Montréal, Québec, Canada, November 18, 2022 — React Gaming Group Inc. (“React Gaming” or the “Corporation”) (TSXV: RGG, OTCQB: ITMZF) is pleased to report the results of its annual general and special meeting of shareholders (the “Meeting”), which was held yesterday on a hybrid basis. Shareholders holding 47,299,542 common shares, or 28.18% of React Gaming's issued and outstanding shares were present or represented by proxy at the Meeting.
All the nominees listed in the Corporation’s management information circular dated October 18, 2022, were re-elected as directors, except for Michael Wagen who, as a result of the vote, has resigned as a director, effective immediately.
“On behalf of the Board and the management team, I wish all the best to Michael Wagen and thank him for his many contributions and help during these last few years,” said Leigh Hughes, CEO of React Gaming. “His presence will be missed.”
Detailed results of the vote for the election of directors are set out below:
At the Meeting, the shareholders also approved resolutions regarding:
the appointment of Macias Gini & O’Connell LLP as the Corporation’s external auditors for the current year;
the Corporation’s new 10% rolling stock option plan; and
an amendment to the articles of the Corporation to consolidate, no later than twelve months from the date of the Meeting, the issued and outstanding common shares of the Corporation on the basis of 1 post-consolidation common share for a minimum of every 4 pre-consolidation common shares.
About React Gaming Group
React Gaming Group (TSXV: RGG) (OTCQB: ITMZF) is a publicly traded holding company that stands at the forefront of the esports and iGaming industry. By investing in innovative technologies that enhance tournaments, teams, and wagering, we provide our users with gaming platforms that produce non-stop action, exciting outcomes, and unparalleled enjoyment. Through the use of intelligent data, we also connect our sponsors to robust communities within the rapidly evolving industry, ensuring maximum engagement and substantial reward. For more information, please visit us at reactgaming.ca and follow us on LinkedIn, Twitter, Instagram and YouTube.
This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations, and include but are not limited to the statements regarding the completion of the Private Placement, payment of a finder’s fee in connection with the Private Placement, the securities to be issued under the Private Placement, closing the Private Placement in tranches, the offering jurisdictions of the Private Placement, effecting the Share Consolidation, mailing of the information circular, and receipt of approval from the TSXV with respect to the Private Placement and Share Consolidation. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Corporation’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Corporation’s control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Corporation’s activities, including: that the Corporation’s assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and gaming; the inability to obtain, or maintain, gaming license(s); and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Corporation, including its results and financial condition. Except as required by securities law, the Corporation does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.