Playgon (TSX.V: DEAL) (OTCQB: PLGNF), a propriety Software as a Service (“SaaS”) technology company delivering mobile live-dealer technology to online gaming operators globally, has announced its intentions for a nonbrokered private placement. The company plans to complete the placement of units of the company offered at $0.30 per unit with gross proceeds reaching up to $5 million. The announcement noted that each unit would include one common share and one-half of one common share purchase warrant, with each whole warrant granting the holder the right to acquire an addition common share at $0.50 per common share; the holder will have that right for 24 months after the closing date of the proposed offering. The company intends to use net proceeds from the placement for a variety of purposes, including helping to fund sales and marketing programs for global expansion as well as additional software engineering, product design, customer support and team leadership. The funds may also be used to increase IT infrastructure, dealer staff and support staff and new studio locations as well as to support strategic initiatives that include corporate licensing and certification. The company expects to close the proposed offering within the next couple of weeks.
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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. Its 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, the company’s 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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