Mr. Adam Giddens reports
X1 ANNOUNCES SALE OF SHIFTRLE
X1 Entertainment Group Inc. has entered into an asset
purchase agreement (the APA), pursuant to which the company has sold, as of immediate
effect, all assets related to ShiftRLE. ShiftRLE is an on-line rocket league
community, which has incorporated the assets of previously acquired Octane.gg, to form an
updated user experience on shiftrle.gg. The purchasers are the prior owners of ShiftRLE, and
the primary service providers to the company in respect of the operations of ShiftRLE. In
connection with the transaction, the purchasers have satisfied the purchase price by forgoing
any rights to termination payments or otherwise in connection with their consulting agreements
with X1, for an aggregate value to the company of $35,250 (U.S.).
Entertainment Group Inc.
X1 Entertainment Group is a portfolio company targeting assets across the gaming,
e-sports, media and entertainment industries, and currently holding X1 Talent, a boutique talent
management group for digital content creators. Based in Vancouver, B.C., the company is
publicly traded on the Canadian Securities Exchange under the ticker symbol (CSE: XONE).
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