Vancouver, BC, Canada / ACCESSWIRE / July 30, 2014 / DraftTeam Fantasy Sports Inc. ("DraftTeam" or "the Company") (CSE:DFS) (OTCPink:DTFS-F) announces that it has amended the terms of its previously announced financing. Under the amended terms, the Company will be issuing up to 7.5 million units of the Company at a price of CAD$0.08/unit for proceeds of up to $600,000. Each unit will be comprised of one common share and one half share purchase warrant. Each whole warrant will be exercisable into an additional common share at a price of $0.12/share for a period of twelve months, subject to forced acceleration whereby the exercise period of the 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. The proceeds from this financing will be used for general working capital.
In connection with this financing, the Company will pay a finder's fee to eligible finders in accordance with regulatory policies.
The above financing is subject to regulatory approval.
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: Etienne Moshevich - Tel: 604-681-0084 Email: [email protected]
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.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, DraftTeam does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.