Breaking Data plans private placement to raise funds for Oryx acquisition

Canadian digital technology group Breaking Data Corporation has revealed plans to raise Cdn$ 12 million in capital funds through a private placement on the Toronto stock exchange, primarily in order to fund its acquisition of online gambling games developer Oryx Gaming.

The agreement to purchase was signed in August this year (see previous report) when Breaking Data revealed plans to incorporate Oryx into a new online gambling company titled Bragg Gaming Group, headed by industry veteran Dominic Mansour.

In a stock market update, Mansour revealed: “This acquisition will transform the organization into a next-generation gaming group that will have a strong foundation for future growth with a significant opportunity to leverage the incumbent media assets and enter the exciting sports betting market.”

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