YDreams Global Interactive Technologies Inc. (TSXV: YD) (OTC Pink: YDRMF) (FSE: APY) ("YDreams Global" or the "Company"), announces today that, further to its news release dated July 6, 2018, it has closed its non-brokered private placement (the "Private Placement") with Flavio Jansen, a strategic investor who will bring a wealth of experience in growing businesses to YDreams Global. The Company intends to use the proceeds from the Private Placement for the expansion and growth of the Company's Arkave VR (Virtual Reality) gaming platform as well as general working capital.
Pursuant to the Private Placement, the Company has issued 4,400,000 units (each, a "Unit") at a price of $0.15 per Unit, for gross proceeds of $660,000. Each Unit consists of one common share (a "Unit Share") and one transferable share purchase warrant (a "Warrant"), each Warrant being exercisable into one common share (a "Warrant Share') at $0.25 for a period of five years. The Unit Shares and the Warrant Shares, when issued, are subject to a 4-month hold period expiring November 10 2018.
Flavio Jansen is a serial entrepreneur and has built several multimillion dollar corporations over his career. Mr. Flavio Benício Jansen Ferreira recently became an Independent Director of Estácio Participações SA, which is the second largest higher education company in Brazil by number of students and ad revenues of US$1 billion in 2017. He has previously served as CEO of Locaweb Internet S.A. and was the CEO of the Submarino.com website during its IPO on the Bovespa and merger with Americanas.com, which resulted in B2W, an online retail company which had revenues of US$2.1 billion in 2017.
He will be collaborating with the YDreams Global team on the expansion phase of the Company's Arkave VR. With the proceeds from the Private Placement, the Company hopes to finalize several strategic licensing deals with well-known media companies and several building equipment contracts for arenas that are in advanced negotiations.
Francisco Chaves, Head of Arkave, states, "We look forward to advancing and expanding our Arkave platform and recent agreements like the Quanta DGT MOU, which are expected to bring Arkave VR to over 1,000 movie theatres and show the tremendous potential of the product. It is a testament to Arkave VR's unique innovation and quality that it has attracted someone of Flavio's caliber and we are excited to be working with him. As the Company embarks on a strong growth phase, we will increasingly need to lean on people who have taken companies to the next level. Flavio is one of the most respectable business leaders in Brazil and YDreams Global is excited to have him on board."