InvestmentJun 25, 2026, 02:26 PM
Bragg Gaming Closes US$1.3M Private Placement; Insiders Participate
AI Summary
Bragg Gaming Group announced the closing of its non-brokered private placement, raising approximately US$1.3 million by issuing 751,445 subscription receipts at US$1.73 each. These receipts will convert into one common share and one warrant upon the completion of the Drayton International acquisition. Key insiders, including the CFO, COO, and a director, participated, alongside Matt Davey, who is expected to become Non-Executive Chairman and hold about 10% of shares post-transaction. Proceeds will be used for general corporate and working capital purposes.
Key Highlights
- Closed non-brokered private placement raising approximately US$1.3 million.
- Issued 751,445 subscription receipts at US$1.73 per receipt.
- Each receipt converts to one common share and one warrant upon Drayton International acquisition.
- Warrants exercisable at US$2.16 per share for 36 months.
- CFO, COO, and a director subscribed for a total of 202,312 subscription receipts.
- Matt Davey subscribed for 115,607 subscription receipts, expecting to hold ~10% of shares.
- Net proceeds primarily for general corporate and working capital purposes.
- Securities subject to a four-month and one-day statutory hold period in Canada.
Price Impact
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