Supplier of predictive marketing, behavioral email campaigns and custom integrations Intema Solutions announced today it received conditional approval from the Toronto Stock Exchange (TSX) Venture Exchange for the acquisition of Livestream Gaming.
Following the letter of intent signed between Intema Solutions and Livestream Gaming in May, both companies continue to progress towards the closing of the proposed transaction under the terms of which Intema is buying of all the issued and outstanding securities in the capital of Livestream, the owner of the licensed in Curaçao server-based real-money gaming platform and a top esports betting brand LOOT.BET.
With over 450,000 registered users, LOOT.BET is among the top esports betting operators globally, providing live betting and online gaming, supported by a team of operations experts and software developers.
Renowned as a supporter of the esports industry, the brand is a regular sponsor of professional tournaments and teams, as well as a partner of esports operators, studios and influencers. LOOT.BET is a proud supporter of the Esports Integrity Commission and its efforts to combat match-fixing and betting fraud.
Commenting on the announcement, Intema President and CEO Laurent Benezra hailed the “important milestone” for the company, pointing to the awareness since the moment Intema signed the agreement and decided to complete the transaction according to the “enhanced requirements” of the TSXV that “time and resources” would need to be invested and full commitment to the process is needed.
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.”Laurent Benezra, President and CEO, Intema Solutions
Transaction Progressing Towards Close
Intema said Livestream’s due diligence is already complete and both firms are putting together the final pieces of the definitive share purchase agreement, waiting for Intema’s December 9, 2021, Isle of Man gaming license hearing.
Besides obtaining a gaming license pursuant to the Online Gambling Regulation Act 2001 of the Isle of Man prior to closing the transaction, the acquisition is still pending other TSXV requirements and final approval from the exchange.
Subject to shareholder approval, Intema Solutions is going to rebrand to React Gaming Group upon closing of the Livestream transaction, Intema CEO Benezra noted, providing details related to the financing of the company’s expansion in new markets.
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.”Laurent Benezra, President and CEO, Intema Solutions
In September, Intema announced the closing of a previously announced acquisition of Canadian esports organization Team Bloodhounds to affirm its position in Canadian esports.