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Message: Intema closes Parabellum Media acquisition
- This acquisition will strengthen Intema's esports operations with the addition of the Parabellum Esports professional team, a two-time champion on the NACL circuit, including a top-12 global finish at the 2021 Rainbow Six Invitational.
- Intema is also building training capabilities for future esports players with the Northern Shield Academy.
- Parabellum Media has competitive rosters in Rainbow Six, Rocket League, CSGO and iRacing, supported by a team of 10 content creators, with social media reach of over 300,000 followers.
MONTREAL, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Intema Solutions Inc. (“ Intema ” or the “ Corporation ”) (ITM: TSXV), (ITMZF: OTCMKTS) is pleased to announce that it has closed the agreement announced on December 8, 2021with Amuka Ventures Inc. (doing business as Amuka Esports) to acquire all of the outstanding shares of Parabellum Media Inc. (“ Parabellum ”), owner of Parabellum Esports and Northern Shield Academy.
In consideration, the Corporation will issue up to 1,845,000 common shares (each a “Share ”) of the Corporation at a deemed price of $0.306 per Share, of which 1,700,000 have been issued, and a balance of up to 145,000 will be issued upon completion of the closing financial statements review. The Shares issued will be subject to voluntary resale restrictions on the following terms:
|(i)||25% of the shares will be subject to a resale restriction of four months and one day from the closing date;|
|(ii)||An additional 25% of the shares will be subject to a resale restriction of 12 months from the closing date;|
|(iii)||An additional 25% of the shares will be subject to a resale restriction of 18 months from the closing date; and|
|(iv)||The remaining 25% of the shares will be subject to a resale restriction of 24 months from the closing date.|
“We wish to extend a warm welcome to the Parabellum Esports professional team,” said Laurent Benezra, President and CEO of Intema. “The addition of this talented team to Intema fits perfectly with our growth strategy and the ecosystem we are building in esports and iGaming. Parabellum Esports had a great 2021 having earned over US$100,000 in prize money over the course of the year, thanks to two North American Challenger League Stage wins and a top 12 finish at the 2021 Six Invitational in Paris. These performances have earned the team a spot in the Rainbow Six North American Pro League, which will provide future opportunities for years to come, while contributing to Intema's future success.”
About Parabellum Esports
Founded in 2020, Parabellum is a Canadian Professional Esports Organization from Toronto and is competing in titles such as Rainbow 6, Rocket League, Super Smash Bros Ultimate, CSGO, iRacing and more. We also have a full content team with content creators and streamers from all over North America. Parabellum also runs Northern Shield Academy, which gives amateur players coaching, mentorships and paths to move their esports career forward. For more information, visit www.parabellumesports.com .
Intema Solutions Inc. is the emerging world 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 .
President and CEO
This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical facts, included in this press release, including, without limitation, those regarding the Private Placement; the expected development of the Corporation’s business and projects; execution of the Corporation’s vision and growth strategy; sources and availability of financing for the Corporation’s projects; and future liquidity, working capital, and capital requirements, are forward-looking statements. Although the forward-looking statements in this press release are based upon what management of the Corporation believes are reasonable assumptions, they are inherently subject to significant business, economic and competitive uncertainties, and contingencies, and there can be no assurance that they will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-Looking statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this press release relate to, among other things, statements relating to the terms of the Private Placement and the terms of the Proposed Transaction; Intema’s future outlook and anticipated events or results; and the completion of the Private Placement and the Proposed Transaction. Actual future results may differ materially. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Corporation’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Corporation’s control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Private Placement and the Proposed Transaction, including: that the Corporation’s assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and gaming; the inability to obtain, or maintain, gaming license(s); and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Corporation, including its results and financial condition. Except as required by securities law, the Corporation does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. The Corporation undertakes no obligation to update forward-looking statements except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
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