Rivalry Successfully Completes $2 Million Non-Brokered Private Placement
TORONTO, Nov. 26, 2024 (GLOBE NEWSWIRE) — Rivalry Corp.
The Company’s Achievement in the Private Placement Market
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), a renowned sportsbook and iGaming operator catering to digital-first players, recently concluded the initial tranche of a non-brokered private placement. The Company managed to sell 12,930,707 units of the Company (the “Units”) at a price of $0.15 per Unit, amassing around $1.94 million in gross proceeds, marking a successful round of financing.
The Offering exhibits the Company’s ability to raise substantial funds through private placements, showcasing investor confidence in Rivalry’s vision and potential for growth. Through additional closings, Rivalry aims to further increase its aggregate gross proceeds to up to approximately $3 million, solidifying its financial position and fueling its expansion strategies in the competitive sportsbook and iGaming market.
This accomplishment highlights Rivalry’s dedication to maximizing shareholder value and capitalizing on emerging opportunities within the digital gaming sector. By strategically leveraging private placements, the Company demonstrates its commitment to sustainable growth and innovation, ensuring a strong foothold in the ever-evolving industry landscape.
How Rivalry’s Success Will Affect Me
As an investor or stakeholder, Rivalry’s successful completion of a $2 million non-brokered private placement signifies a positive outlook for the Company’s future. The influx of funds from the Offering can enhance operational capabilities, propel expansion initiatives, and drive value creation, potentially leading to improved financial performance and increased shareholder returns.
Furthermore, Rivalry’s ability to attract investment through private placements reflects investor confidence in the Company’s strategic direction and growth prospects, instilling trust and credibility among the investment community. This vote of confidence may positively impact the Company’s stock performance and overall market perception, potentially benefiting shareholders and stakeholders alike.
How Rivalry’s Success Will Affect the World
On a broader scale, Rivalry’s successful completion of a $2 million non-brokered private placement showcases the resilience and adaptability of businesses in the sportsbook and iGaming industry, demonstrating the sector’s capacity for innovation and growth even amidst challenging market conditions.
By securing significant funding through private placements, Rivalry sets a precedent for financial sustainability and strategic expansion within the digital gaming landscape, contributing to the evolution and competitiveness of the industry on a global scale. This success story can inspire other companies in the sector to explore alternative financing avenues and pursue strategic growth opportunities, fostering a culture of innovation and progress within the gaming community.
Conclusion
In conclusion, Rivalry’s achievement in completing a $2 million non-brokered private placement underscores the Company’s commitment to financial excellence, strategic growth, and innovation in the sportsbook and iGaming market. The successful Offering not only enhances Rivalry’s financial position and expansion capabilities but also signifies a broader trend of resilience and progress within the industry, shaping the future of digital gaming on a local and global scale.
