Rivalry Corp. Management Cease Trade Order Update
Rivalry Corp. (the “Company” or “Rivalry”) continues to navigate the waters of compliance and strategic growth. The company has provided a recent update regarding the management cease trade order (MCTO) issued by its principal regulator.
Status of the Cease Trade Order
Recently, Rivalry Corp. announced that the MCTO was granted to the company, requiring it to manage its regulatory obligations diligently. This order, stemming from delays in filing annual financial reports for the year ended December 31, 2024, remains in effect until the company meets its filing requirements. Rivalry has stated that it aims to complete all outstanding filings by June 30, 2025.
Commitment to Compliance
In light of the MCTO, Rivalry is committed to adhering to the alternative information guidelines outlined under National Policy 12-203, ensuring transparency and accountability. The company has not reported any material changes since its initial announcement regarding this situation and is actively working to rectify the filing delays.
Financial Flexibility through New Loan Agreement
As part of its strategic initiatives, Rivalry Corp. has successfully secured a substantial US$650,000 unsecured loan from its current senior lender. This financial arrangement, which carries a 10% interest rate and is set to mature on September 30, 2025, underscores the lender's confidence in Rivalry's ongoing strategic review. The loan provides the company with additional operational flexibility as it continues to pursue its growth objectives.
Strengthening Long-Term Value
The financial support from this loan empowers Rivalry to further explore and enhance its strategic initiatives designed to maximize long-term stakeholder value. By securing this capital, Rivalry is positioning itself to effectively respond to market opportunities in the ever-evolving environment of sports betting and online gambling.
About Rivalry
Rivalry Corp. is a prominent name in the world of sports betting and media, owning and operating Rivalry Limited. This innovative company specializes in providing regulated online wagering on esports, traditional sports, and casino games tailored for a digital audience. With its headquarters in Toronto, Rivalry operates on a global scale and boasts an Isle of Man license, a testament to its commitment to regulatory standards within the online gaming industry.
Adapting to the Digital Revolution
Since its establishment, Rivalry has positioned itself as a leader among digital-first users, establishing a strong brand presence through creative execution in the online culture space. As the company prepares for future regulatory approvals, it aims to expand its reach further across international markets, continuously shaping the landscape of online gambling for generations to come.
Frequently Asked Questions
What is the status of Rivalry Corp.'s cease trade order?
The cease trade order remains in effect until Rivalry fulfills its filing obligations and the Ontario Securities Commission lifts the order.
How much funding has Rivalry Corp. secured recently?
Rivalry Corp. has secured a US$650,000 senior unsecured loan to support its strategic initiatives.
What are Rivalry Corp.'s plans regarding its annual financial filings?
The company plans to complete its annual financial filings by June 30, 2025.
How does Rivalry Corp. position itself in the online gambling market?
Rivalry positions itself as a leader by offering regulated online wagering specifically designed for the digital generation.
Who can I contact for more information about Rivalry Corp.?
For inquiries, you can contact Steven Salz, Co-founder & CEO, at ss@rivalry.com, or reach out to the investor relations team at investors@rivalry.com.
