2022-05-19 | CSE:SWRM | Press release
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TORONTO, May 19, 2022 /CNW/ – Swarmio Media Holdings Inc. (CSE: SWRM) (OTC: SWMIF) (“Swarmio” or “the Company”), a technology company focused on the global deployment of its proprietary gaming and entertainment platform. esports via its telecommunications operator (“telco” partners, announces its intention to carry out a private placement led by insiders without intermediary of a maximum of $1,000,000.
“Swarmio’s patented Ember plug-and-play gaming and esports platform enables telcos to deliver a turnkey gaming service quickly and efficiently to all of their customers, allowing telcos to participate to 200 billion dollars video game market and increase their average revenue per user (ARPU),” commented Vijai Karthigesu, CEO of Swarmio. “Major telcos have recently partnered with Swarmio, leveraging our business proposition and technology to monetize gamers. We expect these partnerships to result in revenue growth for Swarmio in the months and years to come. Following our successful telecommunications launch with Globe in The Philippines to their 85 million subscribers, we plan to continue to roll out the Ember platform to new regions with other leading telcos this year. I would like to thank our entire team for their commitment to the business as we set out to seize this untapped opportunity.”
The non-brokered private placement will consist of a maximum of 10,000,000 common shares at a price of $0.10 per share. The private placement is expected to close within the next week. The Company intends to use the net proceeds from the private placement for short-term working capital and general working capital purposes. Swarmio may need to raise additional funds in the near term to support its operations, as it hopes revenue will start flowing from recently announced client activities.
All securities issued will be subject to a hold period of four months and one day. Closing of the Private Placement is subject to the Company entering into subscriptions with investors and other customary closing conditions.
This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under securities laws. of such jurisdiction. This press release does not constitute an offer of securities for sale in United States. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold in United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirement.
About Ember by Swarmio
Swarmio’s fully managed plug-and-play Ember platform can be quickly and seamlessly integrated with major telecom operations, enabling telecom operators to engage and monetize gaming subscribers and gain immediate access and significant to the US$200 billion gaming market.
Ember provides a proprietary digital hub for gaming communities, allowing gamers access to an ultra-low latency gaming experience, competitive challenges and tournaments, exclusive gaming content, managed communities, a gamification and points system, an online store (Swarmio Store), an e-gamer wallet (Swarmio Pay) and personalized digital content.
About Swarmio Media
Swarmio Media (CSE: SWRM; OTC: SWMIF) is a technology company focused on deploying its proprietary end-to-end gaming and esports platform, Ember, which enables telecom operators to monetize their customers from games. Swarmio has engaged with several telecom carriers who have launched Ember as an add-on service, allowing subscribers to access tournaments, engage in a localized gaming community, challenge friends and influencers, and earn points that can be used to purchase in-game content. Ember is powered by Swarmio’s patented Latency-Optimized Edge Cloud (‘LEC’) technology, which reduces lag and allows gamers to enjoy an optimized gaming experience .
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Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “anticipates”, “expects” or “does not expect”, “is expected”, “estimates”, ” intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declare that certain actions, events or results “could”, “could”, “would “, “could” or “would” be taken, occur or be affected. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Swarmio’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. prospective. Examples of such statements include expected benefits to Swarmio’s customers from using Swarmio’s platform, Swarmio’s expectations for revenue growth and revenue timing, expectation of platform deployment -form of Swarmio in new regions and with new customers, the expected timing of the private market closure, the placement and use of proceeds from the financing and the ability to raise additional funds. Different customers can derive different benefits from pursuing Swarmio’s platform. Swarmio’s revenues may not increase and its platform may not be adopted by new customers or in new regions for many reasons beyond Swarmio’s control. The closing of the private placement remains subject to the execution of definitive agreements and the satisfaction of closing conditions. Circumstances may require or make it desirable for Swarmio to use the proceeds of the offer for purposes different from those described above. Additional financing may not be available on terms favorable to the Company, if at all. Failure to obtain additional financing could prevent the Company from incurring expenditures that may be necessary to implement the Company’s growth strategy and develop or maintain the Company’s business. The forward-looking statements included in this press release are made as of the date of this press release, and Swarmio undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law. in applicable securities requires it. .
SOURCESwarmio Media Holdings Inc.
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