The Continued Buzz Surrounding FansUnite Entertainment Inc. (OTCQB: FUNFF) (CSE: FANS) | The Continued Buzz Surrounding FansUnite Entertainment Inc. (OTCQB: FUNFF) (CSE: FANS)Financial Buzz

The Continued Buzz Surrounding FansUnite Entertainment Inc. (OTCQB: FUNFF) (CSE: FANS)

About Fans Unite:

FansUnite is a sports and entertainment company, focusing
on technology related to regulated and lawful online sports betting and other related products. The Company’s mission is to be the iGaming industry leader by providing vertically integrated platforms with a portfolio of unique products and a focus on esports, sports betting, casino and the next generation of bettors.

Our Behind the Buzz Show Featuring Fans Unite:

Investor Recap:

Organization:

B2B Offerings:

A complete B2B sports & esports white label iGaming solution. Two distinct offerings (turn-key & API) make it the most flexible gaming platform on the market.

Robust client dashboard with tailored reporting and real-time analytics.

Askott Games is Askott’s newest division developing exclusive casino style RNG games with esports and video game themes. In addition to being offered to all partners on the Chameleon platform, Askott is licensing its games to external casino aggregators, opening them up to hundreds of online casinos and sportsbooks.

Recent Developments:

January 19, 2021 - FansUnite Enters into Partnership with OneComply to Assist with U.S. Licensing Strategy

FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF) (“FansUnite” or the “Company”) and Vancouver-based OneComply Inc. (“OneComply”) have entered into a partnership. OneComply, a compliance and licensing solution, will assist FansUnite as they enter additional North American legalized gaming jurisdictions by advising on protocol and strategy.

This move follows the June 2020 announcement by FansUnite of the amalgamation with Vancouver-based Askott Entertainment Inc. to create one of Canada’s leading online gaming companies, focused on sports betting, esports wagering, and casino games.

“We are pleased to be partnering with OneComply as we look to tackle the North American gaming market,” said Scott Burton, CEO of FansUnite. “As a licensed betting and iGaming company, we understand how difficult and nuanced the licensing process can be. With the help of OneComply, we will be able to streamline the process to enter new North American markets and showcase our suite of gaming solutions to a broader audience.”

The repeal of PASPA, being the Professional and Amateur Sports Protection Act, has created a wave of newly regulated States across the United States’ gaming market. Companies seeking to gain market entry into these States face massive regulatory processes to obtain operational licenses. The United States legalized gaming industry is State-regulated, meaning companies need to file for each jurisdiction independently. These individual disclosure filings can be thousands of pages in size resulting in substantial internal and external expenses.

“The amount of opportunity in North America for new-to-market companies can be overwhelming given the various licensing processes and jurisdictional requirements, with companies no longer trying to enter one jurisdiction, but multiple jurisdictions simultaneously. This creates a tremendous amount of lag in productivity even with the most seasoned of compliance and legal teams,” said Cameron Conn, CEO of OneComply Inc. “We understand the importance FansUnite places on regulation, and we look forward to supporting them scale in the North American market.”

For Full Release: https://www.newsfilecorp.com/release/72299/FansUnite-Enters-into-Partnership-with-OneComply-to-Assist-with-U.S.-Licensing-Strategy

January 11, 2021 - FansUnite Entertainment Announces Closing of Upsized and Oversubscribed $13.4 Million Private Placement Led by Gravitas Securities Due to Strong Investor Demand

FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF) (“FansUnite” or the “Company“), a technology company providing leading online gaming solutions, is pleased to announce that it has completed its previously announced upsized and oversubscribed private placement of transferable special warrants of the Company (“Special Warrants“) for aggregate gross proceeds of $13,388,120 (the “Offering“). The Offering consisted of a brokered portion (the “Brokered Private Placement“) and a non-brokered portion (the “Non-Brokered Private Placement“) for aggregate gross proceeds of $12,611,250 and $776,870, respectively. Pursuant to the Offering, a total of 21,420,992 Special Warrants, including an aggregate of 2,578,000 Special Warrants issued as a result of the exercise of the agent’s over-allotment option, were sold at a price per Special Warrant of $0.625 (the “Offering Price“).

The Brokered Private Placement was conducted by Gravitas Securities Inc., as lead agent and sole bookrunner (“Gravitas” or the “Lead Agent“) with a syndicate of agents including Haywood Securities Inc. and Mackie Research Capital Corporation (together with the Lead Agent, the “Agents“).

