KELOWNA, BC – October 9, 2018 – ProSmart Enterprises Inc. (TSXV:PROS) (“ProSmart” or the “Company”), a global online network, connecting sports fans, teams and brands, announces that further to its news release dated August 31, 2018, the Company has settled a total of $40,000 of debt (the “Debt”) by the issuance of 177,777 common shares in the capital of the Company (the “Shares”) at a deemed price of $0.225 per Share (the “Shares for Debt Settlement”).
The Company also announces that it has issued 350,373 Shares to Firestitch Inc. in payment of an invoice issued under the software development agreement previously announced on March 8, 2018 and approved by the TSX Venture Exchange (the “TSX-V”) on October 4, 2018 Share (the “Shares for Services Settlement”). The invoice owing to Firestitch is in the amount of $124,733. The number of Shares issued is based on a deemed price of $0.356 per Share, calculated as the average price per Share on the TSX-V for the five days subsequent to the end of the month in which the services were performed.
All securities issued in connection with the Shares for Debt Settlement and the Shares for Services Settlement are subject to a statutory hold period expiring on February 6, 2019 in accordance with applicable securities legislation.
Co-Founder & Chief Executive Officer
About ProSmart Enterprises Inc.
ProSmart Enterprises Inc. (TSX-V:PROS) is the parent company of SportgoTM, a global online network connecting sports fans, teams and brands and is an emerging leader in sports content marketing through online tools and mobile apps. SportgoTM works with over 1,500 governing bodies in more than 100 countries and provides unprecedented access to the $1.3 trillion sports market1 through its proprietary Marketplace Engine. SportgoTM is also the first-and-only online network to provide educational content created exclusively by hall-of-fame and professional athletes, which has been a key driver in user growth.
1 Source: Plunkett Research. Ltd.
For more information on ProSmart and SportgoTM, please visit the following links:
ProSmart Enterprises Inc.: http://prosmartinc.com
For further information please contact:
The shares of ProSmart Enterprises Inc. trade publicly on the TSX Venture Exchange under the symbol TSXV:PROS.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”