Gaming Innovation Group Inc. (“GiG”) has today issued 70,000 new shares of its common stock in connection with exercises of options.
Gaming Innovation Group Inc. confirms that the new shares have been duly authorized by all necessary corporate action and that the new shares have been fully paid and validly issued. The Company’s share capital has increased from USD 90,005,626 to USD 90,075,626 and the number of outstanding shares has increased from 90,005,626 to 90,075,626 (par value USD 1.00). The new shares are issued by the board of directors under the Company’s 100,000,000 authorized shares.
In 2019 and 2020, employees in GiG exercised options to buy 70,000 shares, and GiG borrowed shares for the immediate transfer of shares to the optionees. The new shares will be transferred back to the lender.