2022-06-15 | NDAQ:ELYS | Press release

Elys Game Technology, Corp. (“Elys” or the “&CloseCurlyDoubleQuote Company;) (Nasdaq: ELYS), an interactive gaming and sports betting technology company, today announced the closing of the previously announced registered direct offering with a single institutional investor for the purchase and sale of 3,166,227 common shares of the company (or common stock equivalents) at a purchase price of $0.9475 per common share (or common stock equivalent) pursuant to an offer direct recorded.

In addition, in a concurrent private placement, the Company has also agreed to issue warrants to the investor to purchase up to 3,166,227 common shares. The warrants have an exercise price of $0.9475 per share, are exercisable six months from the date of issue and have a term of five years from the original exercise date.

HC Wainwright & Co. is acting as the exclusive placement agent for the offering.

The Company’s gross proceeds from this offering were approximately $3.0 million, before deducting placement agent fees and other offering costs payable by the Company. The Company intends to use the net proceeds of this offering for working capital and other general corporate purposes.

The Common Shares (or Common Share Equivalents) described above (but not the Warrants issued pursuant to the Concurrent Private Placement or the Common Shares underlying such Warrants) were issued by the Company in virtue of a “shelf” Registration Statement on Form S-3 (File No. 333-256815) previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on June 14, 2021. The common stock offering (or common stock equivalents) has been made only by means of a prospectus, including a prospectus supplement, forming part of the actual registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering were filed with the SEC on June 15, 2022. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained at SEC web at http://www.sec.gov or by contacting HC Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 865-5711 or by email at [email protected]

The warrants described above have been offered by way of private placement pursuant to Section 4(a)(2) of the Securities Act 1933, as amended (the “&CloseCurlyDoubleQuote Act; ”) and Regulation D promulgated thereunder and, together with the common shares underlying the Warrants, have not been registered under the Act or applicable state securities laws. Accordingly, the warrants and the underlying common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of statute. and applicable state securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Elys Game Technology, Corp.

Elys Game Technology, Corp., is a global B2B gaming technology company operating in multiple countries around the world, with B2C online and land-based gaming operations in Italy. Elys offers its customers a full range of leisure gaming products and services, such as sports betting, electronic sports, virtual sports, online casino, poker, bingo, interactive games and slot machines. in Italy and is present in five states, including New Jersey and the District of Columbia in the US market. Elys’ vision is to become a world leader in the gaming industry through the development of pioneering and innovative technology.

The Company provides betting solutions, online operator services, casinos, retail betting establishments and franchise distribution networks. Additional information is available on our corporate website at www.elysgame.com.

Investors can also find us on Twitter @ELYS_gaming.

Forward-looking statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. ,” “intention,” “estimate,” “expect,” “may,” “go ahead,” “predict,” “potential,” “plan” and similar expressions. These forward-looking statements are based on the company’s expectations and assumptions. management as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict, which could cause actual results to differ materially from actual results, expectations and assumptions and those stated or implied by any forward-looking statement. Important factors that could cause actual results to differ materially from current expectations include, among others, the expected use of pr oduct of the offering and the risk factors described in the company’s annual report on Form 10-K for the fiscal year ended December 31, 2021 and its subsequent filings with the United States Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8-K. The information in this release speaks only as of the date of this release, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unforeseen events, except as required by law.


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