NYX Gaming Group Announces Private Placement

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

LAS VEGAS, June 22, 2016 /CNW/ - NYX Gaming Group Limited ("NYX" or the "Company")(TSX-V: NYX) is pleased to announce today that it has entered into a private placement offering for a $10.5 million unsecured convertible debenture and 2,863,636 ordinary share purchase warrants with a private investor (the "Private Placement"). The warrants will have a three year term and a strike price of $3.50. The convertible debenture will bear interest at a rate of 10.0% annually (which interest may be payable in ordinary shares priced at $2.75 (the "PIK Shares"), subject to the dilution cap and the increased interest described below) and will mature on January 1, 2020. The convertible debenture may be converted into ordinary shares of the Company at a conversion rate of $2.75 per ordinary share with a maximum dilution of 4,200,000 shares (after taking into account the PIK Shares). After such dilution cap has been reached, the interest rate on the convertible debenture may be increased to a maximum of 14.42% such that the same number of PIK Shares shall be issuable at the then applicable market price at the increased interest rate as would have been issuable at $2.75 per ordinary share at the original interest rate. The proceeds of the Private Placement were used to settle in part amounts owing by a subsidiary of the Company to another private investor relating to a prior investment from December 2015. The Private Placement is expected to close on June 30, 2016. 

About NYX Gaming Group Limited

NYX Gaming Group Limited is a leading digital gaming provider headquartered in Las Vegas, USA with a staff of more than 1,100 employees based in 14 countries across Europe, North America, Asia, New Zealand and Australia. The Company provides one of the world's largest portfolios of leading content and technology to some of the foremost gaming operators, lotteries and casinos across the globe. NYX also has one of the broadest distribution bases in the industry with over 200 unique customers and the widest portfolio of content available from their own global studios and broad partner network. The diversified game catalogue delivers content across web and mobile formats, focusing on Bingo, Casino, Lottery and Sportsbook verticals.

NYX's Open Gaming System (OGS™) was recently named 2016 Platform of the Year in acknowledgement of its position as the industry's market-leading gaming offering, which allows licensees to leverage the best-of-breed multi-vendor casino content from around the world.

NYX Gaming Group Limited is listed on the TSX Venture Exchange under the symbol (TSXV: NYX).

Forward-Looking Statements

Certain statements included herein, including those that express management's expectations or estimates of NYX's future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "potential" or the negative of these terms or other similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to: expectations or projections about strategies and goals for growth and expansion.  Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward looking statements. Applicable risks and uncertainties include, but are not limited to: credit, market, currency, operational, liquidity and funding risks, including changes in economic conditions, interest rates or tax rates, the impact of government regulation on the on-line gaming industry and the risk that such regulation is subject to change, competition from other providers of online gaming services, the risks associated with international and foreign operations, the impact of consolidations in the online gaming industry and the other risks identified under the heading "Risk Factors" in the Company's annual information form dated April 26, 2016 as filed on SEDAR at www.sedar.com, and in other filings that NYX may make with applicable securities authorities in the future. The forward-looking statements contained herein reflect NYX's current views with respect to future events, and except as required by law, NYX does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events, or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE NYX Gaming Group Limited

For Media Enquiries please contact: Huw Thomas, Chief Corporate Development and Marketing Officer, NYX Gaming Group, M: [phone], E: [email protected]; Olivia Gillibrand, Head of Marketing, Openbet, Tel: [phone], E: [email protected]; For Investor Relations Enquiries please contact: Joann Head, Head of Investor Relations, NYX Gaming Group, M: [phone], E: [email protected]