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Press release from PR Newswire

theScore, Inc. Announces $16M Private Placement Financing

Tuesday, April 23, 2013

theScore, Inc. Announces $16M Private Placement Financing

16:01 EDT Tuesday, April 23, 2013

TORONTO, April 23, 2013 /PRNewswire/ - theScore, Inc. (TSX Venture: SCR) ("theScore" or the "Company") today announced it has entered into subscription agreements in connection with a $16 million non-brokered private placement of 100,000,000 Class A Subordinate Voting Shares at a price of $0.16. The financing round will allow the Company to accelerate the development and marketing of its mobile sports platforms while further expanding its advertising sales and marketing capabilities in the United States.

Photo: http://photos.prnewswire.com/prnh/20130423/TO327

Relay Ventures, a venture capital fund based in Toronto and Silicon Valley and focused exclusively on the mobile space, is leading the private placement. Existing shareholders, including Levfam Holdings Ltd. and Rogers Media Inc., also participated in the financing.

theScore's mobile sports platforms have achieved significant growth since September 2009, growing from 600,000 monthly users to more than 4.2 million in January 2013. Available across all major mobile platforms, its flagship applications offer real-time sports news, scores, fantasy information and alerts, alongside compelling and relevant content.

John Levy, Chairman and CEO of theScore, Inc. said: "This gives theScore significant financial resources to accelerate the growth and development of our great mobile sports platforms. It also affords us an increased runway to turbocharge the momentum we've been building, strengthen our sales and marketing teams and further capitalize on the industry-wide explosion in mobile ad spending."

Following the closing of the private placement, Relay Ventures' Co-Founder and Managing Partner John Albright will join theScore's Board of Directors.

Mr. Albright said: "More than four million sports fans around the world are using theScore's mobile platforms to dynamically connect with their favourite sports, leagues, teams and players. It's created by a company that is led by serial entrepreneurs who have a successful track record and are now primed to capitalize further on the explosion in mobile ad spending. We are thrilled to invest in them."

There are no bonuses, finder's fees, commissions or other compensation to be paid in connection with the private placement. The Class A Shares issued upon completion of the private placement will be subject to a hold period under applicable securities laws. The private placement is expected to close on or about May 3, 2013. The closing is subject to certain customary closing conditions and remains subject to the approval of the TSX Venture Exchange.

Canaccord Genuity Corp. provided theScore with strategic financial advice in connection with the private placement.

Stay connected to theScore!

http://thescore.com/ https://www.facebook.com/theScore https://twitter.com/thescore http://www.youtube.com/thescore http://www.linkedin.com/company/thescore-inc-?trk=hb_tab_compy_id_2812971

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

No securities regulatory authority has either approved or disapproved the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

About theScore Inc. theScore's mission is to provide a full digital service to sports fans, delivering a personalized user experience across all major mobile platforms through our mobile apps and website. Users are provided with a comprehensive, customizable service that dispenses real-time sports news, scores, fantasy information and alerts, alongside compelling, relevant content that allows for seamless social sharing by users. theScore also enables advertisers to engage with users across theScore's mobile and web platforms and offers them a combination of reach, relevance, and customizable advertising and sponsorship products.

Forward-looking (safe harbour) statement Statements made in this news release that relate to future plans, events or performances are forward-looking statements, including statements related to the use of proceeds from the private placement, the acceleration of growth and development of mobile sports platforms, strengthening sales and marketing teams and capitalizing on opportunities and the timing of closing of the private placement. Any statement containing words such as "may", "would", "could", "will",  "believes", "plans", "anticipates", "estimates", "expects" or "intends" and other similar statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Such statements reflect theScore's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including among other things, those which are discussed under the heading "Risk Factors" in the Company's Listing Application as filed with the TSX Venture Exchange and available on SEDAR at www.sedar.com and elsewhere in documents that theScore files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as required by applicable law or regulatory requirements.

SOURCE theScore, Inc.

For further information: <p> </p> <p> James Bigg<br/> Manager, Communications<br/> theScore, Inc.<br/> Tel: 416.479.8812<br/> Cell: 647.638.9281<br/> Email: <a href="mailto:james.bigg@thescore.com">james.bigg@thescore.com</a> </p> <p> Tom Hearne<br/> Chief Financial Officer<br/> theScore, Inc.<br/> Tel: 416-560-0528<br/> Email: <a href="mailto:tom.hearne@thescore.com">tom.hearne@thescore.com</a> </p>

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