Vancouver-based sports, entertainment and fan experience technology company Fantasy 6 Sports Inc. (CSE:FYS) (FRANKFURT:6F6) (WKN:A2AKL8) (OTC PINK:FNTYF) has signed an agreement with the BC Sports Hall of Fame to lead the implementation of a $1.5 million fan experience project at downtown sports stadium BC Place.
The upgrade to the BCSHF visitor galleries will help to modernize the fan experience and shine a new spotlight on some of BC’s most historic sports moments.
“As a Vancouver-based company, we are absolutely delighted to have the opportunity to be engaged with the BC Sports Hall of Fame on a project of this scope and magnitude in our own backyard, so to speak,” said Fantasy 6 President & CEO Shafin Diamond Tejani. “The project is perfectly aligned with our vision to expand the very definition of ‘fantasy sports’ to include everything from games and contests to immersive sports, virtual reality and other new frontiers in active fan engagement. We truly see it as the future in our space.”
Tejani was named Ernst & Young High Tech Entrepreneur of the Year for 2015.
Fantasy 6 develops interactive fan engagement platforms that corporations, media and broadcasters, not-for-profit societies and charities can use to develop new ways of communicating with fans, whether via games, contests or other digital engagement experiences.
For the past 50 years the BC Sports Hall of Fame has paid tribute to many of the players in BC’s sports communities, including athletes, coaches, managers and media, through their annual Banquet of Champions induction ceremony, while also using its “Hero In You” Youth Education Programs to honour, educate, and inspire British Columbians.
The BC Place Hall of Fame and Museum includes over 25,000 artifacts and 20,000 archival documents, representing 100 years of sporting accomplishments in BC.
This agreement with the BC Sports Hall of Fame follows on from news last week that Fantasy 6 Sports has signed a binding term sheet with Victory Square Labs Inc. for a new secured convertible note facility of up to $10 million, which the company will use to aggressively pursue and execute on its global growth strategy.
Tejani, who doubles as Founder and Chair of Victory Square, also hopes to fast-track a period of accelerated growth for Fantasy 6 through a series of acquisitions and strategic partnerships over the next several months.
“Our aggressive acquisition, marketing and growth plan is contingent on not only identifying the right partners and complementary assets to help make Fantasy 6 one of the sustainable leaders in the space, but on completing these desired transactions, partnerships and alliances in a timely fashion,” said Tejani. “This $10,000,000 secured convertible note facility will allow us to fulfil our vision for Fantasy 6 growth in 2016 and 2017 and establish a very strong foundation for the years to come.”
The convertible note facility is considered a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, owing to the fact that Tejani is the sole shareholder of Victory Square Labs Inc.
Because the fair market value of the Convertible Note does not exceed 25% of the Company’s market capitalization, the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.