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Intema receives TSXV conditional approval to proceed with acquisition of Livestream Gaming

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Intema announces the resumption of trading in its securities

 

Intema Solutions Inc. is pleased to announce that it has received conditional approval (the “Conditional Approval“) from the TSX Venture Exchange for the acquisition (the “Proposed Transaction“) of all of the issued and outstanding securities in the capital of Livestream Gaming Ltd. (“Livestream“). More information about the Proposed Transaction is included in the press release dated May 3, 2021.

“Today marks an important milestone for Intema,” said Laurent Benezra, Intema’s President and Chief Executive Officer. “We understood when we entered into the agreement with Livestream and took the deliberate decision to complete this transaction as a TSXV Issuer that we would need to invest the time and resources to meet their enhanced requirements and fully commit to the process. We have aggressively advanced the Proposed Transaction since, thanks to the attentiveness and solutions-oriented approach of the TSXV, to secure conditional approval of our Proposed Transaction.”

Having received the Conditional Approval, Intema anticipates its common shares will resume trading in the near future.

The completion of the Proposed Transaction remains subject to final approval by the TSXV and fulfillment of TSXV requirements, including among other things: (i) obtaining a gaming license pursuant to the Online Gambling Regulation Act 2001 of the Isle of Man prior to the closing of the acquisition of Livestream, and (ii) filing on SEDAR of a filing statement (the “Filing Statement“), which will include the audited financial statements of Livestream for the year ended December 31, 2020 and the interim unaudited financial statements as at September 30, 2021 with comparatives and pro forma financial statements. Readers are strongly encouraged to review the Filing Statement for full details on the Proposed Transaction.

In connection with the Proposed Transaction, the Corporation intends to change its name to “React Gaming Group Inc.” The name change will be effective at the closing of the Proposed Transaction and is subject to shareholder approval.

Mr. Benezra added, “Alongside the Proposed Transaction, we have been hard at work mapping out our migration under the Isle of Man gaming regime and expansion in new markets to position as a contender in the fast-growing esports gaming space and beyond. Having closed a $10 million non-brokered private placement and working towards a third and final tranche closing, we will be well funded for our near-term plans regarding the LOOT.BET platform as well as other initiatives, all aimed at unlocking value for our shareholders. I would like to thank all our loyal shareholders, old and new, yet again for their continued patience, and we are looking forward to resuming trading shortly.”

Livestream Acquisition

Intema and Livestream continue to progress towards the closing of the Proposed Transaction as previously announced. Its due diligence is completed, the definitive share purchase agreement is being finalized and the Corporation expects to have its Isle of Man gaming license hearing on December 9, 2021.

Livestream is a private corporation which owns LOOT.BET, a Curaçao licensed server-based real-money gaming platform and website, and a top brand in the world of esports betting.

LOOT.BET is one of the global leaders in esports betting, with a focus on live betting, online gaming and supporting 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.

The table below provides a summary of Livestream management prepared current financial information, the re-audit of which is progressing and should be completed in December 2021:

For the year ended
December 31, 2020
(unaudited)
For the year ended
December 31, 2019
(unaudited)
(CA$)* (€) (CA$)* (€)
Total revenue 12,588,975 8,229,042 8,655,450 5,826,097
Operating profit 1,152,316 753,235 334,905 225,429
Net income/(loss) and comprehensive income/(loss) for the period 191,619 125,256 (158,398 ) (106,620 )
Total assets 4,656,474 2,983,389 3,406,902 2,336,215
Total liabilities 5,729,703 3,671,004 4,592,298 3,149,076
Total long-term liabilities
Cash dividends declared

* The profit and loss items use the year-to-date average CA$/€ exchange rates of 1.529823 for 2020 and 1.485634 for 2019; the balance sheet items use the year end spot rate of 1.5608 for 2020 and 1.4583 for 2019.

Canada

Ellipse Entertainment Enters Geolocation Partnership with GeoLocs

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mkodo Limited (mkodo) is proud to announce that it has partnered with United Kingdom-based casino operator Ellipse Entertainment. Ellipse Entertainment has chosen mkodo’s advanced geolocation verification service, GeoLocs, to enhance its iGaming operations in Ontario, Canada.

Ellipse Entertainment has seamlessly integrated GeoLocs’ specialised iGaming geolocation platform into its High Flyer Casino brand. This integration will provide a safe, secure and fraud-free environment for its players across Ontario that meets and exceeds the Alcohol and Gaming Commission of Ontario’s (AGCO) regulations and requirements.

GeoLocs is a leading geolocation verification service, one of the largest in the Ontario region, specialising in North America’s regulated sports betting and iGaming markets. The platform was built specifically to support iGaming operators, ensuring they are operating in licenced jurisdictions and guaranteeing that they are providing responsible gaming to their customers.

Through this partnership, GeoLocs will bring its cutting-edge solution to Ellipse Entertainment’s High Flyer Casino brand, addressing unique challenges faced by iGaming operators through a swift and smooth integration process. Ellipse Entertainment will benefit from GeoLocs’ support in enhancing compliance strategies, optimising revenue opportunities and meeting regulatory standards. Additionally, users will experience a seamless journey, eliminating the need for additional downloads or companion apps.

“We’re thrilled to collaborate with Ellipse Entertainment in Ontario introducing GeoLocs to enhance its iGaming operations,” the Managing Director for mkodo, Stuart Godfree, said. “Our partnership supports Ellipse Entertainment’s High Flyer Casino brand, ensuring a secure and seamless geolocation verification experience for players across Ontario.”

“GeoLocs has been the ideal solution for our geolocation verification needs in Ontario,” the Director for Ellipse Entertainment, Andy McDowall, said. “The platform’s advanced technology and expertise, tailored for iGaming operators, align perfectly with our commitment to responsible gaming. Teaming up with mkodo and its GeoLocs service allows Ellipse Entertainment to provide High Flyer Casino players with a compliant and enjoyable online gaming experience.”

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GGPoker and Great Canadian Casino Bring WSOP Circuit to Toronto

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GGPoker partners with Great Canadian Casino Resort Toronto to bring first-ever WSOP Circuit event to Daniel Negreanu’s hometown

From March 22 through April 1, Great Canadian Casino Resort Toronto will host eight WSOP Circuit events

GGPoker, the world’s biggest poker room, and Great Canadian Entertainment, Canada’s leader in gaming and hospitality, today announced the richest, most prestigious and longest-running poker series, the World Series of Poker (WSOP), is heading to Toronto for its first-ever WSOP Circuit event at Great Canadian Casino Resort Toronto from March 22 to April 1, 2024.

The new series builds on the momentum generated by the record-breaking 54th annual WSOP, which took place this past summer. Featuring eight Circuit ring events in total, the Toronto edition of WSOP boasts a total of $3.9 million in estimated prize pools including a $2,000 main event with a $2.1 million estimated prize pool and $3,500 high-roller event with over $850,000 in estimated prizes.

“We are thrilled to partner with GGPoker to bring the World Series of Poker to the city of Toronto for the very first time,” the General Manager for Great Canadian Casino Resort Toronto, Robert Katsavelos, said. “This is a fitting milestone that will create further momentum for our 30-table poker room that recently opened at Great Canadian Casino Resort Toronto, Canada’s newest and largest casino resort. We are excited to welcome tournament participants from across the North American poker community and from right here in the city of Toronto.”

GGPoker, which sent 774 players to the main event at last summer’s WSOP and 1,000 players to WSOP Paradise, is launching satellites today across Ontario and Canada with buy-ins starting at only $1.

As well as online qualifiers, GGPoker will be represented at Toronto’s first-ever WSOP Circuit event by some of its brand ambassadors including local poker hero Daniel Negreanu.

“I have been playing WSOP events around the world for over 25 years,” GGPoker Global Ambassador Negreanu said. “There is something quite special about being able to finally compete in one in my hometown.”

The full schedule of events will be announced in the coming days. The WSOP reserves the right to cancel, change or modify the tournament or any tournament event, in part or in whole, without notice.

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Push Gaming and NEO.bet roll out Ontario deal

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Push Gaming and NEO.bet roll out Ontario deal

 

B2B gaming supplier Push Gaming has secured fresh regulated expansion in North America thanks to a new partnership live with NEO.bet, providing content for its online casino in Ontario.

Push’s critically acclaimed slots portfolio is now available to players in the burgeoning Canadian province including its high-profile titles. The smash hit of 2023, Razor Returns, now graces the screens of Neo.bet’s players, along with established titles such as Jammin’ Jars, Big Bamboo and Retro Tapes. 

Also featuring in the agreement is the studio’s recent launch Hearts Highway and upcoming launches, Samurai’s Katana and the keenly anticipated sequel to one of Push’s most popular games, Wild Swarm 2.

The partnership marks Push Gaming’s latest commercial activity as it continues to ramp up its 2024 expansion in regulated markets across the globe.

Fiona Hickey, Director of New Business and Markets at Push Gaming, said: “NEO.bet is a fantastic example of a slick, contemporary brand and an exciting new operator, so of course, we’re pleased to see our content feature on its platform.

“We’re proud to boast an equally compelling content library that will suit its players, and with our release schedule for this year, the outlook is extremely positive for slots fans in Ontario.

“We have a busy year ahead of us at Push and we’re hard at work with new deals in regions worldwide to match our expanded content roadmap.”

Simon Erpenbach, Head of Casino at Neo.bet, added: “Push has one of the most vibrant and invigorating range of slots in the market today so we had to make sure they were part of our online offerings. We pride ourselves on providing the very latest in entertainment for our loyal customers and this partnership with Push fits the bill perfectly.”

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