GMETF - GameOn signs letter of intent to acquire FanClash swings big at B2B fantasy

GameOn Entertainment Technologies (OTCQB:GMETF) has signed a letter of intent to acquire real-time fantasy technology, FanClash, from London-based Inplay Labs. The move signals GameOn's entry into the $18.6B fantasy sports and entertainment market, expected to reach $48.6B by 2027. GameOn will pay a purchase price of C$0.5M, with C$0.2M payable in cash and C$0.3M payable in shares issuable at closing. In addition, GameOn will grant InPlay an earn-out pursuant to which GameOn shall issue up to an additional C$0.5M in shares subject to the achievement of certain milestones and escrow pursuant to applicable laws. "This acquisition fits squarely within our mission to further fan engagement for our global B2B partners in sports, TV and live events," said GameOn CEO Matt Bailey.

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GameOn signs letter of intent to acquire FanClash, swings big at B2B fantasy