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Message: Intema files Filing Statement in connection with Livestream Gaming acquisition
- TSX Venture Exchange to issue final exchange bulletin announcing closing of the transaction
- Intema to change name to React Gaming Group Inc. on April 11, 2022, which will trade under stock symbol “RGG”
MONTREAL, April 04, 2022 (GLOBE NEWSWIRE) -- Intema Solutions Inc. (“ Intema ” or the “ Corporation ”) (TSXV: ITM, OTCMKTS: ITMZF) is pleased to announce the filing on SEDAR of the filing statement in connection with the acquisition of Livestream Gaming Ltd (“ Livestream”). The TSX Venture Exchange shall publish today the final exchange bulletin announcing the closing of the transaction (the “ TSXV Bulletin”). With the publication of the TSXV Bulletin, the funds and common shares of the Corporation previously held in escrow shall be released to the Corporation and Livestream, as applicable.
“We can now build on the momentum of our LOOT.BET online betting platform to market it to its full potential. With the help of our emerging ecosystem, our Isle of Man license and our strategy to expand into new markets, LOOT.BET has the potential to grow significantly more,” said Laurent Benezra, President and CEO of Intema.
Name change to React Gaming Group Inc.
Intema Solutions Inc. will change its name to React Gaming Group Inc., effective on or about April 11, 2022 (the " Effective Date "). It is expected that the common shares of the Corporation will commence trading under the new name on the TSX Venture Exchange with the new trading symbol RGG at market open on or about the Effective Date. The Corporation's new CUSIP number will be 75526E106 and the new ISIN will be CA75526E1060. There is no consolidation or change in the share capital. Management considers it important that the name of the Corporation be associated with its current activities in esports and iGaming.
Common share certificates bearing the previous company name Intema Solutions Inc. continue to be valid in the settlement of trades and will only be replaced with certificates bearing the new name upon transfer. The Corporation is not requesting, and shareholders are not required to, exchange their existing share certificates for new certificates bearing the new company name.
Reconciliation of Livestream results with IFRS
In Livestream preparing its IFRS statement of financial position and income statement and other comprehensive income, certain adjustments to amounts previously reported by the Corporation were made. Further to its press release issued on February 18, 2022, the Corporation completed the finalization of the financial statements of Livestream that now show a net loss for 2021 of 416,940 euros as opposed to the previously expected net loss of 173,818 euros (net loss of 279,375 euros for 2020 as opposed to the previously expected net loss of 113,808 euros).
Private placement finders’ fees correction
Further to the numbers contained in the February 18, 2022 press release, Intema has provided an update for the correct aggregate amount of $385,195.30 cash fee and 1,023,921 finders warrants issued to finders in connection with the closing of the private placement. The terms of the finders warrants remain the same.
LOOT.BET is one of the global leaders in esports betting, with a focus on live betting and online gaming and building an exceptional product for its 450,000+ registered users. Supported by a professional operational and software development team of over 50 employees, LOOT.BET is world-renowned not only as an established and reliable esports betting platform but also as a supporter of the esports industry. It is a regular sponsor of notable professional tournaments and teams and a partner of leading esports operators, studios and bright esports talents and influencers. It is also a proud supporter of the anti-corruption esports Integrity Commission, helping the organization combat match-fixing and betting fraud, thereby contributing to the development and maturing of both the esports and the esports betting industries. For more information, please visit LOOT.BET .
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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