FanDom Sports Completes Oversubscribed Non-Brokered Private Placement for Gross Proceeds of $3,307,070

FanDom Sports Media Corp. (CSE:FDM,OTC:FDMSF,FRANKFURT:TQ42) (“FanDom Sports” or the “Company”) announces that it has closed its previously communicated (January 10, 2018 press release) private placement financing (the “Offering”) on Wednesday January 17, 2018 and has raised gross proceeds of $3,307,070 pursuant to the policies of the Canadian Securities Exchange (the “Exchange” or the “CSE”). FanDom Sports has issued a total of 22,047,131 Units (the “Units”) at a price of $0.15 per Unit. Each Unit consists of one common share and one share purchase warrant (the “Warrant”) where each Warrant entitles the holder to purchase one common share of the Company at a price of $0.20 per common share on or before January 16, 2020. In accordance with applicable securities legislation, all securities issued pursuant to the Offering may not be transferred until May 18, 2018.
Proceeds of this Offering will be allocated towards technology development, integration and general working capital purposes. There were no brokerage or underwriting fees associated with this financing. In connection with the Offering, the Company paid finders’ fees totalling $26,800, issued a total of 241,333 finders’ shares (in lieu of cash), and issued 501,333 finders’ warrants to certain persons responsible for facilitating subscribers to the Offering. The finders’ shares & finders’ warrants were issued with identical terms to the private placement Units.
Upon closing of the Offering the outstanding common shares of the Company totals 124,385,834 and on a fully diluted basis totals 197,848,011.
About FanDom Sports Media Corp.
“FanDom Sports App – Fight with your thumbs, not your fists!”
The FanDom Sports App is a comprehensive mobile sports experience, giving the sports fan a front row seat to the hottest debates in sports. All day, every day. The one thing that sports fans love more than watching their favorite sport is arguing about the game and the athletes.
FanDom Sports Media Corp. is an aggregator, curator and producer of unique fan-focused content offered on a category-specific, social network and delivered through the FanDom Sports Media mobile app. We tap into the passion of fans by providing an engaging social platform for the world’s most enthusiastic sports fans to share, compare, moan, whine, gloat and trash talk about the sports, teams, players, fans and owners they love, hate and love to hate. Our unique approach blends curated content with user-generated content while providing access to athletes and celebrities both on-line and at local sponsored events.
You may also visit the Company’s website at www.fandomsportsmedia.com or contact us directly at info@fandomsportsmedia.com
On Behalf of the Company
“Henri Holm”
Henri Holm, CEO & President
For additional Information:
Chief Operating Officer
Allen S. Ezer
Tel: 416-453-7798.
Email: allen@fandomsportsmedia.com
DISCLAIMER:
The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond the Company’s control. Some of these risks and uncertainties may be described in the Company’s corporate filings (posted at www.sedar.com).
The Company has no intention or obligation to update or revise any forward-looking statements due to new information or events.
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Source: www.fscwire.com