This week, Toronto-based entertainment company Wondr Gaming announced that it has reached a definitive stock purchase agreement with Gamelancer Inc. Through this agreement, the Canadian company will acquire all of the issued and outstanding common shares of Gamelancer, which is the fastest-growing gaming platform on TikTok and Snapchat with 22 owned and operated channels.
Wondr Gaming is a publicly-traded entertainment firm on the Canadian Securities Exchange, which creates partnerships in the eSports, professional sports, and music industries, via its loyalty & rewards, NFTs, and media services. The company creates its income by brand partnerships on its loyalty & rewards platform, as well as the sales of NFTs which are based on sports and eSports.
The Agreement
According to the details of the agreement, Wondr Gaming has approved to issue common shares in the capital of Wondr also known as Consideration shares, which is equal to 49% of the issued and outstanding common shares of the company. Additionally, it has agreed to pay in the aggregate US$12,000,000 in cash to acquire Gamelancer. Consideration Shares and Cash Payments will be issued to Gamelancer on a pro-rata basis.
Also, the Canadian firm has agreed to appoint Gamelancer’s co-founder, Razvan Romanescu to its Board of Directors. As well as nominating Darren Lopes as a nominee Director of Gamelancer at the next annual meeting of the Toronto company and to rebrand to Gamelancer Gaming Corporation. After the transaction is completed, that company will trade under the symbol “GMNG”.
Then, Mr. Lopes will be appointed as Chief Product Officer, while Zak Longo, will assume the position of Chief Creative Officer. Once the completion of the transaction is a fact, Mr. Romanescu will possess 90,572,302 common shares in the capital of Wondr Gaming, which is equal to 20.9 of the company on a non-diluted basis.
The two companies have also shared that they expect that the transaction will be officially closed on or around April 1, 2022. They have also informed that Jon Dwyer will remain at the position of Chairman and Chief Executive Officer of the company, while Mike Cotton will also keep his position of President and Chief Operating Officer. Also, Stephen Brooks will continue as Chief Financial Officer.
Back in the summer of 2021, Wondr Gaming announced that prominent technology and media entrepreneur Max Desmarais will be taking over the company’s role of Chief Strategy Officer. Mr. Desmarais was brought in to help improve the firm’s Loyalty & Rewards, Media, and NFT business. According to Mr. Cotton, he will prove crucial for the company’s growth and revenue strategies.
CGA’s Acknowledgement
The eSports industry is a rapidly growing one on the continent and worldwide, and the Canadian Gaming Association has not overlooked it. Last year, the CGA announced that it will be collaborating with leading eSports gaming provider and developer named Fandom Sports. The company was eager to join the country just before the legalization of single-game betting, which would also allow greater freedom to eSports wagers.
Source: “Wondr Gaming to acquire 100% interest in Gamelancer, the largest global GenZ social media network in gaming. Wondr to rebrand as Gamelancer Gaming Corp. under CSE ticker: GMNG”, Wondr Gaming, March 21, 2022
