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.
这个 协议 转换 结束了 6.1 美元 百万 在 债务 进入 5% 常见的 股票 所有权 在 合并后的 公司 在 关闭 的 这 已转移 河流 技术， 有限责任公司 （“已转移 River”）交换协议。
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.
佛罗里达州博卡拉顿，2023 年 3 月 31 日（GLOBE NEWSWIRE）— Simplicity Esports and Gaming Company（OTCQB: WINR）（“Simplicity Esports”）与其所有可转换本票持有人签订了交换协议，在Drovered River交换协议结束后，将其某些票据转换为普通股，总计占已发行和流通股票的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还延长了先前与Drovert River签署的交换协议。根据经修订的交换协议条款，Simplicity Esports同意收购Drovered River100％的会员权益，以换取Simplicity Esports普通股75％的已发行和流通股份。双方同意在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首席执行官罗曼·富兰克林表示：“我很高兴我们与可转换票据持有人达成了交换协议，将他们的某些票据转换为5％的股权。我看到了Diverded River业务的巨大潜力，我认为与票据持有人达成的5％的协议证明了他们对公司未来价值的期望。Drovered River的创始人为将Drovered River发展成为一家强大的上市公司奠定了坚实的基础，为美国和国外更广泛的350亿美元家庭娱乐中心行业的技术需求提供服务。”
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.
收盘后，预计Simplicity Esports的名称将更名为Drovered River Technology, Inc.，Simplicity Esports的业务将改为Drovered River，这是一家专注于可持续、高利润、经常性收入的商业模式，需要有限的资本支出。另预计DroverRiver的首席执行官扎克·约翰逊将在收盘后出任这家上市公司的首席执行官。
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首席执行官约翰逊补充说：“票据持有人同意将超过610万美元的债务兑换成合并后业务5％的股份，这是我们朝着与Simplicity Esports达成交换协议迈出的重要一步。我期待与富兰克林先生和Simplicity esports董事会密切合作，尽快完成剩余的交易条件并完成我们的交易。”
The transaction is subject to standard closing conditions, including the repayment of certain debts and achieving a minimum amount of working capital.
该交易受标准成交条件的约束，包括偿还某些债务和实现最低营运资金。
About Simplicity Esports and Gaming Company:
关于 简单电子竞技和 博彩 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个电子竞技游戏中心的特许经营商，无论技能或经验如何，公众都有机会在竞争和休闲社交环境中体验游戏和电子竞技。
About Diverted River Technology, LLC:
关于 已转移 河流科技， 有限责任公司：
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是基于位置的娱乐（“LBE”）行业的ETO。DroverRiver 通过其名为Takoha的专有云用户平台将其集成到众多娱乐、商业、数据和管理系统中，以帮助LBE的经理和所有者为客户提供无缝体验，同时将所有客户的数据汇编到一个分析系统中。Drovered River 由GGCircuit的创始人创立。GGCircuit在2021年以2600万美元的价格被出售给了纳斯达克上市的电子竞技娱乐集团。
Forward-Looking Statements:
前瞻性 声明：
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.
本新闻稿包含构成 “前瞻性陈述” 的声明。前瞻性陈述受许多条件的约束，其中许多条件超出了Simplicity Esports的控制范围，包括Simplicity Esports于2022年9月27日向美国证券交易委员会（“SEC”）提交的10-K表年度报告中的风险因素部分以及我们随后向美国证券交易委员会提交的文件，这些文件不时修订或更新。Simplicity Esports向美国证券交易委员会提交的文件副本可在美国证券交易委员会的网站上查阅 www.sec.gov。除非法律要求，否则在本版本发布之日之后，Simplicity Esports没有义务更新这些声明以进行修订或更改。
Simplicity Esports Contact:
Roman Franklin
Chief Executive Officer
Roman@SimplicityEsports.com
855-345-9467
简易电子竞技联系人：
罗马富兰克林
首席执行官
Roman@SimplicityEsports.com
855-345-9467
