Fantasy Aces Daily Fantasy Sports Corp. (TSXV:FAS) announced a non-brokered private placement of 449,360 debenture units at a price of CAD 1 per unit for gross proceeds of CAD 449,360 on January 11, 2017. Each unit consists of CAD 1 principal amount of convertible unsecured debentures and two common share purchase warrants. The debentures have a term of 18 months, bear fixed interest at a rate of 12% per annum paid semi-annually in cash and are convertible into common shares of the company at a conversion price of CAD 0.05 of the principal amount outstanding until January 5, 2018 and into one common share for each CAD 0.10 of the principal amount outstanding for the period from January 6, 2018 until July 5, 2018. The debentures were issued at par. Each warrant entitles the holder thereof to purchase one common share of the company at a price of CAD 0.08 per common share until July 5, 2018. Thomas Frisina, Director of the company has subscribed 167,200 debenture units for the gross proceeds of CAD 167,200. The securities issued are subject to a statutory four-month hold period from the date of closing. The transaction is subject to the approval of the TSX-V.