Simplicity Esports Signs Agreement to Convert Promissory Notes Into 5% Common Stock Ownership and Extension to Exchange Agreement With Software Company Diverted River Technology, LLC
Simplicity Esports Signs Agreement to Convert Promissory Notes Into 5% Common Stock Ownership and Extension to Exchange Agreement With Software Company Diverted River Technology, LLC
Roman Franklin, CEO of Simplicity Esports, stated, "I am delighted that we have secured an exchange agreement with our convertible noteholders to swap certain of their notes into 5% equity. I see tremendous potential with the Diverted River business and I think the 5% agreement with noteholders is a testament to their expectation of future value in the company. Diverted River's founders have laid a solid foundation upon which to grow Diverted River into a powerhouse public company servicing the technology needs of the broader $35 billion family entertainment center industry in the U.S. and abroad."The agreement converts over $6.1 million in debt into 5% common stock ownership in the combined companies at closing of the Diverted River Technology, LLC ("Diverted River") exchange agreement.
這個 協議 轉換 結束了 6.1 美元 百萬 在 債務 進入 5% 常見的 股票 所有權 在 合併後的 公司 在 關閉 的 這 已轉移 河流 技術， 有限責任公司 （“已轉移 River”）交換協議。
Boca Raton, Florida, March 31, 2023 (GLOBE NEWSWIRE) -- Simplicity Esports and Gaming Company (OTCQB:WINR) ("Simplicity Esports") entered into an exchange agreement with all of its convertible promissory note holders to convert certain of their notes into common stock that totals 5% of the issued and outstanding shares after the closing of the Diverted River exchange agreement.
佛羅里達州博卡拉頓，2023 年 3 月 31 日（GLOBE NEWSWIRE）— Simplicity Esports and Gaming Company（OTCQB: WINR）（“Simplicity Esports”）與其所有可轉換本票持有人簽訂了交換協議，在Drovered River交換協議結束後，將其某些票據轉換爲普通股，總計佔已發行和流通股票的5％。
Simplicity Esports also entered into an extension of the previously signed exchange agreement with Diverted River. Pursuant to the terms of the exchange agreement, as amended, Simplicity Esports agreed to acquire 100% of the membership interests of Diverted River in exchange for 75% of the issued and outstanding shares of Simplicity Esports' common stock. The parties agreed to close the transaction by July 14, 2023.
Simplicity Esports還延長了先前與Drovert River簽署的交換協議。根據經修訂的交換協議條款，Simplicity Esports同意收購Drovered River100％的會員權益，以換取Simplicity Esports普通股75％的已發行和流通股份。雙方同意在2023年7月14日之前完成交易。
Roman Franklin, CEO of Simplicity Esports, stated, "I am delighted that we have secured an exchange agreement with our convertible noteholders to swap certain of their notes into 5% equity. I see tremendous potential with the Diverted River business and I think the 5% agreement with noteholders is a testament to their expectation of future value in the company. Diverted River's founders have laid a solid foundation upon which to grow Diverted River into a powerhouse public company servicing the technology needs of the broader $35 billion family entertainment center industry in the U.S. and abroad."
Simplicity Esports首席執行官羅曼·富蘭克林表示：“我很高興我們與可轉換票據持有人達成了交換協議，將他們的某些票據轉換爲5％的股權。我看到了Drovered River業務的巨大潛力，我認爲與票據持有人達成的5％的協議證明了他們對公司未來價值的預期。Drovered River的創始人爲將Drovered River發展成爲一家強大的上市公司奠定了堅實的基礎，爲美國和國外更廣泛的350億美元家庭娛樂中心行業的技術需求提供服務。”
Following the closing, it is expected that Simplicity Esports' name will be changed to Diverted River Technology, Inc., and the business of Simplicity Esports will become that of Diverted River, an Entertainment Technology Organization (ETO) focused on a sustainable, high margin, recurring revenue business model that requires limited capital expenditures. It is also expected that Zack Johnson, Diverted River's CEO, will become CEO of the public company following the closing.
