TORONTO, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Rivalry Corp. (the "Company" or "Rivalry") (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, today announced details of its planned release of second quarter 2024 financial results.

The Company expects to file its Q2 2024 results the morning of Thursday, August 29, 2024 prior to the commencement of trading on the TSX Venture Exchange. Management plans to host an investor conference call that same day at 10:00 am EDT to discuss the results.

Company Announces CFO Change

Rivalry has also announced that Demi Abidogun-Benson will assume the role of Interim Chief Financial Officer effective August 16, 2024, replacing Kejda Qorri in the role.

Demi is a financial leader with over a decade of experience in corporate reporting, auditing, and strategic planning. Prior to joining Rivalry in February 2022, Demi was the Director of Finance at Swash Digital and spent more than ten years with Deloitte Canada working across the UK, Southeast Europe, and Canada.

"Kejda has been an integral member of our team since day one, leading the charge on our financial management strategy, public listing, and many other key initiatives across the Company," said Steven Salz, Rivalry Co-founder and CEO. "We deeply respect her decision to transition out of her role in order to spend time with family, and on behalf of the entire team, we wish Kejda all the best in her future endeavors. I'm also very excited to have Demi, a long-standing and key member of our finance team, step in as Interim CFO where I'm confident she will succeed."

"It has been a pleasure to serve as Rivalry's CFO and work alongside one of the most talented teams in the gambling industry," said Kejda Qorri. "I have a tremendous amount of confidence in the brand, its leadership team, and look forward to watching them grow. I also want to congratulate Demi who will be stepping in as Interim CFO. Demi is a natural leader with a deep understanding of Rivalry's business, and I'm positive she will continue her track record of achievement in this new role."

About Rivalry
Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the next generation of players. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions. Rivalry also holds an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. Rivalry's sportsbook is built on a proprietary tech stack and features a variety of originally developed products geared for Millennial and Gen Z fans including Same Game Combos, an esports parlay product, original casino games, and an interactive casino platform, Casino.exe.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Company Contact:
Steven Salz, Co-founder & CEO
ss@rivalry.com
416-565-4713

Investor Contact:
Oakstrom Advisors
Jeff Codispodi
investors@rivalry.com

Media Contact:
Cody Luongo, PR & Communications
cody@rivalry.com
203-947-1936

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions.

Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company's annual information form for the year ended December 31, 2022 and other disclosure documents available on the Company's SEDAR+ profile at .

No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Source: Rivalry Corp.