TORONTO, Aug. 11, 2021 /CNW/ -- Engine Media Holdings,
Inc. ("Engine" or the "Company"); (NASDAQ: GAME)(TSX-V: GAME), a
provider of sports and esports gaming experiences, along with media
solutions focused on influencer marketing, gaming data/analytics,
and programmatic advertising has entered into an at-the-market
Equity Distribution Agreement (the "Equity Distribution Agreement")
with Canaccord Genuity LLC ("Canaccord"), on behalf of itself and
co-sales agents Oppenheimer & Co. Inc. and B. Riley Securities,
Inc., to establish an at-the-market equity program (the "ATM
Program"). Under the ATM Program, the Company will have the
flexibility through the April 2023
expiration date of its Base Prospectus (referenced below), to issue
up to US$50 million of common shares
("Common Shares") as needed to support the Company's ongoing
business activities. Any Common Shares sold under the ATM
Program will be sold at the prevailing market price at the time of
sale, when sold through the NASDAQ Global Market. No common shares
will be offered or sold in Canada.
Sales under the ATM Program will be commenced at the Company's
discretion, and the net proceeds of any sales of Common Shares
under the ATM Program will be used to fund the Company's working
capital requirements and for other general corporate purposes. The
Company has no obligation to sell any shares pursuant to the ATM
Program.
The Company has filed a prospectus supplement (the "Supplement")
dated August 10, 2021 to a short form
base shelf prospectus dated March 25,
2021 (the "Base Prospectus") and in the United States pursuant to a registration
statement on Form F-10 (File No. 333-254709), which was declared
effective by the U.S. Securities and Exchange Commission (the
"SEC") on June 10, 2021 (the
"Registration Statement"), in accordance with the
Multijurisdictional Disclosure System established between
Canada and the United States. Copies of the Supplement
and accompanying Base Prospectus may be obtained by contacting
Canaccord Genuity LLC, Attn: Syndicate Department, 99 High Street,
Suite 1200, Boston, MA 02110,
Attn: Equity Syndicate Department, by telephone at (617) 371-3900
or by e-mail at prospectus@cgf.com. The Equity Distribution
Agreement, the Supplement and the accompanying Base Prospectus can
also be found on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Engine Media Holdings, Inc.
Engine Media Holdings Inc. is traded publicly under the ticker
symbol (NASDAQ: GAME) (TSX-V: GAME). The organization is focused on
developing premium consumer experiences and unparalleled technology
and content solutions for partners in the esports, news and gaming
industry. The company's subsidiaries include Stream Hatchet; the
global leader in gaming video distribution analytics; Eden Games , a premium video game developer and
publisher with numerous console and mobile gaming franchises;
WinView Games, an industry innovator in audience second screen
play-along gaming during live events; UMG, an end-to-end
competitive esports platform enabling the professional and amateur
esport community with tournaments, matches and award nominating
content; and Frankly Media, a digital publishing platform
empowering broadcasters to create, distribute and monetize content
across all channels. Engine Media generates revenue through a
combination of direct-to-consumer and subscription fees; streaming
technology and data SaaS-based offerings; programmatic advertising
and sponsorships. To date, the combined companies' clients have
included more than 1,200 television, print and radio brands, dozens
of gaming and technology companies, and have connectivity into
hundreds of millions of homes around the world through their
content, distribution and technology services.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Engine to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"estimates", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. All statements,
other than statements of historical fact, included herein
including, without limitation, statements about the ATM Program,
including the number of Common Shares sold in connection thereto,
the use of proceeds from the ATM Program, the commissions and
expense reimbursements to be paid in connection therewith, and the
termination of the Equity Distribution Agreement are forward
looking statements. Engine has provided such statements and
information in reliance on certain assumptions that management
believed to be reasonable at the time. Forward-looking
information involves known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements stated herein to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks. Accordingly, readers should not place
undue reliance on forward-looking information contained in this
news release. Risk factors affecting the Company are
identified in the Company's filings with Canadian securities
regulators on SEDAR in Canada
(available at www.sedar.com) and with the SEC on EDGAR (available
at www.sec.gov/edgar).
The forward-looking statements contained in this news release
are made as of the date of this release and, accordingly, are
subject to change after such date. Engine does not assume any
obligation to update or revise any forward-looking statements,
whether written or oral, that may be made from time to time by us
or on our behalf, except as required by applicable law.
Neither the 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.
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SOURCE Engine Media Holdings, Inc.