Intema secures TSXV approval for Loot.Bet acquisition

| By Robert Fletcher
Esports provider Intema Solutions has secured conditional approval from the Toronto Stock Exchange Venture Exchange (TSXV) to proceed with its proposed acquisition of Livestream Gaming, owner of esports betting platform Loot.Bet.
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Intema in May signed a letter of intent to purchase Livestream for $14.75m, split $8.0m in cash, $4.0m issued by a secure vendor and $2.75m in a share issue floated on the TSXV.

A further $3m will be paid if Livestream hits certain revenue targets after the closing date, consisting of $7.5m worth of revenue in the first 12 months and $11.25m after 24 months.

The agreement was subject to a series of requirements in order to progress further, which, in addition to TSXV approval, also included securing a gaming license in the Isle of Man and filing a statement with Canada’s System for Electronic Document Analysis and Retrieval (SEDAR).

Read the full story on iGB North America.

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