收盤後，預計Simplicity Esports的名稱將更名爲Drovered River Technology, Inc.，Simplicity Esports的業務將改爲Drovered River，這是一家專注於可持續、高利潤、經常性收入的商業模式，需要有限的資本支出。另預計DroverRiver的首席執行官扎克·約翰遜將在收盤後出任這家上市公司的首席執行官。
Mr. Johnson, CEO of Diverted River, added, "The noteholders agreeing to exchange over $6.1 million in debt into a 5% stake in our combined businesses is a major step toward closing our exchange agreement with Simplicity Esports. I look forward to working closely with Mr. Franklin and the Simplicity Esports Board of Directors to complete the remaining closing conditions and finalizing our transaction as quickly as possible."
Drovered River首席執行官約翰遜補充說：“票據持有人同意將超過610萬美元的債務兌換成合並後業務5％的股份，這是我們朝着與Simplicity Esports達成交換協議邁出的重要一步。我期待與富蘭克林先生和Simplicity esports董事會密切合作，儘快完成剩餘的交易條件並完成我們的交易。”
The transaction is subject to standard closing conditions, including the repayment of certain debts and achieving a minimum amount of working capital.
該交易受標準成交條件的約束，包括償還某些債務和實現最低營運資金。
About Simplicity Esports and Gaming Company:
關於 簡單電子競技和 賭博 公司：
Simplicity Esports and Gaming Company (WINR) is the franchisor for 12 esports gaming centers that give the public an opportunity to experience gaming and esports in competitive and casual social settings, regardless of skill or experience.
Simplicity Esports and Gaming Company（WINR）是12個電子競技遊戲中心的特許經營商，無論技能或經驗如何，公衆都有機會在競爭和休閒社交環境中體驗遊戲和電子競技。
About Diverted River Technology, LLC:
關於 已轉移 河流科技， 有限責任公司：
Diverted River is an ETO for the location-based entertainment ("LBE") industry. Diverted River provides integration through their proprietary cloud-based user platform called Takoha into a multitude of entertainment, business, data and management systems to help managers and owners of LBEs provide a seamless experience for their customers while compiling all of their customers' data in one analytics system. Diverted River was started by the founders of ggCircuit. ggCircuit was sold to NASDAQ listed Esports Entertainment Group for $26,000,000 in 2021.
Drovered River是基於位置的娛樂（“LBE”）行業的ETO。DroverRiver 通過其名爲Takoha的專有云用戶平臺將其集成到衆多娛樂、商業、數據和管理系統中，以幫助LBE的經理和所有者爲客戶提供無縫體驗，同時將所有客戶的數據彙編到一個分析系統中。Drovered River 由GGCircuit的創始人創立。GGCircuit在2021年以2600萬美元的價格被出售給了納斯達克上市的電子競技娛樂集團。
Forward-Looking Statements:
前瞻性 聲明：
This press release contains statements that constitute "forward-looking statements." Forward-looking statements are subject to numerous conditions, many of which are beyond Simplicity Esports' control, including those set forth in the Risk Factors section of Simplicity Esports' Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on September 27, 2022 and our subsequent SEC filings, as amended or updated from time to time. Copies of Simplicity Esports' filings with the SEC are available on the SEC's website at www.sec.gov. Simplicity Esports undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
本新聞稿包含構成 “前瞻性陳述” 的聲明。前瞻性陳述受許多條件的約束，其中許多條件超出了Simplicity Esports的控制範圍，包括Simplicity Esports於2022年9月27日向美國證券交易委員會（“SEC”）提交的10-K表年度報告中的風險因素部分以及我們隨後向美國證券交易委員會提交的文件，這些文件不時修訂或更新。Simplicity Esports向美國證券交易委員會提交的文件副本可在美國證券交易委員會的網站上查閱 www.sec.gov。除非法律要求，否則在本版本發佈之日之後，Simplicity Esports沒有義務更新這些聲明以進行修訂或更改。
Simplicity Esports Contact:
Roman Franklin
Chief Executive Officer
Roman@SimplicityEsports.com
855-345-9467
簡易電子競技聯繫人：
羅馬富蘭克林
首席執行官
Roman@SimplicityEsports.com
855-345-9467
譯文內容由第三人軟體翻譯。
