Rivalry Engages Generation IACP Inc. to Provide Market Making Services
14 Juillet 2023 - 1:00PM
Rivalry Corp. (the “
Company” or
“
Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE:
9VK), an internationally regulated sports betting and media
company, today announced that, subject to the receipt of approval
by the TSX Venture Exchange (“
TSXV”), it has
retained Generation IACP Inc. ("
Generation") to
provide market making services with the objective of maintaining a
reasonable market and improving the liquidity of Rivalry’s
subordinate voting shares (the “
Shares”).
Under the issuer trading services agreement
between Generation and Rivalry (the “Agreement”),
the Company has agreed to pay Generation a monthly fee of CAD
$7,500 plus applicable taxes. The initial term of the
Agreement is six months, and such term will be automatically
renewed for subsequent six-month periods unless terminated earlier
by 30 days prior written notice. Commencing on the first
anniversary of the Agreement, the fee payable to Generation will
automatically increase annually by 3.0%. Notwithstanding the
foregoing, Generation shall have the right to terminate the
Agreement at any time upon prior written notice. Generation will
not receive any Shares or options as compensation.
Rivalry and Generation are unrelated and
unaffiliated entities. Generation has informed the Company that it
does not currently own any securities of Rivalry; however,
Generation and its clients may acquire a direct interest in the
securities of the Company.
Generation is a Toronto-based, independently
owned investment dealer providing innovative solutions for
institutional, corporate and individual clients in Canada and
abroad. Established in 1998, Generation is a member of the
Investment Industry Regulation Organization of Canada and
a member firm of the Toronto Stock Exchange and the TSXV.
About RivalryRivalry Corp.
wholly owns and operates Rivalry Limited, a leading sport betting
and media company offering fully regulated online wagering on
esports, traditional sports, and casino for the next generation of
bettors. Based in Toronto, Rivalry operates a global team in more
than 20 countries and growing. Rivalry Limited has held an Isle of
Man license since 2018, considered one of the premier online
gambling jurisdictions. Rivalry holds a sports bookmaker license in
Australia and an internet gaming registration in Ontario and is
currently in the process of obtaining additional country licenses.
The Company also has a variety of originally developed products,
including Quest, an on-site engagement experience, a first-party
casino game called Rushlane, and a proprietary casino platform that
houses third-party games, Casino.exe.
Investor Contact:Oakstrom
AdvisorsJeff Codispodiinvestors@rivalry.com
Rivalry Contact: Cody Luongo,
PR & Communicationscody@rivalry.com203-947-1936
Cautionary Note Regarding
Forward-Looking Information and Statements
This news release contains certain
forward-looking information within the meaning of applicable
Canadian securities laws (“forward-looking statements”). All
statements other than statements of present or historical fact are
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
“anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”,
“objective”, “continuous”, “ongoing”, “estimate”, “outlook”,
“expect”, “project” and similar words, including negatives thereof,
suggesting future outcomes or that certain events or conditions
“may” or “will” occur. These statements are only predictions.
Forward-looking statements are based on the
opinions and estimates of management of the Company at the date the
statements are made based on information then available to the
Company. Various factors and assumptions are applied in drawing
conclusions or making the forecasts or projections set out in
forward-looking statements. Forward-looking statements are subject
to and involve a number of known and unknown, variables, risks and
uncertainties, many of which are beyond the control of the Company,
which may cause the Company’s actual performance and results to
differ materially from any projections of future performance or
results expressed or implied by such forward-looking statements.
Such factors, among other things, include regulatory or political
change such as changes in applicable laws and regulations; the
ability to obtain and maintain required licenses; the esports and
sports betting industry being a heavily regulated industry; the
complex and evolving regulatory environment for the online gaming
and online gambling industry; the success of esports and other
betting products are not guaranteed; changes in public perception
of the esports and online gambling industry; failure to retain or
add customers; the Company having a limited operating history;
negative cash flow from operations; operational risks;
cybersecurity risks; the impact of the COVID-19 pandemic; reliance
on management; reliance on third parties and third-party networks;
exchange rate risks; risks related to cryptocurrency transactions;
risk of intellectual property infringement or invalid claims; the
effect of capital market conditions and other factors on capital
availability; competition, including from more established or
better financed competitors; and general economic, market and
business conditions. For additional risks, please see the Company’s
annual information form for the year ended December 31, 2022 and
other disclosure documents available on the Company’s SEDAR profile
at www.sedar.com.
No assurance can be given that the expectations
reflected in forward-looking statements will prove to be correct.
Although the forward-looking statements contained in this news
release are based upon what management of the Company believes, or
believed at the time, to be reasonable assumptions, the Company
cannot assure shareholders that actual results will be consistent
with such forward-looking statements, as there may be other factors
that cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release. The
forward-looking information and forward-looking statements
contained in this press release are made as of the date of this
press release, and the Company does not undertake to update any
forward-looking information and/or forward-looking statements that
are contained or referenced herein, except in accordance with
applicable securities laws.
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein.
Source: Rivalry Corp.
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