19:32:10 EST Sat 22 Jan 2022
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YDX Innovation Corp (2)
Symbol YDX
Shares Issued 28,527,537
Close 2021-01-07 C$ 0.15
Recent Sedar Documents

YDX Innovation closes $549,999 financing

2021-01-07 07:13 ET - News Release

Mr. Daniel Japiassu reports


YDX Innovation Corp. has completed a non-brokered private placement financing. In connection with the closing, the company sold an aggregate of 5,499,991 units at a price of 10 cents per unit, for gross proceeds of $549,999.05. Each unit consists of one common share of the company and one share purchase warrant. Each warrant is exercisable into one additional share at a price of 20 cents per share for a period of two years from the date of issuance.

"This fully subscribed financing was strategic for us in closing 2020 with strong operational plans for 2021. We appreciate the trust and support of our shareholders as we endeavour to grow our operations in North America and expand our e-sports division. Additionally, our senior management is committed to reducing our payroll costs to the company by renegotiating all compensation plans. I will be leading by example and committing to a 40-per-cent reduction in my own salary. Again, our prime commitment here is to grow the business and further accelerate the company's profitability. Our team is aware of the high expectations around our brand and are working non-stop to ensure that 2021 is a breakthrough year. I look forward to this goal and am proud to be working with such an amazing team. I am also thankful, again, for such great supporters and shareholder base," stated Daniel Japiassu, chief executive officer of YDX Innovation.

Proceeds from the financing will be used for general working capital, marketing and growth initiatives.

The securities issued under the financing, and the shares that may be issuable on exercise of the warrants, are subject to a statutory hold period expiring on May 5, 2021.

About YDX Innovation Corp.

YDX Innovation is a global leader in the commercialization of immersive new technologies that incorporate virtual reality, augmented reality, e-sports and gaming. Its core business seeks to monetize through licensing its IP, developing interactive exhibitions, and through e-sports tournaments and content.

Arkave VR Arena is a proprietary gaming platform that brings location-based virtual reality to any location-based event or entertainment centre. Arkave features state-of-the-art free roam technology coupled with a vast library of both in-house and third party games.

YDreams Global has developed over 2,000 interactive and immersive experiences for some of the largest global brands including Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes-Benz, Coca-Cola, Santander, AB InBev, Qualcomm, Unilever, Fiat and the City of Rio de Janeiro.

Beat Gaming is an industry-leading e-sports company that has organized internationally recognized events such as the Dota 2, Overwatch and PUBG Beat Invitational. Since its creation, Beat has organized over 30 professional and semi-pro e-sports events, which has reached over 40 million viewers globally.

Purple Mage Advisors is a research and data analysis firm that specializes in player recruitment and development in the gaming industry. PMA helps e-sports and gaming companies with industry reports, player recruitment, player training, data analysis and relevant statistical reporting.

Render is a professional video production studio specializing in crafting video content for YouTubers, streamers, teams and brands. Render is highly specialized in gaming content, but also works with a wide variety of digital media.

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