Darelle Provides Operational Update and Announces Private Placement

Darelle.com is a platform in which nonprofit organizations can create, sell, deliver and manage their raffle ticket and 50/50 draws completely online.

Darelle Online Solutions Inc. (TSX:DAR)

VANCOUVER, BC, CANADA, November 14, 2016 /EINPresswire.com/ — Vancouver, B.C. – November 14, 2016 – Darelle Online Solutions Inc. (“Darelle” and/or the “Company”) (TSXV:“DAR”) today provided an operational update on its wholly owned subsidiary, Darelle Media Inc. (“Darelle”).

On April 14, 2016, the Company announced it had launched an online raffle lottery program which enables charitable and nonprofit organizations to create, sell, deliver and manage their raffle ticket and 50/50 draws completely online.

Since the April launch the Company has launched and completed the following online raffles.

• BC Lions Society for Children with Disabilities
• Vancouver Firefighter’s Charity Society
• Tapestry Foundation for Healthcare
• AIDS Vancouver Society

The Company has also launched online raffles with the following organizations.

• Crisis Intervention & Prevention Centre of BC
• Cystic Fibrosis Canada – British Columbia Association
• Wild Sheep Society of BC
• Powell River Kings Hockey Society

RNG and White Label Program

The Company has completed the development of its random number generator (“RNG”) and will be engaging Gaming Laboratories Inc. (“GLI”) to do the independent testing required for future certification in multiple jurisdictions. GLI is a leading testing and certification service in the gaming industry. The use of the RNG will allow organizations to choose winners using a computer without the need to print counterfoils and place them into a draw barrel. The option to us the RNG further simplifies the raffle management process and allows for ticket sales to continue up to minutes before the draw time.

The company is also currently focused on expanding its’ white label program to allow for seamless and integrated use of the Darelle software platform into the websites of the licensee organization.

Private Placement

The Company announced its intent to complete a non-brokered private placement (“Placement”) of up to 10,000,000 units (the “Units”) of the Company at a price of $0.05 per Unit, for proceeds of $500,000. Each Unit is comprised of one common share in the capital of the Company (a “Share”) and one Share purchase warrant of the Company (a “Warrant”). Each Warrant will entitle the holder to purchase an additional Share in the capital of the Company (a “Warrant Share”) for a period of 36 months from the closing date at an exercise price of $0.075 per Warrant Share. Completion of the Placement is subject to approval of the TSX Venture Exchange.

The Company will host a webinar presentation on Thursday November 17 at 6:00 pm Pacific Standard Time. To register for the webinar please forward your contact details to webinar@darelle.com

About Darelle Online Solutions Inc.

Darelle Online Solutions Inc. is a British Columbia corporation with its head office in Vancouver, British Columbia. Darelle.com is an online marketplace which has developed a platform in which charitable and nonprofit organizations can create, sell, deliver and manage their raffle ticket and 50/50 draws completely online. The Company is listed on the TSX Venture Exchange as a Tier 2 Technology Issuer. The Company has a total of 66,838,147 common shares issued and outstanding.

Additional information on the company can be found at www.darelle.com

For Further Information, Contact:

Dean Bethune, President & CEO Darelle Online Solutions Inc.
Phone (778) 840-3325 Email: dbethune@darelle.com
Kyle Kotapski, President Darelle Media Inc.
Phone (604) 345-0868 Email: kkotapski@darelle.com

Certain statements in this release are forward-looking statements, including with respect to the Company’s proposed use of proceeds raised from the above-described Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. In particular, there may be circumstances where for sound business reasons, a reallocation of funds may be necessary. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.

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 release.

Dean Bethune
Darelle Online Solutions Inc.
email us here

Source: PR