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Simplicity Esports and Gaming Company (WINR) has announced an agreement to convert over $6.1 million in debt into 5% ownership of common stock following the closing of its exchange agreement with Diverted River Technology, LLC. The deal involves acquiring 100% of Diverted River's membership interests in exchange for 75% of Simplicity Esports’ common stock. The transaction is anticipated to close by July 14, 2023. Post-closing, the company's name will change to Diverted River Technology, Inc., with its operations shifting towards a sustainable, high-margin revenue model in the entertainment technology sector.
Simplicity Esports and Gaming Company (WINR) announced an exchange agreement to acquire Diverted River Technology for 80% of its common stock. This acquisition aims to leverage Diverted River's expertise in the esports industry, following its successful sale of ggCircuit for $26 million in 2021. The merger is expected to transition Simplicity Esports into Diverted River Technology, enhancing its focus on a recurring revenue model for the $35 billion family entertainment center sector. The transaction is pending standard closing conditions.
Simplicity Esports and Gaming Company (OTCQB:WINR) anticipates reporting over 100% revenue growth for the fiscal year ending May 31, 2022, building on prior fiscal years' revenues of $861,000 (2020) and $1,552,000 (2021). CEO Roman Franklin highlighted that sales from gaming merchandise and gaming center services are driving growth. The company operates 17 esports centers and franchises another 12, also mining cryptocurrency during idle hours. Simplicity Esports is pursuing a listing on the NASDAQ Capital Market, pending approval.
Simplicity Esports and Gaming Company (WINR) has appointed Beatrice Tarka as Chairperson of the Board of Directors. Tarka brings nearly 30 years of experience in technology, big data, and gaming, notably serving on Travelzoo's Board from 2015 to 2022. CEO Roman Franklin expressed enthusiasm for Tarka's expertise, which will aid in expanding Simplicity's gamer database of over 400,000. Tarka plans to leverage the company’s extensive retail footprint and online capabilities to enhance growth in the esports sector and develop strategies integrating big data.
Simplicity Esports and Gaming Company (OTCQB:WINR) has formed a new partnership with Huvi, which includes a payment of over $300,000 for consulting services and equipment sales. This agreement spans the next 90 days and covers Huvi’s first two gaming centers, granting Simplicity exclusive rights for future Huvi locations for five years. The centers will feature similar systems, including NVIDIA 3090 GPUs, and will utilize the same cryptocurrency mining process as Simplicity's existing centers. This collaboration aims to enhance local gaming options and tournament participation.
Simplicity Esports and Gaming Company (OTCQB:WINR) has secured a $400,000 loan from accredited investors to purchase 80 PCs, which will enhance its esports gaming centers. The loan carries a 10% interest rate, repayable over 60 months. CEO Roman Franklin highlighted that the new NVIDIA 3090 graphics cards will improve customer experience and potentially generate over $20,000 in monthly gross revenue from cryptocurrency mining. The company also plans to list its stock on The NASDAQ Capital Market, though approval is not guaranteed.
Simplicity Esports and Gaming Company (WINR) has partnered with Certified Guaranty Company (CGC), designating 29 of its esports centers as Official Submission Centers for trading card collectibles. This agreement positions Simplicity as the largest network of such centers, enhancing accessibility for customers looking to submit Pokémon and Magic: The Gathering cards for grading. CGC has certified over 1 million trading cards since launching its TCG division in July 2020, reflecting a growing demand for grading services. This partnership aims to increase customer engagement and expand Simplicity's services in the collectibles market.
Simplicity Esports and Gaming Company (WINR) has announced the acquisition of a closed esports gaming center in Tracy, California, which is set to reopen in October 2021. This acquisition supports the company's strategy of growth through both organic means and acquisitions, alongside a recent revenue boost of over $900,000, marking a 350% increase compared to the same quarter last year. CEO Roman Franklin emphasizes the strategic partnership with Namdar Realty Group as part of the company’s ongoing expansion in the esports market.
Simplicity Esports and Gaming Company (WINR) is launching its inaugural collection of Flamengo Esports Non-Fungible Tokens (NFTs), with the first NFT auction set for September 27, 2021, on OpenSea.io. The unique NFT features an autographed Flamengo Esports jersey from the 2021 League of Legends rosters. CEO Roman Franklin expressed excitement about creating digital merchandise for their passionate fan base, featuring autographs from championship-winning teams. This initiative marks a significant step for Flamengo Esports in the NFT space.
Simplicity Esports and Gaming Company (WINR) has secured over $500,000 in retail outlet access fees by becoming the exclusive distributor for ADVANCED®, a leading gaming supplement brand. This partnership enables Simplicity Esports to leverage its extensive network of esports gaming centers, enhancing brand visibility and revenue opportunities. ADVANCED® reported a remarkable 210% year-over-year growth in online sales as of September 1, underscoring the strong market demand for its products. Simplicity plans to expand by adding over 30 new locations in the next 24 months.
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