Betmakers Technology Group Ltd Stock Market Press Releases and Company Profile
Completion of the Global Tote Technology Deal and Share Purchase Plan
Completion of the Global Tote Technology Deal and Share Purchase Plan

Sydney, May 24, 2017 AEST (ABN Newswire) - Further to the announcement made 13 January 2017, the Board of TopBetta Holdings Limited (googlechartASX:TBH) ("TopBetta" or "Company") is pleased to announce that it has completed the transaction with Modern Wagering Systems Pty Ltd ("MWS") and Live Datacast Pty Ltd ("Live Datacast") pursuant to which the Company's wholly owned subsidiary, The Global Tote Limited ("TGT"), has (amongst other things) been granted exclusive rights to the software underpinning The Global Tote technology.

Highlights

- Completion of transaction with Modern Wagering Systems and Live Datacast regarding intellectual property rights associated with The Global Tote technology

- TopBetta Share Purchase Plan opens today

As previously announced, MWS has assisted TGT in its development of custom software components which, in conjunction with MWS' existing wagering technologies, comprise the worldfirst B2B only tote derivative product, The Global Tote. As part of the transaction, MWS has granted to TGT an irrevocable, perpetual, royalty free licence to use the MWS' existing wagering technologies for The Global Tote, on an exclusive basis for the first two years of the licence and thereafter, on a non-exclusive basis. Live Datacast also provided key consultancy services for the commercial and strategic development of The Global Tote launch. In consideration for these services, the Company has:

1) paid $100,000 to each of MWS and Live Datacast;
2) issued a total of 3.5 million shares to MWS and Live Datacast (in equal proportions), 2.5 million of which are voluntarily escrowed for 12 months. Shareholder approval for the issue of these shares was obtained on 14 March 2017;
3) transferred its partly paid shares in MWS (on which $150,000 was paid) to the other shareholders of MWS for nil consideration; and
4) terminated its call option over shares in MWS.

Additionally, TopBetta and MWS are finalizing their negotiations in respect of a wholesale distribution agreement pursuant to which TopBetta will be irrevocably appointed as the exclusive wholesale distributor for all MWS products for a period of 2 years. The Global Tote will also be looking to partner with Live Datacast to distribute the live odds feed for The Global Tote product into its partners site(s), along with Live Datacast being a wholesaler for the distribution of the RISA feeds and information.

TopBetta's Managing Director, Todd Buckingham, said: "The completion of the MWS deal now positions the Company to focus on the marketing of the Global Tote. We are looking forward to updating the market on progress of The Global Tote in the coming weeks."

An Appendix 3B and cleansing statement are attached (see the link below) in respect of the issue of shares to MWS and Live Datacast.

Launch of Share Purchase Plan

Further to the Company's announcements on 11 May and 17 May 2017, TopBetta is pleased to announce the offer to certain eligible shareholders of the right to participate in TopBetta's Share Purchase Plan ("SPP") at similar, or more favourable, pricing as that offered to the sophisticated and institutional investors under the placement completed on 17 May 2017. The Company is looking to raise a maximum of $500,000 under the SPP, but may accept oversubscriptions.

The offer under the SPP is open to registered shareholders as at the record date of 10 May 2017 (being the date prior to the Company's announcement of the SPP as required under the ASX Listing Rules). The offer under the SPP will open today and close on 16 June 2017. The Directors of TopBetta intend to participate in the SPP.

To view the Share Purchase Plan, please visit:
http://abnnewswire.net/lnk/5237SCN3

To view the release, please visit:
http://abnnewswire.net/lnk/8SIP51ZO


About Betmakers Technology Group Ltd

Betmakers Technology Group LtdBetmakers Technology Group Ltd (ASX:BET)  (OTCMKTS:TPBTF) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.

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Contact

Charly Duffy
Company Secretary
E: companysecretary@thebetmakers.com
M: + 61-409-083-780

Jane Morgan
Investor and Media Relations
E: investors@thebetmakers.com
M: +61-405-555-618



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