CALGARY, Alberta, June 01, 2017 (GLOBE NEWSWIRE) -- ePlay Digital Inc. (CSE:EPY) (“ePlay”, the “Company”), today announces that in conjunction with its recent corporate restructuring and concentration on its Mobovivo sports game engine, the Company continues efforts to increase shareholder value by cancelling dilutive derivative securities. The Company has cancelled a further 6,625,646 performance warrants exercisable at $0.20 per share that were issued to the Company’s President, and further announced that it has eliminated the 3,400,000 shares (97%) of the share option plan issuance announced earlier this month exercisable at $0.17 per share.
Through these actions, and those relating to the recent sale of a subsidiary, issued and outstanding shares of ePlay Digital Inc. have been decreased by over 12%, while fully diluted shares and derivative securities have decreased by over 40% and 78% respectively.
Concurrently, the company reduced management expenses by tens of thousands of dollars per month by selling the pre-revenue and unlaunched TV network subsidiary to focus on the company’s eSports and sports game technology.
“It is important to create an engine for growth of shareholder value,” says Trevor Doerksen, President of ePlay Digital. ”As we ramp up ePlay sales efforts and multiple deployments of our Sports and Prediction Game Engine, it’s fundamental that our share structure also be an engine to facilitate share price appreciation and increase shareholder value.”
Before and after share capital of ePlay Digital can be summarized as follows as of June 1, 2017:
| ePlay Share Capital | Before | June 1, 2017 |
| Issued and Outstanding Shares | 50,870,694 | 44,439,444 |
| Performance Warrants @$0.20/share | 29,856,759 | 3,045,113 |
| Warrants @0.40/share | 4,809,770 | 4,809,770 |
| Share options @$1.25/share | 150,000 | 150,000 |
| Share options @$0.32/share | 444,595 | 444,595 |
| Share options @$0.17/share | 3,500,000 | 100,000 |
| Fully Diluted Shares | 89,631,818 | 52,988,922 |
About ePlay Digital
ePlay Digital Inc. develops real-time fan engagement technologies that enable TV networks, venues, teams, leagues and brands to evolve and meet the demands of today's highly-engaged audiences. ePlay bridges the gap between traditional broadcast and dynamic, next generation multi-platform networks that deliver interactive content, live streaming, augmented reality, fantasy sports, and social media across multiple devices. ePlay is operated by a team of sports, gaming and eSports authorities as well as broadcast and digital technology industry experts, software engineers and athletes who have brought the Mobovivo Sports Game Engine to market and successfully partnered with companies including Time Warner Cable, ESPN, Sony Pictures, AXS TV, Intel, AXN, Fiat, CBS, Cineplex, PokerVision, and others.
Further Information
Further details are available under the Company’s profile on SEDAR at www.sedar.com, and the Company’s profile on the CSE’s website at www.thecse.com/
Canadian Securities Exchange (CSE): Symbol EPY
Deutsche Boerse Xetra - Frankfurt Stock Exchange: Symbol 2NY2; WKN: A2AN4D; ISIN CA26885W1041
Cautionary and Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to third party research and analysis, and the Company's corporate strategy. Although management of the Company believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct, and management can neither agree or disagree on specific conclusions contained in the research report.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to identify and complete suitable acquisitions to further the Company's growth as well as risks associated with the Company's ability to commercialize the digital sports sectors in general such as operational risks in development, research and regulatory delays or changes in plans with respect to research projects or capital expenditures; the uncertainty of the market; the uncertainty of estimates and projections relating to costs and expenses; marketing and commercialization; loss of markets; competition; incorrect assessment of the value of any technologies acquired and failure to realize the anticipated benefits of such acquisitions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws, and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.