Relay Ventures Disposes of Class A Shares of theScore

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TORONTO, Sept. 15, 2021 /CNW/ - Relay Ventures ("Relay") is pleased to announce that it has disposed of an aggregate of 3,271,730 Class A subordinate voting shares ("Class A Shares") of Score Media and Gaming Inc. ("theScore"), a Toronto based publicly traded digital media company.

Relay disposed of the 3,271,730 Class A Shares in multiple trades on September 13, 2021 and September 14, 2021, representing approximately 5.91% of the currently issued and outstanding Class A Shares. Immediately prior to the disposition, Relay owned an aggregate of 6,403,886 Class A Shares representing approximately 11.45% of the then issued and outstanding Class A Shares. The disposition decreases Relay's position in theScore by 3,271,730 Class A Shares (or approximately 5.91% of the issued and outstanding Class A Shares) to 3,132,156, representing approximately 5.6% of the currently issued and outstanding Class A Shares.

The Class A Shares were disposed of in multiple transactions through the facilities of the Toronto Stock Exchange (the "TSX") and the Nasdaq for aggregate proceeds of USD$113,003,134. 830,000 Class A Shares were through the facilities of the TSX sold at a price of USD$34.946 per Class A Share for an aggregate sale price of USD$29,005,180. 2,441,730 Class A Shares were sold through the facilities of the Nasdaq at a price of US$34.401 for an aggregate sale price of USD$83,997,953.70. Following the completion of the disposition, Relay owns 3,132,156 Class A Shares or approximately 5.6% of the presently issued and outstanding Class A Shares. Relay disposed of the Class A Shares as part of Relay's investment strategy for theScore and Relay may acquire further Class A Shares or dispose of its remaining Class A Shares, both as investment conditions warrant.

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 disposition of Class A Shares by Relay will be filed on SEDAR at www.sedar.com in accordance with applicable securities laws. Relay is located at 446 Spadina Road, Suite 303, Toronto, Ontario M5P 3M2. For further information, including a copy of the related early warning report, please contact Jeannette Wiltse at (416) 367-0027. theScore is listed on the Toronto Stock Exchange under the symbol "SCR". theScore's head office is located at 500 King Street West, Fourth Floor, Toronto, Ontario M5V 1L9.

About Relay Ventures

Relay Ventures is an early-stage venture capital fund focused on industries with the potential for growth, fuelled by the rapid adoption of technology.

SOURCE Relay Ventures

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