Global regulated sports betting and media company Rivalry has selected Toronto-based Generation IACP to “provide market making services with the objective of maintaining a reasonable market and improving the liquidity of Rivalry’s subordinate voting shares.” The pending agreement is subject to approval by the TSX Venture Exchange.
Under the conditions of the issuer trading services deal, Rivalry will pay Generation CAD $7,500 in monthly fees, along with applicable taxes. Both companies have agreed upon a six-month initial term, with a proviso that allows for additional six-month renewal periods, so long as the request is submitted in writing at least 30 days before the term expires.
After a year, Generation’s fee will increase by 3% annually, according to the terms of the deal. The agreement allows for Generation to terminate the deal “at any time upon prior written notice,” the company will not gain any Rivalry options or shares as payment.
Rivalry outlined the terms further and noted that both companies function independently. The group said in a statement, “Rivalry and Generation are unrelated and unaffiliated entities.Generation has informed the company that it does not currently own any securities of Rivalry. However, Generation and its clients may acquire a direct interest in the securities of the company.”
Rivalry recently launched its interactive casino platform, Casino.exe, which contains the company’s current and future titles. The platform features four recently developed titles, including Penalty Shootout, Bomb Squad, Wheel of Time and Courier Sweeper.
Rivalry designed Casino.exe as a virtual interface that allows users to access titles from the brand’s third-party casino titles within an interactive online space.
