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  • Interactive Games Technologies (BETS) non-brokered private placement generated gross proceeds of $6,732,779.37
  • 20,402,362 common shares were issued at a price of $0.33 per share
  • Interactive Games has entered into a share subscription agreement with a leading company within the online gaming space in India
  • Interactive Games announces its name change to I3 Interactive Inc., effective later this month
  • Interactive Games Technologies Inc. (BETS) is unchanged, trading at C$0.395 per share at 2 pm ET

Interactive Games Technologies (BETS) is pleased to announce the closing of a non-brokered private placement.

Gross proceeds from the offering totalled $6,732,779.37 through the issuance of 20,402,362 common shares at a price of $0.33 per share.

The company paid finder's fees of $15,576 and issued 47,200 finders warrants to registered finders. Each warrant entitles the holder to purchase one share at a price of $0.33 for a period of 24 months from the closing of the offering.

All securities issued in connection with the offering will be subject to a hold period of four months plus a day.

Interactive Games has entered into a share subscription agreement with a leading company within the online gaming space in India. Interactive Games has agreed to purchase US$5,000,000 worth of compulsorily convertible cumulative preference shares of the target company, fulfilling the initial funding commitment.

Interactive Games is working to complete its due diligence and finalize a sale and purchase agreement.

Interactive Games announces its name change to I3 Interactive Inc., effective later this month.

Interactive Games Technologies Inc. is in the business of providing its customers with entertaining, exciting and engaging online gaming products with a unique brand position and a blend of skill-based games and games of chance. The company's product suite includes social gaming, fantasy sports, quiz games, poker, rummy, sports betting, as well as thrilling games of chance as part of its certifiably fair online casino.

Interactive Games Technologies Inc. (BETS) is unchanged, trading at C$0.395 per share at 2 pm ET.

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