Mr. Jon Dwyer reports
WONDR GAMING ANNOUNCES CLOSING OF JOYBOX MEDIA ACQUISITION
Wondr Gaming Corp., further to its press releases dated Oct. 22 and Feb. 17, 2022, has completed the previously announced acquisition of all of the issued and outstanding common shares of Joybox Media Inc. As consideration for the transaction, the company issued on closing 3,333,332 common shares in the capital of the company at a deemed price per common share of 15 cents and having a value of $500,000 and a closing cash payment of $131,526 in the aggregate.
All consideration shares issued in connection with the acquisition of JoyBox are subject to a four-month-and-one-day resale restriction and to a 27-month voluntary escrow between the selling shareholders of JoyBox and the company, with the first release of 25 per cent of the escrowed shares to be released 18 months from the closing date.
For further information on the future consideration that may be payable on future milestones of JoyBox, please see the press releases.
"We are very excited to embark on this journey with Wondr Gaming, as we continue to tap into Gen-Z entertainment through gaming, lifestyle, NFTs [non-fungible tokens] and more. JoyBox builds thriving on-line communities through scalable content and along with Wondr's assets -- we see endless opportunities to continue to differentiate ourselves and to build at the forefront of digital media in 2022 and beyond," said Sam Park and Kamar Burke, co-founders of Joybox.
"JoyBox, a Shorty Award-nominated short-form video content studio, has produced campaigns for global brands including Wondr's recent Samsung partnered Call of Duty stream, with NBA All-Star and Wondr director of strategic athlete engagement, Fred Vanvleet. Joybox will provide a new revenue stream for Wondr, while enhancing our in-house production capabilities for the content Wondr curates and hosts across GameLancer's 20-plus owned and operated channels, featuring over one billion monthly views and 26 million-plus followers," said Jon Dwyer, chairman and chief executive officer of Wondr Gaming.
About Wondr Gaming
Wondr Gaming is a publicly traded entertainment company on the Canadian Securities Exchange, builds partnerships and fosters community within the e-sports, professional sports and music industries through loyalty and rewards, NFTs and media business. Wondr Gaming generates revenue through brand partnerships hosted on its loyalty platform, the sale of NFTs focused on e-sports, professional sports and the music industry, and through direct media and programmatic sales hosted on GameLancer's 20-plus owned and operated channels, featuring over one billion monthly views and over 25 million followers.
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