Each Special Warrant entitles the holder thereof to receive one unit of the Company (each, a “Unit“), without payment of additional consideration, with each Unit being comprised of one common share of the Company (a “Common Share“) and one half (1/2) of one transferable Common Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant will entitle the holder thereof to acquire one Common Share (each, a “Warrant Share“) at an exercise price of $0.78 (“Warrant Exercise Price“) per Warrant Share for a period of 24 months following the closing of the Offering (the “Closing Date“).

The Special Warrants and the Warrants were created and issued pursuant to, and are governed by, the terms of a special warrant indenture and a warrant indenture, respectively, entered into between the Company and Odyssey Trust Company, as indenture trustee, and will be transferable pursuant to the terms of such indentures.

“The successful closing of this upsized financing provides further validation that the global gambling market is seeing a resurgence in demand from investors,” said Scott Burton, CEO of FansUnite. “Despite the headwinds caused by the global pandemic in 2020, we saw consumers adopt and embrace online betting for its ease of access and simplicity. With our seasoned team of gaming operators, global B2C brands, and our industry adopted B2B technology platform, we were able to execute on multiple milestones that delivered value to our customers and shareholders.”

“As we now look to advance our operations globally, we believe this additional capital will allow us to explore strategic initiatives and execute on our vision of becoming a globally recognized iGaming leader.”

The net proceeds raised under the Offering will be used for working capital and general corporate purposes.

As soon as reasonably practicable after the Closing Date, the Company will use commercially reasonable efforts ‎to prepare and file with each of the securities regulatory authorities in each of the provinces of British Columbia, Alberta, Manitoba and Ontario (the “Jurisdictions“), and obtain a receipt for, a final short form prospectus (the “Final Prospectus“), qualifying the distribution of the Special Warrants issued pursuant to the Offering (and, thereby, qualify the distribution of the Common Shares, Warrants and Warrant Shares underlying the Special Warrants), in compliance with applicable securities law, within sixty (60) days from the closing of the Offering.

In the event that the Company has not received a receipt for the Final Prospectus within sixty (60) days following the Closing Date, each unexercised Special Warrant will thereafter entitle the holder thereof to receive upon the exercise thereof, at no additional consideration, one-and-one-tenth (1.10) Unit (instead of one Unit) (the “Penalty Ratio“), provided that nothing shall require the Company to issue fractional Units or Common Shares and Warrant underlying such Units, and any fractions resulting from the application of the Penalty Ratio shall be rounded down to the nearest whole number.

As consideration for its services in connection with the Brokered Private Placement, the Company paid to the Agents a cash commission equal to $931,350 and issued to the Agents a total of 1,490,160 non-transferable agent warrants (the “Agent Warrants“). Each Agent Warrant entitles the holder to purchase one unit of the ‎Company (each, an “Agent Unit“) on the same terms as ‎conditions as the Units, at a price per unit equal to the Offering Price for a period of 24 ‎months from the date of issuance thereof, with each Agent Unit being comprised of ‎one (1) Common Share and one half (1/2) of one non-‎transferable Common Share purchase warrant (each whole warrant, an “Agent Unit ‎Warrant“). Each Agent Unit Warrant shall be exercisable into one Common Share at the Warrant Exercise Price for a period of 24 months from the ‎Closing Date.

Gravitas also provided fiscal advisory services pursuant to the terms of a fiscal advisory agreement (the “Fiscal Advisory Agreement“) with respect to the Non-Brokered Private Placement. Pursuant to the Fiscal Advisory Agreement, the Company paid Gravitas a fiscal advisory fee equal to $49,899.60 and issued to the Lead Agent a total 79,839 advisor warrants (the “Advisor Warrants“). Each Advisor Warrant entitles the holder to purchase one unit of the ‎Company (each, an “Advisor Unit“) on the same terms and conditions as the Units, at a price per unit equal to the Issue Price for a period of 24 months from the date of issuance thereof, with each Advisor Unit being comprised of one (1) common share and one half (1/2) of one non-transferable Common Share purchase warrant (each whole warrant, an “Advisor Unit Warrant“). Each Advisor Unit Warrant shall be exercisable into one Common Share at the Warrant Exercise Price for a period of 24 months from the Closing Date. Gravitas has also been issued non-brokered units (the “Non-Brokered Units“). Each ‎Non-Brokered Unit is comprised of one (1) Common Share and one-half of one (1/2) Common ‎Share purchase ‎warrant (each whole warrant, a “Non-Brokered Unit Warrant“). Each whole Non-Brokered Unit ‎Warrant ‎shall be exercisable into one Common Share at the Warrant Exercise Price for a period of 24 months from the Closing Date. ‎

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the “United States” or to “U.S. persons” (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“)) or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered, and the securities issuable pursuant thereto, have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or in compliance with an applicable exemption therefrom.

