TORONTO, ONTARIO--(Marketwired - May 6, 2013) - Relay Ventures announced the acquisition of an aggregate of 35,937,500 Class A Subordinate Voting Shares ("Class A Shares") in the capital of theScore, Inc. ("theScore") at a price of $0.16 per Class A Share, in connection with the closing on May 3, 2013 of a previously announced non-brokered private placement offering (the "Offering") through two of its limited partnerships: BlackBerry Partners Fund II L.P. (d.b.a. Relay Ventures Fund II) and BlackBerry Partners Parallel Fund II L.P. (collectively, the "Relay Ventures Funds"). The Class A Shares acquired by the Relay Ventures Funds represent approximately 18.4% of the issued and outstanding Class A Shares. Prior to the completion of the Offering, the Relay Ventures Funds did not own any securities of theScore.
The 35,937,500 Class A Shares were acquired for investment purposes. The Relay Ventures Funds have no current intention of acquiring ownership of or control or direction over any additional shares of theScore but reserve the right to acquire additional shares of theScore, to sell all or any portion of their holding of such shares or to enter into derivative or other transactions with respect to the shares of theScore owned by the them.
This press release is being issued as required under the early warning requirements of applicable Canadian securities laws and an early warning report regarding the acquisition of the Class A Shares by the Relay Ventures Funds (the "Early Warning Report") will be filed on SEDAR at www.sedar.com in accordance with applicable securities laws. A copy of the Early Warning Report may be obtained by contacting Jeannette Wiltse of Relay Ventures, 333 Bay Street, Suite 600, Toronto, Ontario M5H 2R2, at (416) 367-0027.
About Relay Ventures
Relay Ventures is an early stage venture capital firm that invests in passionate entrepreneurs disrupting and creating new markets through mobile technologies. Unlike other funds, Relay exclusively focuses on software for mobile devices and the connected Internet, creating an unparalleled set of networks and resources that tangibly help founders build world-class companies. With offices in Menlo Park and Toronto, the firm is active throughout North America. For additional information, visit www.relayventures.com.
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