Dusenberry Martin Racing Secures $8,000,000 in Equity Capital

CHARLOTTE, N.C., April 13, 2016 — Dusenberry Martin Racing (DMi, Inc.), a digital games publisher and developer focused on delivering fun and engaging NASCAR-branded games, announced today that it has secured $8,000,000 in additional equity growth capital from a consortium of new investors.

Dusenberry Martin Racing (DMR) was founded in early 2015. DMR holds the exclusive licensing rights to NASCAR simulation style racing titles on interactive entertainment platforms through 2020, intends to pursue and develop a variety of high quality, next-generation video and mobile games across a wide variety of platforms. The new equity investors, which include PlayFast Games, LLC, Leo Capital Holdings LLC, and Gaming Nation Inc. (TSXV:FAN), join current DMR investor HC2 Holdings Inc. (NYSE MKT:HCHC).

Game industry veteran and DMR Chief Executive Officer, Tom Dusenberry commented, “The additional capital and the strategic industry expertise represented by our new equity investors represents the next significant step forward for DMR as we work to bring the highest-quality NASCAR video and mobile games to millions of racing fans around the world.”

The consummation of the PlayFast Games, LLC and Leo Capital investments represents the culmination of DMR’s fundraising effort. Charlotte-based PlayFast Games, LLC is a consortium of distinguished and diverse investors led by founder Paul Brooks. Brooks, with over two decades of motorsports industry experience, is the former President of NASCAR Media Group and was Senior Vice President of NASCAR. He will be joining the DMR Board of Directors in conjunction with this investment.

“I have a deep passion for NASCAR and a direct interest in media-based technology and games,” said Brooks. “These are powerful platforms to attract new fans to the sport and I am thrilled to be joining the DMR team as we build and grow this business.”

PlayFast Games, LLC stakeholders also include NASCAR driver and 2015 Daytona 500 Champion Joey Logano as well as 2012 NASCAR Sprint Cup Series Champion Brad Keselowski, and other industry participants.  

Joey Logano commented, “We have gotten to know the DMR management team well and are extremely impressed with their commitment to developing and launching fun, competitive racing games that will no doubt appeal to new and existing fans alike.  I really enjoy working with the DMR development team to build an authentic and fun game experience for fans.”

Brad Keselowski commented, “I am personally excited to work with the DMR team and am confident in the success of bringing the real world driving experience to the next generation of racing games.”

Leo Capital Holdings, LLC (www.leocapholdings.com) is a privately funded venture investor making investments in early and later stage private companies. Leo Capital’s focus is on consumer oriented technology and applications with large target markets. Leo maintains a broad network of contacts, investors, and advisors with whom we work after investing to help build value, and usually make investments that allow for our active involvement.

As announced in March, Gaming Nation Inc. made a strategic investment in DMR to pursue the sport of NASCAR and explore fast growing DMR opportunities such as VR and eSports. Scott Secord, Gaming Nation’s President and Chief Executive Officer, commented, “Digital games and the digital entertainment fan experience are fast approaching live sports with the advances in gaming technologies. We look forward to partnering with DMR as they leverage Gaming Nation’s access and reach to sports globally through our various platforms.”

The new DMR capital will be used to bring the next-generation NASCAR video game to the market this fall and allow for NASCAR mobile racing game development. DMR sees a high growth future with NASCAR digital games. Highly engaged video and mobile game audiences are ready for next-gen, high-quality NASCAR games, something DMR and its investors are equipped to deliver.

About Dusenberry Martin Racing (DMi, Inc.)

DMi, Inc. (doing business as Dusenberry Martin Racing) is a digital games publisher and developer focused on delivering fun and engaging NASCAR-branded games. The company is dedicated to bringing high quality digital and socially interactive game experiences to the marketplace. DMi launches its first PlayStation 4 and Xbox One game this year. The company is headquartered at NASCAR Plaza in Charlotte, North Carolina. For more information, visit, www.dmracing.org.

About HC2

HC2 Holdings, Inc. is a publicly traded (NYSE MKT:HCHC) diversified holding company, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. HC2 has a diverse array of operating subsidiaries across seven reportable segments, including Manufacturing, Marine Services, Utilities, Telecommunications, Life Sciences, Insurance and Other. HC2’s largest operating subsidiaries include Schuff International, Inc., a leading structural steel fabricator and erector in the United States, and Global Marine Systems Limited, a leading provider of engineering and underwater services on submarine cables. Founded in 1994, HC2 is headquartered in Herndon, Virginia. For More Information on HC2 Holdings, Inc., visit www.hc2.com.

About Gaming Nation Inc.

Gaming Nation Inc. (TSXV:FAN) provides technology and information platforms to the sports and entertainment industry.  The company's platforms include 5050 Central, an electronic real-time raffle system, daily fantasy games through Fantasy Feud and sports information websites Fantasy Guru and Pick Nation. For more information, visit, www.gamingnationinc.com  

Forward-Looking Statements   

Certain statements contained in this announcement constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to the Company’s future outlook and anticipated events or results and, in some cases, can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “target”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions including expected business prospects and opportunities. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what we currently expect. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.