i3 Announces Growth in India and shares AGM update
TORONTO, June 18, 2021 (GLOBE NEWSWIRE) — i3 Interactive Inc. (“i3 Interactive” or the “Company”) (CSE: BETS) (FRA: F0O3) (OTC: BLITF) is excited to share several updates with respect to the Company and its subsidiaries.
The Company is pleased to announce that all matters put forth to shareholders for approval at the Company’s Annual General and Special Meeting (the “Meeting”) held on Tuesday, June 1, 2021, have been approved with a significant majority of the votes cast in favor. The Company would like to thank its shareholders for their continued support and participation in the Meeting.
Following the Meeting, Mr. Troy Grant, Mr. Binyomin Posen and Mr. Brendan Purdy all agreed to serve on the board of directors of the Company.
Additionally, the Company announces that further to the press release dated May 21, 2021, it remains on track to complete its intended transaction, with a target of Summer 2021. This transaction will result in a transformational evolution of the Company’s goals as it looks to expand into new global markets. The product, marketing and business-level synergies resulting from the transaction will be a powerful growth factor for the Company, its subsidiaries, and all global partners for 2022 and beyond.
It is anticipated that trading in the Company’s common shares will remain halted until the transaction is complete.
i3 Interactive also announces the successful completion of several fundamental growth milestones in its subsidiary businesses.
BLITZPOOLS: Despite the Covid-based postponement of the IPL (India’s 2021 Premiere League of Cricket), BLITZPOOLS’ impressive growth in the fantasy sports ecosystem continues unabated. The site has added over one million new players since its launch. These exceptionally strong growth metrics are underpinned by BLITZPOOLS’ best-in-class Fantasy Sports Products, industry-leading Customer Care and the dynamic draw of the BLITZPOOLS brand positioning and continued expansion of the Team BLITZ Brand Ambassadors.
BLITZPOOLS’ CEO, Gaurav Assomull shares his thoughts: “We are excited about the progress to date and in the coming months we will have more to be excited about. We have had a great response since launching the new platform in February 2021. BLITZPOOLS has taken on the Indian market acquiring over one million users since launch. Considering a shortened IPL by half due to COVID, we are very pleased with our results and with our contributions to COVID relief in India via our recent donations. The calendar of events forthcoming is extremely positive for the fantasy sports market with India vs England series currently underway, the CPL in August, the next IPL confirmed in September, followed by the cricket World Cup; you can expect huge growth within the fantasy sport industry. BLITZPOOLS projects it will gain a further one million users from now through the cricket World Cup.”
With an innovative brand and marketing strategy and an award-winning product suite, BLITZPOKER continues to find strong growth across a multitude of demographics. During May 2021, BLITZPOKER recorded the highest revenue month in the site’s history, continuing the upward trajectory the site has enjoyed since it launched. As BLITZPOKER approaches one year in operation, it has seen 105% net revenue growth and 57% growth in active players.
North America Business: The Company continues to expand on its North American strategy. With BLITZBET in Canada continuing to grow and the recent agreement with a world renowned partner targeting the US, The Company is very excited about its prospects in this market. There are a number of opportunities currently being explored and as a result, the Company has expanded its team to add additional personnel and expects to provide further updates related to this market in the near future.
ABOUT I3 INTERACTIVE: i3 Interactive is a publicly traded company listed in Canada, USA and Germany (CSE: BETS; OTC: BLITF; FRA: F0O0). The Company, led by executives with over 100 years of online gaming experience globally, is in the business of providing significant value to investors and consumers by offering entertaining, exciting and engaging online games with a unique brand position and a blend of skill-based games and games of chance. The Company’s product suite includes social gaming, fantasy sports, quiz games, poker, rummy, sports betting, as well as thrilling games of chance as part of its certifiably fair online casino. The product offering is available in countries in line with each jurisdiction’s current regulatory environment. The Company will soon be adding to both its product offering and geographic availability as it strives to make its products available globally.
ABOUT BLITZPOOLS: i3 Interactive acquired LivePools Private Ltd. which was launched in February 2018 and rebranded as BLITZPOOLS in February 2021. Having surpassed 2.5 million registered users in India, BLITZPOOLS is targeting 10 million users in 2022. BLITZPOOLS is available for download in both the Google Play and iOS App Store as well as on desktop. BLITZPOOLS provides its users with fantasy sports software combined with all the statistics they need to make selections and predictions across multiple sports such as Cricket, Football and Kabaddi. It also offers its users the ability to engage with world class cricketers or to create their own challenges and invite their friends to play along. For more information, please visit www.blitzpools.com.
ABOUT BLITZPOKER: BLITZPOKER is part of one of the largest poker networks in the world, with well over one million users worldwide. Poker is one of India’s fastest growing gaming segments and BLTZPOKER is well positioned to capitalize on the growth of online poker playing in India. Featuring an award-winning set of poker applications, an innovative and contemporary brand management and marketing strategy, and a world-class leadership team, BLITZPOKER expects to continue its current growth trajectory. The BLITZPOKER client is available for download on iOS, Android, and PC, and offers users fast and flexible options, from recreational players to professionals. Discover why BLITZPOKER is one of India’s fastest growing poker rooms at https://www.Blitzpoker.com
For Additional Information about the Company:
Email: [email protected]
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. The forward-looking statements in this press release include statements relating to the Company’s completion of its intended transaction, statements relating to the Company’s growth trajectory, specifically with respect to BLITZPOOLS and BLITZPOKER. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements, including, without limitation, (i) the costs of compliance with and the risk of liability imposed under the laws of the jurisdictions in which the Company is operating or will operate (the “Operating Jurisdictions”) including gambling laws and regulations, sports betting laws and regulations and mobile or online gambling and sports betting laws and regulations, (ii) negative changes in the political environment or in the regulation of mobile and online sports betting or gambling and the Company’s business in the Operating Jurisdictions, (iii) risks relating to COVID-19 (iv) negative shifts in public opinion and perception of the gambling industry, (v) significant competition in the industry, (vi) risks of product liability and other safety-related liability as a result of usage of the Company’s planned gambling and betting products, (vii) loss of intellectual property rights or protections, (viii) cybersecurity risks, (ix) constraints on marketing products,(x) fraudulent activity by employees, (xi) risk of litigation (xii) risks associated with the Company’s ability to the close of the intended transaction, including risks that all closing covenants will not be upheld, and (xii) risks with respect to the Company’s ability to continue as a going concern. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) the Company will be able to fund the acquisition of the majority interest or additional tranches, as anticipated, (ii) the Company’s financial condition and development plans do not change as a result of unforeseen events, (iii) there will continue to be a demand, and market opportunity, for the Company’s product offerings, (iv) the Company will be able to establish, preserve and develop its brand, and attract and retain required personnel, (v) the growth of the gambling market in the Operating Jurisdictions, including the Indian gambling market, (vi) the Company’s success in breaking into the Indian gambling market, and (vii) current and future economic conditions will neither affect the business and operations of the Company nor the Company’s ability to capitalize on anticipated business opportunities) although considered reasonable by management of the Company at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of the Company in this press release may not be indicative of, and are not an estimate, forecast or projection of the Company’s future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.