The TSX Venture Exchange has published the final bulletin announcing the transaction’s closure, with the funds and common shares held in escrow released to Intema and Livestream as applicable.
This comes after both companies inked a definitive share purchase agreement in January. Laurent Benezra, President and CEO of Intema, said the company could now “build on the momentum” of Loot.bet, a server-based, real-money esports wagering platform owned by Livestream.
“We can now build on the momentum of our Loot.bet online betting platform to market it to its full potential,” said Benezra.
“With the help of our emerging ecosystem, our Isle of Man licence and our strategy to expand into new markets, Loot.bet has the potential to grow significantly more.”
Concurrent to this, Intema revealed a name change, which will take effect “on or about 11 April,” when the company will cease to be known as Intema and commence trading as React Gaming Group on the TSX Venture Exchange, under the new trading symbol RGG.
Intema said there will be no consolidation or change in the share capital, and that “management considers it important that the name of the corporation be associated with its current activities in esports and iGaming.”
Common share certificates bearing the Intema Solutions name will continue to be valid.
It added: “The corporation is not requesting, and shareholders are not required to, exchange their existing share certificates for new certificates bearing the new company name.”