For Full Release: https://www.newsfilecorp.com/release/71755/FansUnite-Entertainment-Announces-Closing-of-Upsized-and-Oversubscribed-13.4-Million-Private-Placement-Led-by-Gravitas-Securities-Due-to-Strong-Investor-Demand

December 16, 2020 - FansUnite Entertainment Announces Upsizing of Previously Announced Brokered Private Placement Led by Gravitas Securities Inc. to $11 Million Due to Strong Investor Demand

FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF) (“FansUnite” or the “Company“), a technology company providing leading online gaming solutions, is pleased to announce that, due to strong investor demand, it has entered into an amended agreement with Gravitas Securities Inc., as lead agent and sole bookrunner (the “Lead Agent“) on its own behalf and, on behalf of a syndicate of agents including, Haywood Securities Inc. and Mackie Research Capital Corporation (collectively with the Lead Agent, the “Agents“), to increase the size of the previously announced private placement of the Company.

Pursuant to the increase, the Company will offer for sale up to an aggregate of 17,600,000 special warrants of the Company (the “Special Warrants“) at a price of $0.625 per Special Warrant for aggregate gross proceeds of approximately $11 million (the “Offering“). The Company has also amended the option granted to the Agents, to provide for the sale of up to an additional 2,640,000 Special Warrants (the “Over-Allotment Option“), which Over-Allotment Option is exercisable in whole or in part at any time up to 30 days following the closing of the Offering. The initial closing date is expected to be on or about the week of January 11th, 2021 (the “Closing Date” or “Closing“) and the Offering may be completed in one or more closings at the discretion of the Lead Agent.

Each Special Warrant shall be exercisable, for no additional consideration at the option of the holder, into one unit of the Company (each, a “Unit“), with each Unit being comprised of one common share of the Company (a “Common Share“) and one half (1/2) of one non-transferable Common Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant will entitle the holder thereof to acquire one Common Share (each, a “Warrant Share“) at an exercise price of $0.78 per Warrant Share for a period of 24 months after Closing (the “Expiry Date“).

“Due to overwhelming demand from a broad range of investors, we have decided to increase our private placement offering to $11M from our previously announced target of $5M,” said Scott Burton, CEO of FansUnite Entertainment. “The upsizing of our financing provides us with confidence that the investment community believes in our continued vision of becoming a leader in the global iGaming industry, while providing us the necessary capital to pursue strategic opportunities to enhance shareholder value.”

The net proceeds raised under the Offering will be used for working capital and general corporate purposes.

As soon as reasonably practicable after the Closing, the Company will prepare and file with each of the securities regulatory authorities in each of the provinces of British Columbia, Alberta, Manitoba and Ontario, (the “Jurisdictions“) and obtain a receipt for, a final short form prospectus (the “Final Prospectus“), qualifying the distribution of the securities issued pursuant to the Offering, in compliance with applicable securities law, within sixty (60) days from the Closing of the Offering.

In the event that the Company has not received a receipt for the Final Prospectus within sixty (60) days following the Closing, each unexercised Special Warrant will thereafter entitle the holder thereof to receive upon the exercise thereof, at no additional consideration, one-and-one-tenth (1.10) Unit (instead of one Unit) (the “Penalty Ratio“), provided that nothing shall require the Company to issue fractional Units or Common Shares and Warrant Shares underlying such Units, and any fractions resulting from the application of the Penalty Ratio shall be rounded down to the nearest whole number.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

For Full Release: https://www.newsfilecorp.com/release/70497/FansUnite-Entertainment-Announces-Upsizing-of-Previously-Announced-Brokered-Private-Placement-Led-by-Gravitas-Securities-Inc.-to-11-Million-Due-to-Strong-Investor-Demand

December 16, 2020 - FansUnite Entertainment and GameCo to Create the First Esports Sportsbook in the United States with Sky Ute Casino in Colorado

FansUnite Entertainment Inc (CSE: FANS) (OTCQB: FUNFF) (“FansUnite” or the “Company”), a technology company providing leading online gaming solutions, is pleased to announce its partner, GameCo LLC (“GameCo”), a Las Vegas based pioneer in Video Game Gambling™, has entered into a partnership with US Bookmaking and Sky Ute Casino to establish the first dedicated esports sportsbook in the United States. Wholly owned subsidiary Askott Entertainment will supply its iGaming platform, Chameleon, as part of a fully integrated esports betting solution.

