Interactive Games Technologies Inc – is pleased to announce the rebrand and launch of its recently acquired skill-based fantasy gaming product, BLITZPOOLS, is exceeding expectations. With a soft launch March 1st and official launch March 8th BLITZPOOLS is already over 150,000 new registrations and expects to close the month with over 250,000 new players. It is clear the industry leading product and brand positioning is resonating with the Indian fantasy gaming audience.
The launch of BLITZPOOLS, already one of India’s fastest-growing skill-based fantasy sports platforms, included the signing of cricket stars Ishan Kishan, Rahul Chahar, Shreyas Gopal and Wriddhiman Saha as ambassadors. IGT.BET and BLITZPOOLS could not be happier with the impact these professionals have already made and are excited for what the future holds. The engagement and activation of each star’s respective fan base has been exceptional. Planning for further and increased player interaction is already underway.
The launch of BLITZPOOLS also included the engagement of several celebrities and influencers in India including but not limited to Sunny Leone, Urvashi Rautela, Natasia Stankovic and Mouni Roy. With a total audience in excess of 215 million, these partnerships have been a huge success. The business has seen its pools with partners fill up in record time, a testament to the market appetite to play in pools with aspirational personalities combined with the opportunity to win industry leading cash and prizes for the most skilled fantasy gamers.
Appointment of Director
The Company is pleased to announce that Brendan Purdy has been appointed as a director of the Company.
Mr. Purdy is a practicing securities lawyer focused on the resource, life sciences, and technology sectors. In his private practice, he has developed extensive experience with respect to public companies, capital markets, mergers and acquisitions, and other transactions fundamental to the Canadian junior equity markets. Prior to receiving his J.D. from the University of Ottawa, Mr. Purdy completed a Bachelor of Management and Organizational Studies degree from the University of Western Ontario, majoring in finance and administration. Mr. Purdy was previously CEO of Enforcer Gold Corp. and High Hampton Holdings Corp., and has served as director of several private and public companies. Mr. Purdy is currently serving on the board of DGTL Holdings Inc., a digital media technology incubator.
Adopts Restricted Share Unit Plan
In order to further align the interests of the Company’s senior executives, key employees, consultants and directors with those of the shareholders of the Company, the Board of Directors has approved the implementation of a restricted share unit plan (the “RSU Plan“). Under the RSU Plan, eligible persons may (at the discretion of the Board) be allocated a number of RSUs as the Board deems appropriate, with vesting provisions also to be determined by the Board, subject to a maximum vesting term of three (3) years from the end of the calendar year in which RSUs were granted. Upon vesting, eligible participants shall be entitled to a cash payment equal to the number of RSUs granted, multiplied by the fair market value of the Company’s common shares on the redemption date. The Company shall also have the option (at the discretion of the Board) to settle amounts owing to eligible persons via the issuance of common shares of the Company.
The maximum number of RSUs issuable under the RSU Plan is fixed at 16,648,627 (being 10% of the issued and outstanding common shares as of today’s date), provided however that at no time may the number of RSUs issuable under the RSU Plan, together with the number of common shares issuable under options that are outstanding under the Company’s Stock Option Plan, exceed 20% of the issued and outstanding common shares as at the date of a grant under the RSU Plan or the Stock Option Plan, as the case may be.
Further details regarding the RSU Plan and all awards made thereunder will be set out in the management information circular and proxy statement of the Company that will be delivered to shareholders in respect of the Company’s next annual meeting of shareholders. A copy of the RSU Plan will also be available under the Company’s corporate profile at www.sedar.com.
RSU Grants
The Company has granted an aggregate of 2,818,500 RSUs to the Company’s senior executives, key employees, consultants and directors of the Company. All of the RSUs (and any common shares issuable upon redemption) will be subject to applicable securities law hold periods.
