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DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN
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TORONTO, May 2, 2014 – theScore, Inc. (TSX Venture: SCR) (“theScore” or the “Company”) is pleased to announce that it has received notice from Beacon Securities Limited on behalf of itself and Canaccord Genuity Corp. (the “Underwriters”) that the Underwriters have fully exercised their over-allotment option (the “Over-Allotment Option”) to offer an additional 3,960,000 Class A Subordinate Voting Shares (the “Class A Shares”) at a price of $0.30 per Class A Share for additional gross proceeds of $1,188,000. Assuming completion of the Over-Allotment Option in full, 30,360,000 Class A Shares in aggregate are being issued pursuant to the public offering for gross proceeds of $9,108,000. With the exercise of the over-allotment option by the Underwriters, the Corporation has also increased the size of its previously announced concurrent private placement to 27,140,000 Class A Shares for gross proceeds of $8,142,000, which together with the Bought Deal Offering will raise aggregate gross proceeds to approximately $17,250,000.
Closing of the offering is now scheduled on or about May 6, 2014, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the final approval of the TSX Venture Exchange and the securities regulatory authorities, and the satisfaction of other customary closing conditions.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from such registration requirements is available.
For more information:
Tel: 416.479.8812 ext. 2366
Email: [email protected]
Chief Financial Officer
Tel: 416.479.8812 ext. 2206
Email: [email protected]
About theScore, Inc.
theScore creates mobile-first sports experiences, connecting fans to what they love through an addictive combination of real-time news, scores, fantasy information and alerts while creating and curating content that is mobile optimized, comprehensive, customizable and seamlessly shareable. theScore is available on iOS, Android, BlackBerry and Windows Phone devices.
Forward-looking (safe harbour) statement
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as “may”, “would”, “could”, “will”, “believes”, “plans”, “anticipates”, “estimates”, “expects” or “intends” and other similar statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Such statements reflect theScore’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including among other things, those which are discussed under the heading “Risk Factors” in the Company’s Annual Information Form as filed with the TSX Venture Exchange and available on SEDAR at www.sedar.com and elsewhere in documents that theScore files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as required by applicable law or regulatory requirements.