Nordic Group

Aug 26, 2021

By Lewis - 26 August 2021 Online marketing and operating company, B90 Holdings, has signed an affiliate marketing agreement with Nordic Group for Latin America and the Nordic markets, to promote its sports book and online casino services in various territories. The affiliate deal covers all current and future Bet90 brands and subsidiaries and Nordic will commence promotional activities immediately. B90 will pay Nordic an initial Affiliate Fee amounting to €150,000, which will be settled in new Ordinary Shares on November 30, 2021. Issue of the new Ordinary Shares is conditional on Nordic generating a minimum of €75,000 in new revenue for the company by November 30 2021, with the option to amend the agreement and the number of new Ordinary Shares to be issued if the minimum criteria is not met. Thereafter, the agreement reverts to a typical affiliate deal with payment based on the amount of traffic and new customer revenue generated from Nordic’s network. Further share based payments will become due on 28 February 2022, 31 May 2022 and 31 August 2022 (“payment dates”), converting the actual affiliate fee earned in excess of the first €150,000 into shares based on the average closing mid-market price of B90’s Ordinary Shares over the five dealing days leading up to each of the payment dates. The maximum amount that can be converted into equity is capped at €400,000, with any amount in excess to be settled in cash. Paul Duffen, executive Chairman at B90 said: “As previously stated our strategy is to build our brand, customer and ultimately revenue base into new geographies, using a mix of both affiliates and direct marketing. Nordic is a great affiliate partner for us in these territories, given it has an excellent established network. The agreement has been structured to mitigate risk and preserve initial cash outlay, whilst maximising potential future cash generation for the Company and incentivise the affiliate. We look forward to working with Nordic across our on-line real estate to enter into new and profitable markets.” Håvard Lehn, CMO of Nordic Group added: “By partnering with Bet90 we are following our business development strategy. We know that our traffic will be a perfect match for this partner and the incentives to send traffic are there for us to prioritise their brands. We are enthusiastic to become shareholders in B90 Holdings plc.” Please share!