i3 Interactive Announces It Does Not Intend To Accelerate the Expiry Date of Outstanding Warrants
Toronto, ON - March 4, 2021 - i3 Interactive Inc. (the "Company") (CSE: BETS) (OTC: BLITF) (FRA: F0O3) a leading global online and mobile gaming company, is pleased to announce that it has no intention at this time to accelerate the expiry of the share purchase warrants of the Company (the "Warrants") issued pursuant to and governed by a warrant indenture (the "Warrant Indenture") entered between the Company and Endeavor Trust Corporation on August 18, 2020. The Warrants currently trade on the Canadian Securities Exchange under the stock ticker "BETS.WT". Pursuant to the Warrant Indenture, the Warrants expire on June 29, 2020, subject to the Company providing notice that it wishes to accelerate the expiry, upon the closing price of the common shares of the Company being at least $0.75 for a minimum of 10 consecutive trading days (the "Early Expiry Option"). The Company is now eligible to trigger the Early Expiry Option, but based on the existing cash position of the Company, it has no need to accelerate the maturity date of the Warrants at this time.
ABOUT I3 INTERACTIVE INC.
The Company is in the business of providing customers with an online and mobile gaming platform that will provide sports fans worldwide with a unique and highly engaging social gaming product, and sports betting and casino product offering. In an effort to break into the various emerging global markets, i3 has secured partnerships with key social media influencers.
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This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements, including, without limitation, (i) the costs of compliance with and the risk of liability imposed under the laws of the jurisdictions in which the Company is operating or will operate (the "Operating Jurisdictions") including gambling laws and regulations, sports betting laws and regulations and mobile or online gambling and sports betting laws and regulations, (ii) negative changes in the political environment or in the regulation of mobile and online sports betting or gambling and the Company's business in the Operating Jurisdictions, (iii) risks relating to COVID-19 (iv) negative shifts in public opinion and perception of the gambling industry, (v) significant competition in the industry, (vi) risks of product liability and other safety-related liability as a result of usage of the Company's planned gambling and betting products, (vii) loss of intellectual property rights or protections, (viii) cybersecurity risks, (ix) constraints on marketing products,(x) fraudulent activity by employees, and (xi) risk of litigation. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that , (i) the Company's financial condition and development plans do not change as a result of unforeseen events, (ii) there will continue to be a demand, and market opportunity, for the Company's product offerings, (iii) the Company will be able to establish, preserve and develop its brand, and attract and retain required personnel, and (iv) current and future economic conditions will neither affect the business and operations of the Company nor the Company's ability to capitalize on anticipated business opportunities) although considered reasonable by management of the Company at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of the Company in this press release may not be indicative of, and are not an estimate, forecast or projection of the Company's future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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