Bragg Gaming Group Inc (TSXV:BRAG) announced Thursday that it will overhaul its board of directors after appointing industry veterans Akshay Kumar, Jim Ryan and Paul Pathak to its executive team.
"We're happy that Jim, Paul and Akshay have agreed to join the board," said Bragg Gaming CEO Dominic Mansour. "We're very focused on our objective of developing into a global gaming force, and we need a board with the skills to support that growth. Jim and Akshay both bring extensive gaming industry experience to the team, and Paul's expertise in M&A will be instrumental to our growth plan.”
Akshay Kumar was appointed as the Chief Financial Officer for Bragg Gaming, after holding positions at NetPlay TV PLC, and sports spread betting specialist Sporting Index.
Jim Ryan is an experienced online gaming executive, and CEO of Pala Interactive LLC, a leading online real money and social gaming B2B platform.
"I'm pleased to join Bragg in this exciting growth phase," said Ryan.
Paul Pathak is an established securities and investment industry lawyer, and partner at Chitiz Pathak LLP.
"Bragg's current momentum is particularly exciting," said Pathak. "They've implemented a major shift in strategic direction over the past months and are already seeing positive year-over-year growth on a number of key measures, including yield, global organic traffic and paid traffic. The Oryx acquisition has been very successful, with multiple new clients signing and going live since the announcement."
Separately, Bragg Gaming said that it has received the green light to distribute 27,058,802 units from securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario.
In a statement, the company said it had filed a short form prospectus in the three provinces and obtained a receipt from them, qualifying the distribution of the units, which are issuable on the exercise of 27,058,802 equity special warrants previously issued in December last year in a private placement.
Each unit is comprised of one common share of the company and one common share purchase warrant, with each warrant exercisable as a common share at a price of $0.76 per share at any time on or before November 29, 2020.
The Bragg Gaming Group is a reincarnation of a gambling company called Breaking Data and debuted on the TSX Venture Exchange under the current name Bragg in December 2018.
It has three core businesses: Oryx, an online casino technology group; GiveMeSport, a sports-focused media company and Facebook’s (NASDAQ:FB) largest sports publisher with more than 26 million fans; as well as GiveMeBet, a new online sports betting brand and casino site that aims to draw viewers from GiveMeSport.
Contact Uttara Choudhury at [email protected]