– Changes will facilitate compliance with gaming laws and include corporate name change to ‘Score Media and Gaming Inc.’
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TORONTO, July 15, 2019 – theScore, Inc. (TSX Venture: SCR) (“theScore” or the “Company”), a leading developer of mobile sports platforms, today announced a special meeting of shareholders will be held to seek approval of certain corporate changes relating to the planned launch of the Company’s sportsbook in the United States. In addition, to better reflect its integrated approach to mobile sports media and gaming, the Company plans to change its corporate name from theScore, Inc. to Score Media and Gaming Inc.
As previously announced, the Company plans to debut its mobile sports betting applications in New Jersey in 2019, following receipt of all required approvals and licenses from the State of New Jersey Division of Gaming Enforcement (DGE) and the New Jersey Racing Commission (NJRC).
To operate a sportsbook in the United States, the Company must comply with applicable U.S. federal, state and tribal gaming laws, compacts, regulations, rules and ordinances as well as obtain approvals and gaming licenses from applicable gaming authorities and gaming regulatory bodies. In order to facilitate the Company’s compliance with such gaming laws and license requirements, the Board of Directors of the Company believes it is necessary to introduce certain restrictions on the issue, transfer and ownership of its securities, and to continue the Company’s corporate existence under the laws of British Columbia to enable it to implement these changes.
The special meeting is expected to be held on or about August 22, 2019. Additional details regarding the special meeting and the proposed resolutions will be included in a management information circular to be sent to the Company’s shareholders in the coming weeks. The management information circular will also be filed with the applicable Canadian securities regulators and will be available on SEDAR at www.sedar.com.
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About theScore Inc.
theScore creates highly-engaging digital products and content that empower sports fans. Its flagship mobile app ‘theScore’ is one of the most popular multi-sport news and data apps in North America, serving millions of fans a month. The Company also creates innovative digital sports experiences through its web, social, and esports platforms, and in December 2018 announced plans to launch a mobile sportsbook in the United States.
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.