CALGARY. AB / ACCESSWIRE / February 15, 2019 / Fanlogic Interactive Inc. (TSXV: FLGC) is pleased to announce that it has closed a non-brokered private placement issuing 1,250,188 Units for proceeds of $66,510 at $0.0532 per Unit. Each Unit is comprised of one (1) Fanlogic Share (an "Offered Share") and one (1) Fanlogic Share purchase warrant (each such warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one (1) Fanlogic Share (a "Warrant Share") at a price of $0.1331 per share at any time prior to 4:30 p.m. (Calgary time) on the date that is thirty-six (36) months from the Closing Date. The common shares will bear the appropriate trading restriction legends and will be issued upon receiving regulatory approval.
FanLogic has granted 900,000 options to acquire 900,000 common shares at US$0.10 (CDN$0.135) to a Consultant to the Company. The options will vest and be subject to all securities rules and regulations. The options will expire three years from the date of the grant.
FanLogic is a platform that allows athletes, actors and social media celebrities to better monetize their audiences by converting them from simple followers to active, engaged fans. Our platform provides influencers with smart and engaging tools such as VIP access, contests and loyalty programs that incentivize fans to pay, participate, and proliferate in a clean, bully free environment As a result, influencers are able to optimize their audience and build a massive, engaged fan base for the long term.