LAS VEGAS, Nov. 17, 2016 /CNW/ - NYX Gaming Group Limited ("NYX" or the "Company") (TSX-V: NYX) announces today that it has entered into an agreement to extend the maturity date in connection with its previously issued $10,000,000 aggregate principal amount of 6.00% unsecured convertible debentures (the "Debentures"). The Debentures were originally issued on a private placement basis on November 17, 2014.
The Company also announces that holders of an aggregate of $1,000,000 principal amount of Debentures have agreed to convert the principal amount of their Debentures, together with accrued interest, into ordinary shares (the "Ordinary Shares") in the capital of the Company at a conversion price equal to the closing market price of the Ordinary Shares on the TSX Venture Exchange as of the date of this release. The remaining holders under the Debentures have agreed to extend the term of the Debentures from the initial maturity date of November 17, 2016 until May 17, 2017.
The Company believes the extension of the Debenture provides a less dilutive alternative for its shareholders.
The terms around the extension to the maturity date remain subject to the approval of the TSX Venture Exchange.
About NYX Gaming Group Limited
NYX Gaming Group Limited is a leading digital gaming provider headquartered in Las Vegas, USA with a staff of more than 1,100 employees based in 14 countries across Europe, North America, Asia, New Zealand and Australia. The Company provides one of the world's largest portfolios of leading content and technology to some of the foremost gaming operators, lotteries and casinos across the globe. NYX also has one of the broadest distribution bases in the industry with over 200 unique customers and the widest portfolio of content available from their own global studios and broad partner network. The diversified game catalogue delivers content across web and mobile formats, focusing on Bingo, Casino, Lottery and Sportsbook verticals.
NYX's Open Gaming System (OGS™) was recently named 2016 Platform of the Year in acknowledgement of its position as the industry's market-leading gaming offering, which allows licensees to leverage the best-of-breed multi-vendor casino content from around the world.
Certain statements included herein, including those that express management's expectations or estimates of NYX's future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "potential" or the negative of these terms or other similar expressions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward looking statements. Applicable risks and uncertainties include, but are not limited to: credit, market, currency, operational, liquidity and funding risks, including changes in economic conditions, interest rates or tax rates, the impact of government regulation on the on-line gaming industry and the risk that such regulation is subject to change, competition from other providers of online gaming services, the risks associated with international and foreign operations, the impact of consolidations in the online gaming industry and the other risks identified under the heading "Risk Factors" in the Company's annual information form dated April 26, 2016 as filed on SEDAR at www.sedar.com, and in other filings that NYX may make with applicable securities authorities in the future. The forward-looking statements contained herein reflect NYX's current views with respect to future events, and except as required by law, NYX does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events, or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE NYX Gaming Group Limited
For further information: Matt Davey, Chief Executive Officer, NYX Gaming Group Limited, 1-702-586-8428; Joann Head, Director of Investor Relations, 1-647-962-9600