ -- Transglobe Internet and Telecom Co., Ltd. ("Transglobe" or the "Company") and 1Wondr Gaming Corporation (“1Wondr”) are pleased to announce the closing of a non-brokered financing in units of 1Wondr (the “Units”) for gross proceeds of $1,000,000 (the “Offering”). Each Unit consists of one secured convertible debenture in the principal amount of $1,000 (the “Convertible Debenture”) and 2,000 common share purchase warrants, each warrant entitling the holder thereof to acquire one common share at an exercise price of $0.40 expiring twenty-four months from the closing.
The principal of each Convertible Debenture, plus any accrued interest, can be converted by the holder into common shares of 1Wondr at a conversion price of $0.25. The Convertible Debentures carry an annual interest rate of 10% and mature sixty days following the completion of a going public transaction (the “Proposed Transaction). Further, following completion of a going public transaction, 1Wondr can elect to pre-pay the entire amount outstanding under the Convertible Debentures on fifteen business days’ notice to the holder. In connection with the closing of the Offering, 1Wondr paid finder fees of $40,000 and issued 160,000 finder warrants exercisable at a price of $0.40 and expiring twenty-four months from the closing.
All securities issued in connection with the Offering are subject to an indefinite hold in accordance with applicable securities laws.
1Wondr Gaming has now raised approximately $12.4 million to date through its financing efforts since inception in anticipation of completion of the Proposed Transaction.
1Wondr Gaming unites brands and the global gaming community through loyalty and rewards. The company works with professional esports teams, gamers, influencers and professional athletes through curated media and social media campaigns to drive users to its platform.
“We are very fortunate to have the continued support of First Republic Capital Corporation, Canaccord Genuity and others as we build 1Wondr Gaming into a leader in esports loyalty and rewards. Our vision for the future will bring the world’s top gamers & professional athletes together with leading brands to provide exclusive offerings for our community of subscribers” - Jon Dwyer, CEO - 1Wondr Gaming.
1Wondr Gaming continues to work with Transglobe in completing its going public transaction as previously announced.
For more information, please contact:
TransGlobe Internet and Telecom Co., Ltd.
Binyomin Posen
Chief Executive Officer, Chief Financial Officer, and Director
Email: bposen@plazacapital.ca
1Wondr
Jonathan Dwyer
Chief Executive Officer
Email: jon@wondrgaming.com
Forward Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the closing of the Proposed Transaction, the conditions to completing the Proposed Transaction, timing and receipt of regulatory and exchange approvals, and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. As a result, there can be no assurance that the Proposed Transaction will be completed as proposed or at all. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. The forward-looking statements in this press release include the Company's intentions regarding the completion of the Proposed Transaction. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to continue operations if the Proposed Transaction is not completed, the Company's ability to raise further capital, the Company's ability to obtain regulatory and exchange approvals, and the Company's ability to complete the Proposed Transaction. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
The principal of each Convertible Debenture, plus any accrued interest, can be converted by the holder into common shares of 1Wondr at a conversion price of $0.25. The Convertible Debentures carry an annual interest rate of 10% and mature sixty days following the completion of a going public transaction (the “Proposed Transaction). Further, following completion of a going public transaction, 1Wondr can elect to pre-pay the entire amount outstanding under the Convertible Debentures on fifteen business days’ notice to the holder. In connection with the closing of the Offering, 1Wondr paid finder fees of $40,000 and issued 160,000 finder warrants exercisable at a price of $0.40 and expiring twenty-four months from the closing.
All securities issued in connection with the Offering are subject to an indefinite hold in accordance with applicable securities laws.
1Wondr Gaming has now raised approximately $12.4 million to date through its financing efforts since inception in anticipation of completion of the Proposed Transaction.
1Wondr Gaming unites brands and the global gaming community through loyalty and rewards. The company works with professional esports teams, gamers, influencers and professional athletes through curated media and social media campaigns to drive users to its platform.
“We are very fortunate to have the continued support of First Republic Capital Corporation, Canaccord Genuity and others as we build 1Wondr Gaming into a leader in esports loyalty and rewards. Our vision for the future will bring the world’s top gamers & professional athletes together with leading brands to provide exclusive offerings for our community of subscribers” - Jon Dwyer, CEO - 1Wondr Gaming.
1Wondr Gaming continues to work with Transglobe in completing its going public transaction as previously announced.
For more information, please contact:
TransGlobe Internet and Telecom Co., Ltd.
Binyomin Posen
Chief Executive Officer, Chief Financial Officer, and Director
Email: bposen@plazacapital.ca
1Wondr
Jonathan Dwyer
Chief Executive Officer
Email: jon@wondrgaming.com
Forward Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the closing of the Proposed Transaction, the conditions to completing the Proposed Transaction, timing and receipt of regulatory and exchange approvals, and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. As a result, there can be no assurance that the Proposed Transaction will be completed as proposed or at all. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. The forward-looking statements in this press release include the Company's intentions regarding the completion of the Proposed Transaction. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to continue operations if the Proposed Transaction is not completed, the Company's ability to raise further capital, the Company's ability to obtain regulatory and exchange approvals, and the Company's ability to complete the Proposed Transaction. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Binyomin Posen
Transglobe Internet and Telecom Co., Ltd.
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