The first placement of up to 7,758,621 share units has been closed by Millennial Esports Corporation of Canada.
The non-brokered placement has been made at US$0.58 per unit and the proceeds from the first sale of $3,872,733 was raised for 6,677,127 units by closure.
Each "unit" is one common share in the company and one-half of a common share purchase warrant. A whole warrant entitles the holder to buy an additional share at some stage in the following 18 months at a price of $0.72 per share.
The company will issue another placement to close on July 24.
Millennial owns and operates thE Arena, the first permanent e-sports arena and studio in Las Vegas, in Fremont Street. It also owns streamhatchet.com, a data analytics company for the video game streaming industry, and Millenialsports.gg, an e-sports platform.
