Technology & FinTech Leaders CREATD and TAMI Ventures Inc., Plan to Combine Forces in $23 Million Transaction
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- Privately-held TAMI Ventures will be acquired by Creatd, Inc. (OTCQB:CRTD)
- TAMI Ventures is a diversified portfolio of assets concentrated in the technology, advertising, media and information (TAMI) sectors.
- TAMI's in-house built Proprietary Technology platform and stack, focused on Social Media and Gaming Platform including Sport Betting, Fantasy, ESPORTS, Racing, Virtuals, Lottery, Casino Slots and Table Games
Creatd, Inc. and TAMI Ventures have entered into a binding Letter of Intent (LOI) to solidify their commitment to the transaction. To further demonstrate their commitment and the seriousness of this transaction, a breakup fee of
Under the proposed all-prefered shares transaction, Creatd will welcome TAMI Ventures as a wholly owned subsidiary, issuing 2 year restricted preferred shares to TAMI Ventures shareholders at an aggregate valuation of
TAMI Ventures brings to the table an extensive portfolio of in-house developed, proprietary technology platforms, including social media, sports betting, fantasy sports, eSports, racing, virtuals, lotteries, casino slots, and table games.
Post-transaction, the combined entity will target the rapidly expanding sports betting market, capitalizing on the sector's significant growth, as evidenced by a record
Timothy Alford, Executive Chairman of TAMI Ventures, highlighted the transaction's strategic benefits, stating, "This represents a monumental opportunity for both TAMI Ventures and Creatd to leverage our combined technologies and expertise to capture significant market share in the sports gaming and social media sectors. As a publicly traded entity, we look forward to providing enhanced liquidity, increased brand visibility, and the realization of our collective technological advancements to our shareholders."
Jeremy Frommer, CEO of Creatd, Inc., expressed enthusiasm for the transaction, remarking, "Joining forces with TAMI Ventures and its talented team is a pivotal step in our journey to build a diversified portfolio of leading-edge tech and media assets. This transaction lays the groundwork for significant growth. Equally important, it substantially increases our net equity on the balance sheet, improving our uplist prospects to a national exchange."
Further details regarding the transaction will be disclosed in an upcoming Form 8-K filing with the
About Creatd, Inc.
Creatd, Inc. (OTCQB:CRTD) is a global leader in digital technology and creator-centric platforms.
About TAMI Ventures Inc.
TAMI Ventures Inc. is a privately held portfolio company specializing in technology, advertising, media, and information sectors.
Forward Looking Statements
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SOURCE Creatd, Inc.
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