Through GameCo’s partnership with Sky Ute Casino and US Bookmaking, FansUnite will be the first iGaming solutions provider to receive significant exposure in the U.S. esports betting market.

As previously announced on September 2nd, 2020, FansUnite entered into a partnership with GameCo to establish a fully integrated turnkey esports betting solution for online casinos and sportsbooks in the United States. Under the agreement with GameCo and Sky Ute Casino, Askott Entertainment’s Chameleon iGaming Platform will form the basis of GameCo’s esports betting offering alongside GRID’s data platform and 10Star’s odds feed and risk management services, resulting in an esports sportsbook with extensive and broad-ranging services that are geared towards the younger demographic of online gamblers.

“We are delighted to be part of the first-ever real money esports sportsbook in the U.S. as it represents a major milestone for FansUnite and the entire betting community globally,” said Scott Burton, CEO of FansUnite Entertainment. “Entering the U.S. market has always been part of our growth roadmap and partnering with GameCo in September represented a channel for us to introduce our leading B2B esports betting solution to a sizable and growing market. This latest customer win has exceeded our own expectations and validates our technology, strategy, and legitimacy of our organization. With our first casino customer now in hand, we are eager to continue our collaboration with GameCo, GRID, and 10 Star to establish a larger presence in the U.S. market.”

Blaine Graboyes, Co-Founder and CEO of GameCo added, “This marks a new era for GameCo as we will be the frontrunners in capturing revenue from an untouched segment in the U.S. online casino market. We require the most innovative technology that will provide a strong backbone for our betting systems and we are pleased that FansUnite is able to fulfill that need with the Chameleon iGaming solutions.”

About FansUnite Entertainment Inc.

FansUnite is a global sports and entertainment company, focusing on technology related to regulated and lawful online gaming and other related products. FansUnite has produced a one of a kind complete iGaming platform, with a sports and esports focus geared for the next generation of online bettors and casino players. The platform includes products for pre-match betting, in-play betting, daily fantasy, content and a certified RNG to produce casino style chance games. The platform operates multiple B2C brands and B2B software for the online gambling industry. FansUnite also looks to acquire technology platforms and assets with high-growth potential in new or developing markets.

For Full Release: https://www.newsfilecorp.com/release/70427/FansUnite-Entertainment-and-GameCo-to-Create-the-First-Esports-Sportsbook-in-the-United-States-with-Sky-Ute-Casino-in-Colorado

December 7, 2020 - FansUnite Entertainment Receives Malta Gaming Service License and Critical Gaming Supply License

FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF) (“FansUnite” or the “Company”), a technology company providing leading online gaming solutions, is pleased to announce that Askott Entertainment (Malta) Ltd. and E.G.G Limited, wholly owned subsidiaries of FansUnite Entertainment, have received approval from the Malta Gaming Authority (“MGA”). The Gaming Service License and Critical Gaming Supply license were received on December 4th, 2020. Both licenses are effective for a term of 10 years from the date of grant.

FansUnite will now be able to offer a full spectrum of online gambling services in Europe, covering Casino, Fixed Odds Betting, Pool Betting and Controlled Skilled Games.

With MGA approval received, FansUnite will be joining other highly respected gambling companies such as PokerStars, Betfair and Unibet in operating their business within MGA regulations.

The Malta Gaming Authority is a gambling regulatory organization that provides top-tier industry standard gaming licenses that are in line with EU laws and regulations. With the MGA licenses, FansUnite will receive full credibility as a trusted betting platform supplier and casino operator in Europe, which will result in the company gaining significant recognition in the online gambling market. The company will also obtain accessibility to new markets as operators registered under EU legislation can utilize FansUnite’s B2B and B2C products, respectively. Other benefits of the MGA licenses include a variety of payment methods that will result in smoother transactions and a corporate-friendly tax system.

Overview of Gaming Licenses Acquired by FansUnite

The Critical Gaming Supply License has been received by Askott Entertainment (Malta) Ltd. This B2B license enables FansUnite to sell its proprietary software to a broad spectrum of licensed sports betting and iGaming operators throughout Europe.

