FansUnite Entertainment, Inc. (TSE:FANS) has released an update.
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FansUnite Entertainment Inc. is set to sell its Betting Hero business to Hero Group Corp. and GeoComply, with shareholders expected to vote on the US$37.5 million deal, which, after adjustments, promises net proceeds of approximately US$20 million. A substantial portion of these proceeds, 90% after settling obligations, is planned to be distributed to FansUnite shareholders as a return of capital.
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