VANCOUVER, BC / ACCESSWIRE / March 1, 2022 / Yo Eleven Gaming Inc. (the "Company" or "Yo Eleven") is pleased to announce that further to the Company's news release dated January 14, 2022 it has closed the first tranche of a non-brokered private placement for gross proceeds of $95,000 (this "Financing") through the issuance of 1,900,000 units at the price of $0.05 per unit. Each unit consists of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one common share at the price of $0.25 per common share for a period of three years. The warrants contain an acceleration provision, which may be triggered, once the Company's shares have been publicly listed for trading and have traded at a price of $0.50 per common share for 15 (fifteen) consecutive trading days.
The proceeds from this Financing will be used for general working capital purposes.
The securities issued in connection with this Financing include a four month and a day hold period in accordance with the applicable securities laws.
Finders' fees in the amount of 150,000 units were paid to Stephen Avenue Securities Inc. and Haywood Securities Inc. Each unit consists of one common share and one non-transferable common share purchase warrant entitling the holder to acquire one common share at the price of $0.25 per common share for a period of two years.
About Yo Eleven Gaming Inc.
Yo Eleven Gaming Inc. is building a sports betting and online gaming company. Yo Eleven's mission is to bring people together in a fun and engaging environment while supporting gaming operators with a streamlined platform to manage their businesses.
For more information on the Company, please contact Jake H. Kalpakian, President and CEO, at (604) 681-0204 ext. 6105.
On behalf of the Board of Yo Eleven Gaming Inc.
"Jake H. Kalpakian"
Jake H. Kalpakian
President & CEO
Securities of the Company should be considered speculative.
Certain statements contained herein are "forward-looking". Forward-looking statements may include, among others, statements regarding future plans, proposed financings, costs, objectives, economic or technical performance, or the assumptions underlying any of the foregoing. In this News Release, words such as "may", "would", "could", "will", "likely", "enable", "feel", "seek", "project", "predict", "potential", "should", "might", "objective", "believe", "expect", "propose", "anticipate", "intend", "plan", "plans", "mission", "estimate", and similar words are used to identify forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, projections and estimations, there can be no assurance that these assumptions, projections or estimations are accurate. Readers, shareholders and investors are therefore cautioned not to place reliance on any forward-looking statements as the plans, assumptions, intentions or expectations upon which they are based might not occur.
SOURCE: Yo Eleven Gaming Inc.