Gaming Corps calls for the first tranche of €400.000 in the €2.8M financing agreement with Bracknor

Published October 20, 2017 at 12:00

Gaming Corps AB (Nasdaq: GCOR) has called upon the first tranche within the financing agreement entered with Bracknor Investment Group amounting to up to EUR 2.8 million in the form of seven convertible loans, each of EUR 400 000.

The convertible loan has a mandatory conversion 12 months from issuance, at the latest. The conversion rate will be 90% of the lowest closing volume weighted average price (VWAP) during a 15 trading day period. 

The convertible loan is issued together with a subscription warrant package which entitles the lender to buy additional shares corresponding to 50% of the nominal value of the convertible loan with which they are issued. The subscription price corresponding to the first tranche has a strike of 0,4016 SEK and was calculated in accordance with the initial agreement with Bracknor. 4.800.000 warrants will be issued to Bracknor corresponding to the first tranche. 

About Bracknor:

Bracknor is a specialized investment fund based in Dubai (UAE) that invests globally in SMEs that bears unique competitive advantages and true potential, providing them with paramount working capital or growth capital needed to foster and ignite their growth.

About Gaming Corps AB:

Gaming Corps develops computer games based on their own IP's and well-known international brands. The Company's shares are traded on Nasdaq First North under the ticker GCOR. The company's Certified Advisor is Remium Nordic AB.

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