Greenlite Ventures Signs Letter of Intent to Acquire Grin Gaming

Rhea-AI Summary

Greenlite Ventures (OTC Pink: GRNL) has signed a Letter of Intent to acquire Grin Gaming (GRIN), an AI-driven sports betting technology company. GRIN has generated over $5 million in revenue and raised nearly $5 million in investment capital. The acquisition aims to integrate GRIN's software stack, including in-play data platforms and consumer products, into GRNL's No Limit AI ecosystem by the end of 2024.

Key highlights:

• GRIN specializes in AI-driven micro markets and player prop pricing engines
• Integration planned for both B2C and B2B offerings
• GRIN's LLM and natural language processing capabilities to enhance user experience
• Revenue generation expected in time for a Super Bowl PR push

The acquisition is expected to accelerate GRNL's AI revenue production and market penetration in the sports betting industry.

Positive

• Acquisition of Grin Gaming's AI-driven sports betting technology
• Integration of $5 million revenue-generating software stack
• Access to GRIN's $5 million investment capital
• Expansion into B2C and B2B sports betting markets
• Acceleration of AI revenue production for GRNL
• Addition of advanced LLM and natural language processing capabilities

Negative

• 30-day due diligence period and pending definitive agreement
• Potential integration challenges of GRIN's software stack
• Uncertain timeline for revenue generation from the acquired technology

LOS ANGELES, CA / ACCESSWIRE / August 20, 2024 / Greenlite Ventures, Inc (OTC Pink:GRNL) has announced the signing of an Asset Purchase LOI with Grin Gaming (GRIN) subject to a 30-day due diligence and a definitive agreement. GRIN has been working with top venture firms in the US to build AI driven in-play micro markets and player prop pricing engines applicable to both parimutuel and peer-to-peer markets. GRIN has generated more than $5mil in revenues over the past 3 years and has raised nearly $5mil in investment capital. GRIN was considered a first mover in the micro betting space for both B2C and B2B.

GRNL plans to integrate the entire GRIN software stack by the end of 2024. This includes the integration of GRIN's backend in-play data platform as well as their fully built front-end consumer product. GRIN's software systems will also be utilized in the launching of No Limit AI betting subscription services and peer-to-peer exchanges. The goal is for all components of the No Limit AI ecosystem to be driving revenues in time for a major PR push surrounding the Super Bowl.

In addition to their AI experience in the pricing side of gambling, GRIN also brings strong developmental experience with LLMs and natural language processing. The company has developed a proprietary language pipeline that can customize chatbots to company and domain-specific knowledge as well as enable voice-prompted software execution. This software is expected to play an integral role in the user-friendly delivery of No Limit AI generated betting alerts.

"We could not have found a better group to work with for our sports-centric AI ecosystem than the team at GRIN," said Rafael Groswirt, GRNL CEO. "We share almost identical visions for the future of AI driven betting systems and services and how to best monetize them for public consumption. This acquisition is going to greatly accelerate our AI revenue production and help us gain traction in sectors that could have taken us years to penetrate. We intend to fully capitalize on the synergistic systems we are acquiring from GRIN and the game changing programs we have jointly planned for the future."

ABOUT GREENLITE VENTURES:

Through its merger with No Limit Technology Holdings Inc., GRNL is bringing together the efficiency of Artificial Intelligence. blockchain technology, cryptocurrency, and newly developed peer-to-peer algorithms powered by NoLimitCoin (NLC), to dramatically disrupt the entire sports betting industry. GRNL's new AI driven sports advisory services and decentralized betting platforms will be generating a trove of player benefits never before seen in the marketplace.

Website: https://greenliteventures.com/

SAFE HARBOR STATEMENT

This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological risks pertaining to the Company's business may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise. No information in this publication should be interpreted as any indication whatsoever of the Company's future revenues, results of operations, or stock price.

Contact: Jeff DeForrest; 954 288 4725; jeffdeforrest5@gmail.com

SOURCE: Greenlite Ventures, Inc.

View the original press release on accesswire.com

FAQ

What is the purpose of Greenlite Ventures' acquisition of Grin Gaming?

Greenlite Ventures (GRNL) is acquiring Grin Gaming to integrate their AI-driven sports betting technology, accelerate AI revenue production, and expand into B2C and B2B sports betting markets.

How much revenue has Grin Gaming generated before the acquisition by GRNL?

Grin Gaming has generated more than $5 million in revenues over the past 3 years prior to the acquisition by Greenlite Ventures (GRNL).

When does GRNL plan to complete the integration of Grin Gaming's software?

Greenlite Ventures (GRNL) plans to integrate the entire Grin Gaming software stack by the end of 2024.

What specific technologies will GRNL gain from the Grin Gaming acquisition?

GRNL will gain AI-driven in-play micro markets, player prop pricing engines, backend data platforms, front-end consumer products, and advanced LLM and natural language processing capabilities from the Grin Gaming acquisition.