The Gaming Service License has been granted to E.G.G. Limited (Malta). This B2C license allows FansUnite to operate its own brands and game offerings within the EU market. In addition, FansUnite will gain full rights to provide full white label services to partners, eliminating the need for them to undergo the licensing process, software testing procedures, payment processing configurations and banking requirements.

According to the EU Gaming and Betting Association, the EU online gambling market is growing at about 10% per year and the gross gaming revenue of the EU sector is expected to rise to €29.3 billion by 20221.

“The Malta Gaming Authority license is widely considered one of the most prestigious gambling licenses in the industry and receiving it represents a major milestone in our development as a betting and iGaming company,” said Scott Burton, CEO of FansUnite Entertainment. “Having spent years building our technology to a global standard that is desirable by international regulatory bodies, we were able to meet Malta’s extremely stringent and rigorous technical, software, and corporate audits and qualify for two separate licenses. With the approval in hand, we will look to continue executing on our growth strategy, by collaborating with new partners in Europe in order to distribute our sports and esports betting platform along with our RNG casino game titles to an expanded customer base.”

FansUnite will immediately commence extensive business development to promote iGaming and sports betting services to both end customers and online casino and sportsbook operators in Europe.

For Full Release: https://www.newsfilecorp.com/release/69650/FansUnite-Entertainment-Receives-Malta-Gaming-Service-License-and-Critical-Gaming-Supply-License

November 27, 2020 - FansUnite Entertainment Issues Statement Regarding Introduction of Federal Government Bill to Legalize Single-Event Wagering in Canada

FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF) (“FansUnite” or the “Company”) CEO Scott Burton today issued the following statement regarding legislation that was introduced by the Federal Government to legalize single-event sports betting in Canada.

The proposed federal government legislation will give provinces and territories in Canada the discretion to offer single-event sports betting products and manage single-event sports betting either online or in a physical facility in their respective jurisdictions.

“We are pleased that the federal government has decided to introduce legislation to legalize single-event sports wagering in Canada,” said Scott Burton, CEO of FansUnite Entertainment. “This is the first important step to making sports betting competitive in this country, followed by the potential for outside operators to participate in the Canadian market. With our team and global experience in regulated jurisdictions, we are positioned to capitalize on this opportunity if and when it happens.”

For Full Release: https://www.newsfilecorp.com/release/69082/FansUnite-Entertainment-Issues-Statement-Regarding-Introduction-of-Federal-Government-Bill-to-Legalize-SingleEvent-Wagering-in-Canada

November 25, 2020 - FansUnite Entertainment Joins The Canadian Gaming Association

FansUnite Entertainment Inc (CSE: FANS) (OTCQB: FUNFF) (“FansUnite” or the “Company”), a sports and entertainment company, focusing on its technology related to regulated online sports betting and related products, is pleased to announce that it has become an official member of the Canadian Gaming Association (“CGA”), the national trade association of the gaming industry in Canada. The membership became effective on November 24th, 2020.

Members of the Canadian Gaming Association will attain the privilege to foster new relationships with the various entities involved in the gaming industry in Canada that currently collaborate or partner with CGA. In addition, CGA members will receive additional benefits such as advocacy on legislation impacting Canadian gaming companies, access to research that cover important topics related to the gaming sector, networking opportunities and exclusive marketing through CGA’s Canadian Gaming Summit and Canadian Gaming Business magazine, respectively.

“We are delighted to be part of a great organization like the Canadian Gaming Association,” said Scott Burton, CEO of FansUnite Entertainment. “The on-going debates on the repeal of Bill C-218 and the potential for Canadian provinces like Ontario to allow private betting operators may give us the opportunity to participate in our home market. We believe that our sports betting and iGaming platform could form the backbone of many Canadian casino or sportsbook operators that require a robust turnkey solution, which includes KYC procedures, payment methods, marketing platforms, iGaming and online wagering systems. By joining the CGA, we will be able to strengthen our position in the Canadian market to take advantage of any domestic opportunities that come our way.”

“We are pleased to welcome FansUnite as the newest member of the CGA,” commented Paul Burns, President and CEO of the Canadian Gaming Association. “We have followed the team behind FansUnite for a number of years and are excited to see a Canadian played sports betting and iGaming technology company that is poised to take advantage of the anticipated changes to the Canadian Gaming landscape. They have shown that they can operate in highly regulated markets globally and Canada presents a great opportunity for their business here at home. We look forward to assisting their growth in any way we can.”

For Full Release: https://www.newsfilecorp.com/release/68951/FansUnite-Entertainment-Joins-The-Canadian-Gaming-Association

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