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Gaming Innovation Group - Issue of new shares

Article Img 01 April, 2022

Gaming Innovation Group Inc. (“GiG” or the “Company”) has today issued 26,110,900 new shares of its common stock in connection with the acquisition of Sportnco Gaming Innovation Group Inc. (“Sportnco”) and the related directed share issue towards SkyCity Entertainment Group Limited (“SkyCity”), ref. separate announcement today.

12,623,400 new shares have been issued to the shareholders of Sportnco at a share price of NOK 18.08 for a consideration of EUR 23,500,000, and 13,487,500 new shares have been issued to SkyCity at a share price of NOK 18.00 for a consideration of EUR 25,000,000.

The new shares are issued by the Board of Directors under the Company's 150,000,000 authorized shares, and the Company confirms that the new shares have been duly authorized by all necessary corporate action and that the new shares have been fully paid and validly issued. The Company’s share capital has increased from USD 96,675,626 to USD 122,786,526, and the number of outstanding shares has increased from 96,675,626 to 122,786,526. (par value USD 1.00). The new shares are issued on a separate non-listed ISIN and will be admitted to trading once a listing prospectus has been approved by the Norwegian Financial Supervisory Authority.

For further information, please contact:
Tore Formo, Group CFO, tore@gig.com

About Gaming Innovation Group (GiG):
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group’s vision is ‘To be the industry leading platform, sportbook and media provider delivering world class solutions to our iGaming partners and their customers’.  GiG’s mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com