Bragg Gaming Group has raised $1.3m in aggregate gross proceeds after closing on the private placement of 751,445 subscription receipts, subject to escrow release conditions such as the completion of materials related to Bragg’s acquisition of Drayton International.
The supplier confirmed that net proceeds from the private placement will be used for “general corporate and capital purposes,” while each subscription receipt will be exchanged for one share and one non-transferable common share purchase warrant once conditions are met.
Each subscriber involved with the offering has agreed to not sell, transfer, dispose of or otherwise deal in their shares or warrants for four months following the transaction’s closing date.
The supplier also recently announced the results of its Annual General Meeting of Shareholders held on June 18, with shareholders voting on the re-election of Bragg's Board of Directors.
CEO Matevž Mazij failed to secure the majority shareholder's backing, receiving 44.33% of the vote in favor and 55.67% against. In accordance with the organization’s majority voting policy, Mazij has submitted an offer to resign from the Board.
Mazij served as Bragg CEO for nearly three years, having also held positions such as Chair of the Board of Directors from June 2023 to April 2025, Vice Chair from November 2021 to June 2023 and as a Board Member.
Holly Gagnon, Mark Clayton, Thomas Winter, Donald Robertson and Aaron Baryoseph were elected as Directors of Bragg, receiving more than a majority of the votes for their re-election.
At the Meeting, MNP was reappointed as the supplier's auditor for the upcoming year, and the Board of Directors was authorized to determine the auditor's compensation.
Massive Gaming agreed to a content distribution partnership with Bragg on June 15, giving the Australian-headquartered supplier access to Bragg’s operator network across select regulated markets
