This week, Toronto-based entertainment company Wondre Gaming announced that it has signed a final stock purchase agreement with GameLancer Inc. Under the deal, the Canadian company will acquire both issued and outstanding common shares of GameLancer, the fastest-growing gaming platform on TikTok and Snapchat, which have 22 owned and operated channels.
Wondre Gaming is a listed entertainment company on the Canadian stock exchange that builds partnerships in the esports, professional sports and music industries through royalties and rewards, NFTs and media services. The company generates revenue through brand partnerships on its loyalty and reward platforms, as well as sales of NFTs based on sports and e-sports.
According to the terms of the contract, Wonder Gaming has approved the issuance of common stock equivalent to 49% of its issued and unpaid common stock to Wonder’s equity, and also agreed to pay a total of US$12 million in cash to acquire Gamelancer. Stock and cash payments to Gamelancer will be issued proportionally.
The Canadian company also agreed to appoint Gamelancer co-founder Razvan Romanescu to its board of directors, nominate Darren Lopes as Gamelancer’s director at the Toronto company’s next annual meeting, and rebrand it as Gamelancer Gaming Corporation. After the transaction is completed, the company will trade under the symbol “GMNG”.
And Mr. López is appointed Chief Product Officer and Mr. Jack Longo is appointed Chief Creative Officer. If the deal is struck, Mr. Romanescu will hold 90,572,302 shares of Wondre Gaming’s capital, equivalent to 20.9 shares of the company on an undiluted basis.
The two companies also expect the deal to officially close on or around April 1, 2022, with John Dwyer remaining the company’s chairman and chief operating officer, and Mike Cotton also announcing that he will remain president and chief operating officer. Steven Brooks will also continue to serve as chief financial officer.
In the summer of 2021, Wonder Gaming announced that Max Desmaris, a prominent technology and media entrepreneur, would take on the role of chief strategy officer. Mr. Desmaris was recruited to improve the company’s loyalty & compensation, media and NFT business. According to Mr. Cotton, he will play an important role in the company’s growth and revenue strategy.
The eSports industry is growing rapidly on the continent and globally, and the Canadian Game Association is not overlooking it. Last year, CGA announced that it would work with an eSports game provider and developer named Fandom Sports. CGA was eager to allow eSports more freedom just before eSports betting was legalized.
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