Original News Release
Overactive closes $2-million debt financing
Mr. Adam Adamou reports
OVERACTIVE MEDIA CLOSES PREVIOUSLY ANNOUNCED C$2 MILLION DEBT FINANCING
Overactive Media Corp. has closed its previously announced upsized debt financing for aggregate gross proceeds of $2-million.
The financing consists of two secured promissory notes, each in the principal amount of $1-million: one issued to an entity controlled by Sheldon Pollack and one issued to an entity controlled by the Kimel family. In connection with the financing, the company issued an aggregate of 660,000 common share purchase warrants, with 330,000 warrants issued to each lender. Each warrant entitles the holder to acquire one common share of the company at an exercise price of 30 cents per share for a period of one year from the date of issuance. The proceeds of the financing will be used for general working capital purposes.
All securities issued in connection with the financing are subject to a four-month statutory hold period in accordance with applicable securities laws and the policies of the TSX Venture Exchange, which will expire on Feb. 22, 2026.
About Overactive Media Corp.
Overactive is a global media, sports and entertainment company focused on delivering integrated marketing solutions, content and live experiences through its portfolio of e-sports teams, proprietary platforms and digital products. With operations in Toronto, Madrid and Berlin, Overactive owns team franchises in some of the world's most prominent e-sports leagues, and is home to Movistar KOI and Toronto Ultra.
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