GameSquare Esports Provides Update on Proposed Acquisition of Reciprocity - Seite 2
The Transaction is an arm’s length transaction for the purposes of the policies of the CSE and is being structured as a plan of arrangement. GameSquare is not paying any finder’s fees in connection with the Transaction. Following Closing, the Company will prepare and make publicly available a business acquisition report (as that term is defined in National Instrument 51-102 – Continuous Disclosure Obligation (“NI 51-102”)) for the Transaction in accordance with the timelines set out in NI 51-102.
Narrative Description of Business of Reciprocity
Reciprocity is a Toronto-based global professional esports and entertainment company. Reciprocity is committed to creating cutting-edge content, investing in player development and building a generation of viewers and enthusiasts globally. Reciprocity's mission is to be one of the largest global professional esports team franchises and provide a global digital platform for both endemic and non-endemic sponsors. Reciprocity has the following subsidiaries, each of which is wholly-owned unless otherwise noted:
- GCN Inc. (“GCN”) (Nevada)
- Biblos Gaming, S.A. de C.V. (“Rainbow 7”) (Mexico - 40% ownership interest)
- Hangzhou Liang Culture Creation Limited Company (“LGD Gaming”) (China – 49% ownership interest)
- Hangzhou Yunzizunge Technology Service Company (China)
Digital Media & Marketing Group – Gaming Community Network
GCN, a wholly-owned subsidiary of Reciprocity, offers bespoke multi-platform marketing solutions that enable brands to connect with the gaming and esports communities. GCN is building an aggregated large-scale network of gaming and esports media properties and content partners including websites, influencers, streaming platforms, professional esports teams, and tournament/event organizers. GCN's goal is to build an aggregated large-scale network to provide advertisers and sponsors the proper scale they require, since individual assets often do not have the critical mass on their own or relationships to be properly monetized.
In addition, GCN owns live streaming proprietary ad technology which enables it to serve live-streaming branded content across any digital platform. The technology could also be used in other industries like music, entertainment and sports.
GCN is run by two industry veterans – Jeff Griffith, former Head of U.S. Sales at Curse Media, owned by Amazon/Twitch; and Ceo Wimmer, former SVP Global Marketing Partnerships for UFC and VP Network Advertising Sales for Fox Sports. GCN partners with over seventy-five (75) gaming & esports community websites, pro teams and major esports organizations.