Toronto, Ontario--(Newsfile Corp. - April 20, 2022) - Gamelancer Gaming Corp. (CSE: GMNG) (formerly, Wondr Gaming Corp.) ("Gamelancer" or the "Company") announces that it anticipates being late in filing its audited annual financial statements (the "Annual Financial Statements"), management discussion and analysis ("MD&A") and certificates of the Chief Executive Officer and Chief Financial Officer (collectively, the "Filings") for the year ended December 31, 2021, by the prescribed deadline of May 2, 2022.
During the year ended December 31, 2021, the Company completed the acquisitions of Hot Dot Media Inc. and Enterprise Gaming Canada Inc. (the "Acquisitions"). As a result of the Acquisitions, the Company is delayed in providing its independent auditors with the necessary valuations and impairment testing required to gain reasonable comfort to complete and file the Annual Financial Statements and MD&A.
The Company has made an application with the applicable securities regulators under National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") requesting that a management cease trade order be imposed in respect of the anticipated late filing rather than an issuer cease trade order. The issuance of a management cease trade order does not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in their securities.
The Company anticipates that it will in a position to prepare and file the Filings on or prior to May 20, 2022.
The Company confirms: (i) that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the filing requirements to file the Filings within the prescribed period of time; (ii) the Company is not subject to any insolvency proceedings; and (iii) the Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.
About Gamelancer
Gamelancer Gaming Corp. a publicly traded entertainment company on the Canadian Securities Exchange, is a growing mobile focused social media network in gaming - generating over 1 billion+ monthly video views across its 22 owned and operated channels. With over 26,500,000 followers on TikTok, Instagram, and Snapchat, predominantly located in the US, Canada, the UK, and Australia, Gamelancer sells direct and programmatic media across its network to the world's largest brands. With advanced user data analytics, we provide our audience curated content relevant to the GenZ & Millennial gaming community, which allows brands unparalleled access to the largest media inventory in gaming across TikTok, Instagram, and Snapchat. Gamelancer also monetizes across its variety of Snapchat Gaming channels with monthly recurring revenue in partnership with Snapchat.
For further information, please contact:
Jon Dwyer, Chairman and Chief Executive Officer
Email: investor@wondrgaming.com;
Bill Mitoulas, Investor Relations
Tel: (416) 479-9547
Email: bill@wondrgaming.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this news release contains forward-looking statements and information relating, the potential future acquisitions of the Company and the completion of the Offering. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121075
