ITM - Breaking News: Intema signs letter of intent to acquire Parabellum Media Inc.
Intema Solutions Inc. (TSX-V: ITM) (OTC: ITMZF) is thrilled to announce that it has entered into an arm’s length letter of intent dated December 7, 2021, with Amuka Ventures Inc. (DBA Amuka Esports) to acquire all the outstanding shares of Parabellum Media Inc. (“Parabellum”), owner of Parabellum Esports and Northern Shield Academy.
Parabellum Esports was founded in 2020 and is one of Canada’s top esports teams. It is currently fielding rosters in Rainbow Six, Rocket League, CSGO and iRacing, supported by a team of 10 content creators, reaching over 300,000 followers on various social media platforms. Its roster includes both men and women and was one of the first Canadian teams to support competitive women esports. Parabellum is currently sponsored by Zowie, Corsair, Whoosh and CoinSmart, and is the top-selling Canadian esports brand at Sector Six Apparel.
For its part, Northern Shield Academy is a developmental team that works with up-and-coming esports athletes to help them take their game to the next level. Participants in the academy have the opportunity to learn from professional coaches, analysts and scouts to help them reach the next level in their gaming careers.
“We are thrilled to welcome Parabellum to the Intema team, which further strengthens our ecosystem with the addition of its leading esports team, as well as a training academy for the next generation of players,” said Laurent Benezra, President and CEO of Intema. “In its short history, Parabellum has been very successful at promoting its brand and we believe that it will play a fast-growing role in Intema’s success.”
“We are excited to join Intema and become part of their strategy to offer a unique platform combining esports and iGaming,” said Ben Feferman, CEO of Amuka Esports “We have proven in a very short period of time that our business model works, and we are confident that we will be able to accelerate our growth through Intema’s unique ecosystem of companies, targeting specific complementary areas while continuing to build and promote our academy for the next generation of players.”
Summary of the Proposed Transaction
The letter of intent stipulates that the Corporation and Amuka Esports will negotiate and enter into a definitive agreement with respect to the Proposed Transaction (the “ Definitive Agreement “), providing for Intema to acquire all of the issued and outstanding shares of Parabellum for a total consideration of $700,000 (the “ Purchase Price ”), to be paid in common shares of Intema, which shares will be subject to a voluntary escrow on to 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. |
The Proposed Transaction is subject to completion of mutual due diligence, execution of the Definitive Agreement and the approval of the TSX Venture Exchange, and is expected to close in January 2022.
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 .
About Intema
Intema Solutions Inc. is the world’s emerging 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.
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Breaking News: Intema signs letter of intent to acquire Parabellum Media Inc.