Breaking News: Intema signs definitive share purchase agreement to acquire Livestream Gaming Ltd | Financial Buzz

Breaking News: Intema signs definitive share purchase agreement to acquire Livestream Gaming Ltd

Intema Solutions Inc. (TSX-V: ITM) (OTC: ITMZF) is pleased to announce the signing of a definitive share purchase agreement dated January 27, 2022 with Livestream Gaming Ltd, Belize (“Livestream”) with respect to a proposed transaction (the “Transaction”), whereby Intema will acquire all of the issued and outstanding securities in the capital of Livestream (the “Livestream Securities”). Livestream is a private corporation which owns LOOT.BET, a licensed server-based real-money gaming platform and a top brand in the world of esports betting.

Pursuant to the Transaction, Intema will acquire all of the issued and outstanding Livestream Securities for a consideration of $14,750,000 to the Livestream securities holders on the closing date as follows: (i) $8,000,000 in cash, (ii) $4,000,000 by the issuance of a secured vendor take back note of Intema bearing 12% interest from the date of any default (a first tranche of $2,000,000 maturing on the ninth month following the closing date, and the balance on the eighteenth month following the closing date), and (iii) the issuance of 6,470,588 common shares of Intema.

In addition, Intema will pay Livestream securities holders up to an additional $3,000,000 in cash, subject to the achievement of the following milestones: (i) $1,500,000, if Livestream generates minimum gross gaming revenue of $7,500,000 during the 12-month period following the closing date, and (ii) an additional $1,500,000, if Livestream generates minimum gross gaming revenue of $11,250,000 during the 13- to 24-month period following the closing date.

Intema will also make a minimum capital contribution of $6,000,000 to the operations of Livestream over a period of 2 years following the closing date.

“After months of hard work and negotiations, we are thrilled to have signed this definitive agreement to purchase Livestream, which will allow Intema to become a major player in the esports and iGaming sectors,” said Laurent Benezra, President and Chief Executive Officer of Intema. “LOOT.BET is unequivocally the best online betting platform in the world and, with the help of Intema’s emerging ecosystem and Isle of Man license, it has the potential to grow significantly more. We look forward to the final closing so we can truly begin our journey.”

The Corporation expects the transaction to close on or about February 7, 2022, after receiving final regulatory approval.

About Intema
Intema Solutions Inc. is the world’s emerging leader in the esports and iGaming industry. Our mission is to bring the excitement of esports betting to the entire world through fully licensed, secure online platforms. Our ecosystem consists of subsidiaries in esports, iGaming, product branding, digital advertising and marketing campaign design that are all complementary drivers of our future revenue growth. For more information, please visit our corporate website at intema.ca.

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