Category: Baystreet Newswire
Date: Thursday, September 04, 2014
Vancouver, BC, Canada / ACCESSWIRE / September 4th, 2014 / DraftTeam Fantasy Sports Inc. ("DraftTeam" or "the Company")(CSE:DFS)(OTCPink:DTFS-F) wishes to announce that it has completed the non-brokered private placement previously announced on July 30th, 2014, and has issued an aggregate of 7,500,000 units at a price of $0.08/Unit for gross proceeds of $600,000.
In connection with this financing, the Company has paid finder's fees consisting of $6,360 cash and the issuance of 79,500 share purchase warrants ("Finder's Warrants"). Each of the Finder's Warrants are exercisable into a common share of the Company at $0.12 per share for a period of twelve months from the date of issuance, subject to forced acceleration whereby the exercise period of the Finder's Warrants can be shortened to 30 days in the event the Company's shares close at a price of $0.20 or higher per share on the Canadian Securities Exchange (or such other stock exchange as the majority of the trading volume of the Company's shares occur) for 10 consecutive trading days.
All securities issued pursuant to this financing are subject to a Canadian hold period expiring January 4th, 2015.
About DraftTeam Fantasy Sports Inc.
DraftTeam Fantasy Sports Inc. (www.DraftTeam.com) is a digital entertainment company focusing on fantasy sports and social gaming. Using its proprietary social gaming platform, DraftTeam currently offers daily fantasy sports contests on its web property DraftTeam.com.
Transcend Resource Group: 604-681-0084 Etienne Moshevich Email: IR@DraftTeam.com
For and on behalf of the board of DraftTeam Fantasy Sports Inc.
Michael Young, President
Neither the Canadian Securities Exchange nor its regulations services accepts responsibility
for the adequacy or accuracy of this release.
SOURCE: DraftTeam Fantasy Sports Inc.