FansUnite Entertainment has detailed conditional approval to list its shares on the Toronto Stock Exchange in a move that will represent an uplisting from the Canadian Securities Exchange.
Final approval is subject to the company fulfilling certain customary conditions that are required by TSX. Once these have been completed, FansUnite’s common shares will be delisted from the Canadian Securities Exchange and will commence trading on TSX.
The company will issue a statement once TSX confirms the date on which trading will commence, with shareholders not required to take any action.
Shareholders are not required to exchange their share certificates or take any other action in connection with the listing as there will be no change in the trading symbol.
FansUnite’s common shares will continue to trade under the stock symbol ‘FANS’ upon listing on TSX and under the symbol ‘FUNFF’ on OTC markets in the United States.
“Uplisting to TSX from the Canadian Securities Exchange is an accomplishment for any public issuer, as evidenced by the number of companies that successfully make the transition,” commented Scott Burton, CEO of FansUnite.
“By trading on a larger exchange we are in a position to have greater reach to domestic and international institutional investors that are looking to add an established gaming operator to their portfolio.
“The listing serves as a significant milestone for FansUnite, and follows a number of important corporate milestones the Company has achieved since merging with Askott Entertainment in 2020.”
Last month, FansUnite reported a significant uptick in revenue, for the three month’s ending March 31, 2022, to $9.67m (2021: $1.07m), however, net loss during the same time frame swelled to $9.17m (2021: $2.49m).
The company, which offers B2B white label solutions for esports, traditional sports, and casinos, also boasts the UK-based sportsbook and online casino McBookie; VamosGG, an esports-first sportsbook and casino site; and Askott Games igaming developer as part of its stable.