MONTREAL, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Intema Solutions Inc. (“Intema” or the “Corporation”) (TSXV: ITM, OTCMKTS: ITMZF) is pleased to announce that it has entered into a binding letter of intent on January 19, 2021 to acquire (the “Acquisition”) all of the issued and outstanding shares of HypeX.gg Plateforme de Jeux Sociaux Inc. (“HypeX”). HypeX is an Esports platform with 50,000 registered users, specializing in tournament organization, API-based stat aggregation, social function integration and endemic/non-endemic advertising.
“We believe that Esports and iGaming, which have been fast-growing markets in the last few years, could be major vectors of growth, and the acquisition of HypeX is a first step into this diversification of verticals for Intema,” said Laurent Benezra, President and CEO of Intema. “Our strategy is to acquire complementary businesses with strong management teams that will be able to operate autonomously. We will provide them with financial and high-level management support to ensure that we achieve our overall growth objectives. This new vertical would also provide cross-selling opportunities for Intema through our existing digital marketing activities.”
Evan Ryer, President of HypeX, added: “As we continue to grow our user base, our focus continues to be on providing exceptional user experience and engagement to drive growth and build value for all of our stakeholders. We are in a great position to capture new users and expand our portfolio through our proprietary online platform, and look forward to the continued success in 2021. The future is now.”
Terms of letter of intent
To acquire HypeX, Intema will make a cash payment of $75,000 and issue 1,625,000 common shares (each a “Share”) of Intema to the HypeX shareholders. 75% of the Shares will be subject to a voluntary escrow, whereby 25% will become unrestricted six (6) months following the closing (the “Closing”) of the Acquisition; and 50% one (1) year following the Closing.
In order to retain talent, Intema will also allocate a total of 2,500,000 stock options of Intema, to be granted to HypeX’s employees and management in accordance with the term of Intema’s stock option plan, and subject to a vesting period of four (4) years.
As a condition to the Closing, Evan Ryer, HypeX’s President, and David Levy, the company’s CTO, will enter into employment contracts with Intema for a term of three (3) years.
The Acquisition is at arm’s length and is subject to due diligence by Intema, the signing of a definitive agreement and approval by the regulatory authorities, including the TSX Venture Exchange.
On the retail side HypeX.gg is an Esports tournament and social platform. On the commercial side HypeX is a next-gen advertising platform specializing in endemic & non-endemic advertising opportunities. HypeX has refined Esports demand into three major categories of individuals: Athletes, Audience members and Content creators. By designing functionality & incentive to appeal to these three categories, HypeX creates seamless advertising opportunities for retail brands, organizations and companies. Within these engagements HypeX is able to elicit specific consumer behaviours on behalf of the brand, offering a significantly greater ROI on their advertising budget. In addition to having 50,000 users, HypeX has ran tournaments & established partnerships with over 20 different brands & organizations internationally.
Intema has been simplifying and optimizing the online marketing activities of medium and large companies through innovative technologies and cutting-edge expertise for over 20 years. A Canadian leader in permission-based email marketing, Intema provides a wide range of products and services, including SMS, content and predictive AI marketing, as well as related professional services. For more information, please visit our corporate website at intema.com.
This press release may contain “forward-looking statements”. All statements in this press release other than statements of historical facts, including, without limitation, those regarding the financial performance of the Corporation; expected development of the Corporation’s business and projects; execution of the Corporation’s vision and growth strategy; sources and availability of financing for the Corporation’s projects; renewal of the Corporation’s current customer, supplier and other material agreements; and future liquidity, working capital and capital requirements are forward-looking statements. Although the forward-looking statements in this press release are based upon what management of the Corporation believes are reasonable assumptions, there can be no assurance that they will prove to be accurate and that the acquisition will be completed as planned, that the financing will take place as described and that regulatory/TSXV approval will be obtained as actual results and future events could differ materially from those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
|For more information:|
|Intema Solutions Inc.|
|Laurent Benezra||Alain Béland|
|(514) 465-5453||(514) 947-5784|