/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Nov. 27, 2020 /CNW/ - PopReach Corporation
("PopReach" or the "Company") (TSXV: POPR) (OTCQX:
POPRF) announced today that it has completed its previously
announced public offering (the "Public Offering") of common
shares of the Company ("Common Shares") conducted by
a syndicate of underwriters led by Beacon Securities Limited (the
"Underwriters") on a bought deal basis. A total of
13,800,000 Common Shares were issued at a price of $1.25 per share for aggregate gross proceeds of
$17,250,000, which includes the full
exercise of the over- allotment option granted to the Underwriters
to purchase up to an additional 1,800,000 Common Shares.
PopReach intends to use the net proceeds from the Public
Offering for acquisitions, working capital and general
corporate purposes.
The Common Shares were offered in Canada by way of a short-form prospectus filed
in the Provinces of British
Columbia, Alberta,
Saskatchewan and Ontario.
No securities regulatory authority has either approved or
disapproved the contents of this press release. The Common Shares
have not been, and will not be, registered under the U.S.
Securities Act, or any state securities laws. Accordingly, the
Common Shares may not be offered or sold within the United States unless registered under the
U.S. Securities Act and applicable state securities laws or
pursuant to exemptions from the registration requirements of the
U.S. Securities Act and applicable state securities laws. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Common Shares in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
About PopReach Corporation
PopReach, a Tier 1 Issuer on the TSX Venture Exchange, with
shares also trading on OTCQX® Best Market, is a free-to-play mobile
game publisher focused on acquiring and optimizing proven game
franchises. The Company has acquired 12 successful game franchises
competing mainly in the North American game market, including
Smurfs' Village (IP under license), Kitchen Scramble, Gardens of
Time, City Girl Life, War of Nations and Kingdoms of Camelot. The
Company's games are enjoyed by over 1.2 million unique players a
month. PopReach, headquartered in Toronto, employs a team of
over 120 experts in Toronto, Vancouver,
and Bangalore, India.
Additional information about the Company is available at
www.sedar.com.
Forward-Looking Information
Certain information in this news release constitutes
forward-looking statements and forward-looking information under
applicable Canadian securities legislation (collectively,
"forward-looking information"). Forward-looking information
include, but are not limited to, statements with respect to and the
business, financials and operations of the Company. Statements
containing forward-looking information are not historical facts but
instead represent management's expectations, estimates and
projections regarding future events. Forward looking information is
necessarily based on a number of opinions, assumptions and
estimates that, while considered reasonable by the Company as of
the date of this news release, are subject to known and unknown
risks, uncertainties, assumptions and other factors that may cause
the actual results, level of activity, performance or achievements
and future events to be materially different from those expressed
or implied by such forward-looking information, including but not
limited to the factors described in greater detail in the public
documents of the Company available
at www.sedar.com. Although the Company has
attempted to identify important risks, uncertainties and factors
which could cause actual results to differ materially, there may be
others that cause results not to be as anticipated, estimated or
intended. Investors are cautioned undue reliance should not be
placed on any such information, as unknown or unpredictable factors
could have material adverse effects on future results, performance
or achievements of the Company. The Company does not intend, and
does not assume any obligation, to update this forward-looking
information except as otherwise required by applicable law.
SOURCE PopReach Incorporated