Bought Deal – The Intertain Group Limited

July 10, 2014

Paul Pathak, Alicia McKeag and Andrew Ahonen worked with The Intertain Group Limited to close a $103.5 Million Bought Public Offering of Securities. A copy of the transaction press release is reproduced below.

 

The Intertain Group Limited (“Intertain” or the “Company”) (TSX:IT) today announced the closing of its previously announced bought deal public offering of 7,475,000 equity subscription receipts (“Equity Subscription Receipts”), and 51,175 equity-linked debt subscription receipts (“Equity-Linked Debt Subscription Receipts”), inclusive of 975,000 Equity Subscription Receipts and 6,675 Equity-Linked Debt Subscription Receipts issued pursuant to the exercise in full of the over-allotment option, for total gross proceeds of $103,500,000 (the “Offering”). The Offering was conducted through a syndicate of underwriters led by Canaccord Genuity Corp. and including Mackie Research Capital Corporation, Clarus Securities Inc., National Bank Financial Inc., Cormark Securities Inc., Haywood Securities Inc., and Global Maxfin Capital Inc. (the “Underwriters”).

The net proceeds from the Offering will be used by Intertain to fund the previously announced acquisition of Mandalay Media Limited (the “Mandalay Acquisition”). All material conditions for the closing of the Mandalay Acquisition have now been satisfied and the Company expects the transaction to close in the next few days. Intertain has engaged Canaccord Genuity Corp. to act as exclusive financial advisor in connection with the Mandalay Acquisition. Furthermore, Canaccord Genuity has provided an opinion to the board of directors of Intertain that, as of the date of the July 10, 2014, the consideration to be paid by Intertain pursuant to the Mandalay Acquisition is fair, from a financial point of view, to the shareholders of Intertain.

For further details on the Offering and the Mandalay Acquisition, please see Intertain’s press releases dated June 4 and June 16, 2014 and its short form prospectus dated July 2, 2014, available on SEDAR at www.sedar.com.

 

 

About The Intertain Group Limited

Intertain, through its subsidiary, CryptoLogic Operations Limited, is an online gaming company, which provides entertainment to a global consumer base. Intertain currently offers casino and poker games to its customers using the InterCasino and InterPoker brands. Licensed in Malta, InterCasino is one of the longest running online casinos in the world and was launched in 1996. The site provides a large variety of the most popular and well-known casino games and slot machines titles in an online format. The InterCasino gaming platform is supplied by Amaya Gaming Group Inc. and the Costa Bingo site of Mandalay Media Limited operates off of the Dragonfish platform, a leading bingo software service provided by 888 Holdings plc.

Corporate, S. Paul Pathak, Transaction Press Releases