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– Offering accelerates development and marketing of leading mobile sports app

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TORONTO, April 14, 2014 – theScore, Inc. (TSXV: SCR) (“theScore” or the “Company“) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Beacon Securities Limited, and including Canaccord Genuity Corp. (the “Underwriters“), to purchase on a bought deal basis, 26,400,000 Class A Subordinated Voting Shares (the “Class A Shares“) of theScore at a price of $0.30 per Class A Share, by way of short form prospectus to be filed in each of the Provinces of Canada, except Québec, for gross proceeds of$7,920,000 (the “Bought Deal Offering“). Concurrent with the Bought Deal Offering, the Company intends to complete a private placement of 23,600,000 Class A Shares at a price of $0.30 per Class A Share, for gross proceeds of $7,080,000 (the “Private Placement“, and collectively with the Bought Deal Offering, the “Offering“). The aggregate gross proceeds from the Offering will be $15 million. In addition, theScore has granted to the Underwriters an over-allotment option, exercisable in whole or in part up to 30 days following the closing of the Bought Deal Offering, to purchase up to an additional 15% of Class A Shares. In the event the over-allotment option is exercised in full and certain insiders of the Company elect to exercise their pre-emptive rights, the aggregate gross proceeds of the Offering will be approximately $17.25 million.

The net proceeds from the Offering will be used to support the ongoing development of the Company’s flagship mobile sports app “theScore” and the expansion of sales and marketing efforts and for general corporate and working capital purposes.

“This financing provides theScore with additional resources to continue building a premiere mobile-first sports experience that’s already achieved significant levels of user engagement throughout North America,” said John Levy, Chairman and CEO of theScore. “This will support the amazing work of our talented in-house development team while allowing us to step-up our marketing efforts to introduce even more sports fans to theScore.”

Levfam Holdings Ltd., Relay Ventures Fund II L.P. and Relay Ventures Parallel Fund II L.P. have each indicated their intention to participate in the Private Placement.

Closing of the Offering is scheduled on or about May 7, 2014, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the 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:

James Bigg
Manager, Communications
theScore, Inc.
Tel: 416.479.8812 ext. 2366
Email: [email protected]

Tom Hearne
Chief Financial Officer
theScore, Inc.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.

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TORONTO, April 23, 2013 – theScore, Inc. (TSX Venture: SCR) (“theScore” or the “Company”) today announced it has entered into subscription agreements in connection with a $16 million non-brokered private placement of 100,000,000 Class A Subordinate Voting Shares at a price of $0.16. The financing round will allow the Company to accelerate the development and marketing of its mobile sports platforms while further expanding its advertising sales and marketing capabilities in the United States.

Relay Ventures, a venture capital fund based in Toronto and Silicon Valley and focused exclusively on the mobile space, is leading the private placement. Existing shareholders, including Levfam Holdings Ltd. and Rogers Media Inc., also participated in the financing.

theScore’s mobile sports platforms have achieved significant growth since September 2009, growing from 600,000 monthly users to more than 4.2 million in January 2013. Available across all major mobile platforms, its flagship applications offer real-time sports news, scores, fantasy information and alerts, alongside compelling and relevant content.

John Levy, Chairman and CEO of theScore, Inc. said: “This gives theScore significant financial resources to accelerate the growth and development of our great mobile sports platforms. It also affords us an increased runway to turbocharge the momentum we’ve been building, strengthen our sales and marketing teams and further capitalize on the industry-wide explosion in mobile ad spending.”

Following the closing of the private placement, Relay Ventures’ Co-Founder and Managing Partner John Albright will join theScore’s Board of Directors.

Mr. Albright said: “More than four million sports fans around the world are using theScore’s mobile platforms to dynamically connect with their favourite sports, leagues, teams and players. It’s created by a company that is led by serial entrepreneurs who have a successful track record and are now primed to capitalize further on the explosion in mobile ad spending. We are thrilled to invest in them.”

There are no bonuses, finder’s fees, commissions or other compensation to be paid in connection with the private placement. The Class A Shares issued upon completion of the private placement will be subject to a hold period under applicable securities laws. The private placement is expected to close on or about May 3, 2013. The closing is subject to certain customary closing conditions and remains subject to the approval of the TSX Venture Exchange.

Canaccord Genuity Corp. provided theScore with strategic financial advice in connection with the private placement.

 

For more information:

James Bigg

Manager, Communications

theScore, Inc.

Tel: 416.479.8812

Cell: 647.638.9281

Email: [email protected]

 

Tom Hearne

Chief Financial Officer

theScore, Inc.

Tel: 416-560-0528

Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

No securities regulatory authority has either approved or disapproved the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a “U.S. person” (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

About theScore Inc.

theScore’s mission is to provide a full digital service to sports fans, delivering a personalized user experience across all major mobile platforms through our mobile apps and website. Users are provided with a comprehensive, customizable service that dispenses real-time sports news, scores, fantasy information and alerts, alongside compelling, relevant content that allows for seamless social sharing by users. theScore also enables advertisers to engage with users across theScore’s mobile and web platforms and offers them a combination of reach, relevance, and customizable advertising and sponsorship products.

Forward-looking (safe harbour) statement

Statements made in this news release that relate to future plans, events or performances are forward-looking statements, including statements related to the use of proceeds from the private placement, the acceleration of growth and development of mobile sports platforms, strengthening sales and marketing teams and capitalizing on opportunities and the timing of closing of the private placement. 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 Listing Application 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.