theScore Closes $26.5 million Bought Deal Financing

- Underwriters fully exercise over-allotment of 5.16 million units

TORONTO, March 5, 2015 /PRNewswire/ - theScore, Inc. (TSX Venture: SCR) ("theScore" or the "Company") is pleased to announce that it has closed its previously announced short-form prospectus bought deal offering (the "Offering"). The underwriters purchased 39,560,000 units ("Units") at a price of $0.67 per Unit for gross proceeds of $26,505,200, which included the full exercise of the over-allotment option of 5,160,000 Units. Each unit consists of one Class A Share and one half of one Class A Share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one Class A Share at an exercise price of $1.00 at any time up to 36 months following the closing. The Company has received conditional approval from the TSX Venture Exchange (the "TSXV") to list the Class A Shares and Warrants on the TSXV. The warrants will trade under the symbol SCR.WT.

John Levy Family Holdings Ltd., Relay Ventures Fund II L.P. and Relay Ventures Parallel Fund II L.P. also participated in the Offering.

The net proceeds from the Offering will be used to support the ongoing development of the Company's mobile sports apps and the expansion of sales and marketing efforts and for general corporate and working capital purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from such registration requirements is available.

About theScore Inc.

theScore, Inc. is an independent creator of mobile-first sports experiences, connecting fans to what they love through an addictive combination of comprehensive and personalized real-time news, scores, stats, alerts and daily fantasy sports contests via its mobile sports platforms 'theScore,' 'theScore eSports,' 'ScoreMobileFC' and  'Swoopt.'

Forward-looking (safe harbour) statement

Statements made in this news release that relate to future plans, events or performances are forward-looking statements.  Any statement containing words such as "may", "would", "could", "will",  "believes", "plans", "anticipates", "estimates", "expects" or "intends" and other similar statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Such statements reflect theScore's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including among other things, those which are discussed under the heading "Risk Factors" in the Company's Annual Information Form and Short-form Prospectus as filed with the TSX Venture Exchange and available on SEDAR at www.sedar.com and elsewhere in documents that theScore files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as required by applicable law or regulatory requirements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE theScore, Inc.

Related Links

http://www.thescore.com/