Bragg Gaming Signs Agreement to Extend Maturity of Promissory Note Owned to Doug Fallon's Entities

MT Newswires Live

Jul 17

Bragg Gaming Group (BRAG) said Thursday it has signed a deal to extend the maturity date of its current promissory note owing to entities controlled by Doug Fallon to Aug. 15.

A total principal amount of $2 million is outstanding, the company added.

Bragg Gaming said it also anticipates securing an up to $6 million senior secured revolving credit facility with an unnamed Canadian bank in the coming weeks, to be used for working capital, growth strategies and general corporate purposes.

The iGaming content and technology provider also said the credit facility is expected to be available after the repayment of the note, which the company expects to repay from its cash on hand.

Brag shares were down 1.5% in premarket trading Thursday.

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