---
schema_version: "secwatch.filing_event.v1"
accession: "0001017386-23-000173"
form_type: "8-K"
ticker: null
cik: "0001080319"
company_name: "Elys BMG Group, Inc."
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T12:09:37.936342+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Elys Game Technology raises $1.5M via 12% secured convertible debentures from related party

## Summary
- Closed private placement of 1,500 units at $1,000 each, total $1.5M principal, with Gold Street Capital Corp. (owned by Executive Chairman's spouse).
- 12% annual interest compounded and payable at maturity; debentures mature in 3 years and are secured by all company assets.
- Convertible into 3,138,075 shares at $0.48/share; warrants for same number of shares at $0.48/share expire in 3 years.
- Proceeds used for working capital to launch online channel and mobile app in U.S. and Canadian markets.

## SEC filing metadata
- accession: 0001017386-23-000173
- form_type: 8-K
- cik: 0001080319
- company_name: Elys BMG Group, Inc.
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1080319/000101738623000173/0001017386-23-000173-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1080319/000101738623000173/elys_2023may5-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001017386-23-000173
- JSON: https://secwatch.observer/filing/0001017386-23-000173.json
- Plain text: https://secwatch.observer/filing/0001017386-23-000173.txt

## Key facts
- Debt Financings
  Elys BMG Group, Inc. incurred convertible notes of $1,500,000 with Gold Street Capital Corp. at 12% per annum compounded annually maturing three years from their date of issuance.
  - Instrument: convertible notes
  - Principal: $1,500,000
  - Counterparty: Gold Street Capital Corp.
  - Rate: 12% per annum compounded annually
  - Maturity: three years from their date of issuance
  - Event: incurrence
  source text: channel and mobile app product for U.S. and Canadian markets. The Investor purchased a total of 1,500 units and the Company issued Debentures for the total principal amount of $1,500,000 (the "Principal Amount") to the Investor and warrants to purchase 3,138,075 shares of common stock of the Company. The Debentures mature three years from their date of issuance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1080319/000101738623000173/0001017386-23-000173-index.htm
- Material Agreements
  Elys BMG Group, Inc. entered into Subscription Agreement with Gold Street Capital Corp. valued at $1,500,000 (effective 2023-05-05).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Gold Street Capital Corp.
  - Value: $1,500,000
  - Effective: 2023-05-05
  source text: On May 5, 2023 (the "Closing Date"), Elys Game Technology, Corp. (the "Company") closed a private placement offering of up to 1,500 units and entered into a Subscription Agreement (the "Agreement") with a single accredited investor, Gold Street Capital Corp. (the "Investor"), which is a company owned by Gilda Pia Ciavarella, a related party and spouse of the Company’s Executive Chairman, Michele Ciavarella.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1080319/000101738623000173/0001017386-23-000173-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.