eSports organization Rivalry set to go public in Canada
By Bob Garcia
The eSports group has been added to the TSX exchange with the ticker RVLY
Beyond just focusing on events and major competitions, eSports companies also have other moves that are important for their future development. Such is the case of Rivalry Corp, a media and sports betting company whose shares have been listed on the TSX Exchange in Canada since midweek. RVLY is the ticker symbol that was assigned to the brand.
Operating through a license issued in the Isle of Man, the company has begun to experience exponential growth in recent years. During this year alone, Rivalry has been able to secure significant funding through a series of financing rounds, which will be perfect for taking its initial eSports offering to an even broader interactive gaming and gambling focus.
Now that the company has positioned itself on a Canadian exchange, it hopes to add more capital to its operations, which will serve as leverage to launch even more new products and verticals. According to Seven Salz, co-founder and CEO of Rivalry, this move will open the way for the company to build on the momentum it has been demonstrating over the past few years. Plans are underway to further develop and secure a presence in Canada and Australia.
“Listing publicly on the TSXV marks the next major step in Rivalry’s journey,” Salz said. “We are building the most comprehensive betting and entertainment experience for the next generation globally, and feel we are just getting started.”
Following last Wednesday’s news, Rivalry expects to have outstanding securities issued for 53.2 million subordinated shares, 2.2 million multiple voting shares, and approximately 6.4 million warrants to purchase subordinated shares.