Prospect Prediction Markets Announces Exercise of All Outstanding Warrants
Rhea-AI Summary
Prospect Prediction Markets (OTCQB: MKTSF) reported that all 7,321,679 warrants issued from June–July 2024 private placements were exercised, generating gross proceeds of $976,055. No warrants remain outstanding. The company plans to use funds for general corporate and working capital needs.
Prospect Markets also changed auditors from SRCO Professional Corporation to CAN Partners LLP and granted 200,000 performance share units to a director, subject to performance vesting and TSX Venture Exchange approval.
Positive
- Full exercise of 7,321,679 warrants, raising gross proceeds of $976,055
- No warrants or broker warrants remain outstanding after the exercise period
- Proceeds earmarked for general corporate and working capital purposes
- Auditor transition to CAN Partners LLP approved by audit committee and board
Negative
- None.
News Market Reaction – MKTSF
In the Jun 30 session, MKTSF gained 12.00%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2026) - Prospect Prediction Markets Inc. (TSXV: MKT) (OTCQB: MKTSF) (FSE: DEP) ("Prospect Markets" or the "Company") is pleased to announce that all 7,321,679 warrants of the Company issued in connection with private placements completed by the Company during June and July 2024 have been duly exercised, resulting in aggregate gross proceeds to the Company of
"We are pleased to report the full exercise of all our outstanding warrants," said Johnny Chen, Founder and Chief Executive Officer of Prospect Markets. "This reflects the continued confidence of our shareholders and meaningfully strengthens our balance sheet as we execute on our strategic roadmap and deliver a platform that redefines how sports fans engage with the games they love."
The Company also announces that at its request, SRCO Professional Corporation has resigned as auditor, effective June 29, 2026, and that CAN Partners LLP has been appointed as successor auditor to hold office until the close of the Company's next annual meeting of shareholders. The change was considered and recommended by the audit committee and approved by the board of directors. There were no reservations or modified opinions in SRCO's audit reports, and there are no reportable events as defined in National Instrument 51-102. The Notice of Change of Auditor and required letters will be filed under the Company's profile on SEDAR+.
The Company also announces that it has granted 200,000 performance share units ("PSUs") to a director under its Omnibus Equity Incentive Plan. The PSUs are granted pursuant to performance-based vesting: subject to achievement of a performance milestone and the grantee's continued service, the PSUs vest on the first anniversary of the date of grant, and are forfeited in full if the performance milestone is not achieved. As the grantee is an insider, the grant is a related party transaction under MI 61-101; the Company relies on the exemptions in Sections 5.5(a) and 5.7(1)(a) as the value does not exceed
About Prospect Markets
Prospect Markets is the prediction market platform built natively for sports. From the world's largest leagues to niche competitions, Prospect turns every sports moment into a tradable market. Fans trade peer-to-peer on outcomes using real-time data from our second-screen experience which transforms passive viewership into active market participation.
On behalf of the Company:
Johnny Chen
Chief Executive Officer
Email: johnny.chen@prospectmarkets.com
Web: www.prospectmarkets.com
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.
Cautionary Note Regarding Forward-Looking Information
This news release may contain certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur, including statements regarding the intended use of proceeds from the warrant exercises, the appointment of CAN Partners LLP as successor auditor, and the vesting of restricted share units granted to a director.
Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information, including, without limitation: changes in market conditions; the Company's ability to execute its business strategy; regulatory developments relating to prediction markets, gaming, and digital assets; competition from established and emerging platforms; market acceptance and user adoption; the availability of financing; technological risks including cybersecurity; TSXV acceptance of equity incentive grants; and other risk factors described in the Company's continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303416