i3 Interactive Updates Trading Status
TORONTO, May 21, 2021 (GLOBE NEWSWIRE) -- i3 Interactive Inc. (CSE: BETS) (FRA: F0O3) (OTC: BLITF) (the “Company”) announces that further to its press release dated April 20, 2021, trading in the common shares of the Company remains halted pursuant to entering into a binding letter of intent to merge with a leading company (the “Target”) in the online gaming space in India (the “Transaction”). The Transaction aims to transform the Company’s existing business by accelerating its mission to achieve a user base of over 20 million players across Fantasy Sports, Poker, Rummy and Mobile eSports by the end of 2022.
The Transaction is considered a fundamental change pursuant to Policy 8 of the Canadian Securities Exchange (the “CSE”). It is anticipated that trading in the Company’s common shares will remain halted until the Transaction is completed and all necessary filings have been accepted by applicable regulatory authorities.
Investors are cautioned that any information released or received with respect to the Transaction in this news release may not be complete and should not be relied upon.
Completion of the Transaction is subject to a number of conditions, including but not limited to, CSE acceptance and if applicable, disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or listing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.
ABOUT i3 INTERACTIVE INC.
The Company is in the business of providing customers with an online and mobile gaming platform which will provide sports fans worldwide with a unique and highly-engaging social gaming product, and sports betting and casino product offering. In an effort to break into the various emerging global markets, the Company has secured partnerships with key social media influencers.
For additional information on the Company:
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the expected terms of the Transaction, the number of securities of the Company that may be issued in connection with the Transaction, the ownership ratio of the resulting issuer post-closing, shareholder approval, the Target’s strategic plans and the parties’ ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.