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Playmaker Capital Inc. (TSXV: PMKR; OTC: PMKRF) announced the payment of US$2 million in deferred consideration related to its acquisition of YB Media LLC, paid through 4,299,000 common shares at C$0.60 each. Additionally, a payment of C$21,000 was issued to a sales advisory consultant, satisfied via 52,500 shares at C$0.40. Following its acquisition of JuanFutbol, sellers received 421,754 shares and may earn 1,447,192 more based on performance targets through December 31, 2023.
Positive
Successful acquisition of YB Media LLC with US$2 million payment.
Engagement with sales advisory group for enhanced business strategy.
Potential for additional shares through performance-based incentives related to JuanFutbol acquisition.
Negative
None.
TORONTO--(BUSINESS WIRE)--
Playmaker Capital Inc. (TSXV: PMKR) (“Playmaker”), the digital sports media company that delivers authentic content experiences through its portfolio of sports media and technology brands, announced today that in connection with its previously announced acquisition of YB Media LLC on July 26, 2021, the Company paid US$2,000,000 of deferred consideration to the vendors. The deferred consideration was satisfied entirely through the issuance of 4,299,000 common shares (the “Deferred Shares”), at a deemed price of C$0.60 per Deferred Share in accordance with the terms of purchase agreement.
In connection with Playmaker’s previously announced consulting services agreement with a sales advisory group (the “Consultant”) dated February 11, 2022, Playmaker has issued a payment of C$21,000 to the Consultant. The payment was satisfied entirely through the issuance of 52,500 common shares (the “Consultant Shares”) at a price of C$0.40 per Consultant Share, which represents the closing price of the common shares the day after the culmination of the Consultant’s term with the Company.
Additionally, per Playmaker’s previously announced acquisition of underdog dba JuanFutbol (“JuanFutbol”) on August 3, 2022, in connection with the transaction, the sellers received 421,754 Playmaker common shares on closing, and are eligible to receive a maximum of 1,447,192 additional Playmaker common shares if certain revenue and performance targets are exceeded, in the period of July 1, 2022 to December 31, 2023.
TSX VENTURE EXCHANGE DISCLAIMER
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT PLAYMAKER
Playmaker (TSX-V: PMKR; OTC: PMKRF) is a digital sports media company that acquires and integrates premier fan-centric media brands, curated to deliver highly engaged audiences of sports fans to tier one advertisers, online sports betting operators, and sports federations and leagues. Leveraging its in-house technology stack, Bench, and with a 360 degree view of sports fans, Playmaker delivers authentic digital content experiences for sports fans and best-in-class results for its partners across the Americas.
What recent acquisitions has Playmaker Capital made?
Playmaker Capital recently acquired YB Media LLC and JuanFutbol, with the YB Media acquisition completed on July 26, 2021.
How did Playmaker Capital pay the deferred consideration for YB Media?
Playmaker Capital paid US$2 million in deferred consideration for YB Media through the issuance of 4,299,000 common shares at a deemed price of C$0.60.
What incentives are related to the JuanFutbol acquisition?
The sellers of JuanFutbol may receive up to 1,447,192 additional shares based on performance targets from July 1, 2022, to December 31, 2023.
What is the significance of the shares issued to the consultant?
Playmaker issued 52,500 shares to a sales advisory consultant as payment, reflecting the company's strategy to leverage expert advice.
