secwatch.observer — SEC 8-K summary
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Issuer:     Elys BMG Group, Inc. (—)
CIK:        0001080319
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001017386-23-000173
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080319/000101738623000173/0001017386-23-000173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080319/000101738623000173/elys_2023may5-8k.htm
  HTML page:      https://secwatch.observer/filing/0001017386-23-000173

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer