X1 Esports to Acquire Assets of ShiftRLE to Expand Video Games Portfolio.
MANews-(C)2009-2022
Canada-based video games and media portfolio company X1 Esports and Entertainment (CSE: XONE), has agreed to purchase the assets of Las Vegas-based online news outlet ShiftRLE, focussed on Rocket League, to strengthen X1's position in video game media, the company said.
Pursuant to the agreement, X1 will acquire 100% of the assets comprising ShiftRLE and have the benefit of ongoing services by the key personnel of ShiftRLE for an aggregate price of USD 50,000 cash, of which USD 25,000 is payable at Closing and USD 25,000 payable within 45 days after Closing; 333,333 common shares in the capital of X1 with a deemed issue price of CDN 0.45 (USD 0.35) per common share, distributed to each of the four key personnel, and a 7% share of gross revenues...
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