theScore, Inc. Announces Closing of $17.25M Financing

- Offering accelerates development and marketing of leading mobile sports app

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/

TORONTO, May 6, 2014 /CNW/ - theScore, Inc. (TSX Venture: SCR) ("theScore" or the "Company") is pleased to announce that it has closed its previously announced public offering of Class A Subordinated Voting Shares (the "Class A Shares") of theScore, concurrently with the full exercise of the over-allotment option, through a syndicate of underwriters led by Beacon Securities Limited and including Canaccord Genuity Corp., for gross proceeds of $9,108,000 (the "Bought Deal Offering"). theScore is also pleased to announce it has closed its previously announced private placement of Class A Shares for gross proceeds of $8,142,000, which together with the Bought Deal Offering raised aggregate gross proceed of approximately $17,250,000. The shares issued pursuant to the private placement will be subject to a hold period expiring September 8, 2014.

The net proceeds from the offerings will be used to support the ongoing development of the Company's flagship mobile sports app "theScore" and the expansion of sales and marketing efforts and for general corporate and working capital purposes.

"We are very pleased with the support received from the financial community," said John Levy, Chairman and CEO of theScore. "It is a very exciting time for all of us at theScore as we continue to aggressively build our mobile-first sports offering."

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from such registration requirements is available.

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About theScore, Inc.
theScore creates mobile-first sports experiences, connecting fans to what they love through an addictive combination of real-time news, scores, fantasy information and alerts while creating and curating content that is mobile optimized, comprehensive, customizable and seamlessly shareable. theScore is available on iOS, Android, BlackBerry and Windows Phone devices.

Forward-looking (safe harbour) statement
Statements made in this news release that relate to future plans, events or performances are forward-looking statements.  Any statement containing words such as "may", "would", "could", "will",  "believes", "plans", "anticipates", "estimates", "expects" or "intends" and other similar statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Such statements reflect theScore's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including among other things, those which are discussed under the heading "Risk Factors" in the Company's Annual Information Form as filed with the TSX Venture Exchange and available on SEDAR at www.sedar.com and elsewhere in documents that theScore files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as required by applicable law or regulatory requirements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: theScore, Inc.

James Bigg
Manager, Communications
theScore, Inc.
Tel: [phone] ext. 2366
Email: [email protected]

Tom Hearne
Chief Financial Officer
theScore, Inc.
Tel: [phone] ext. 2206
Email: [email protected]