Gaming companies are becoming more interested in the blockchain and cryptocurrency market as it becomes increasingly obvious that online gambling is a big business. This interest has driven up demand for skilled game developers, who have seen their salaries increase by 50% over the past year alone.
Wondr Gaming, a Toronto-based entertainment firm, announced this week that it and Gamelancer Inc. had concluded a formal stock purchase agreement. The Canadian firm will acquire all of Gamelancer’s issued and outstanding common shares under the terms of the transaction. Gamelancer is the fastest-growing gaming platform on TikTok and Snapchat, with 22 owned and controlled channels.
Wondr Gaming is a publicly-traded entertainment firm on the Canadian Securities Exchange, which creates partnerships in the eSports, professional sports, and music industries, via its loyalty & rewards, NFTs, and media services. The company creates its income by brand partnerships on its loyalty & rewards platform, as well as the sales of NFTs which are based on sports and eSports.
The Contract
According to the details of The Contract, Wondr Gaming has approved to issue common shares in the capital of Wondr also known as Consideration shares, which is equal to 49% of the issued and outstanding common shares of the company. Additionally, it has agreed to pay in the aggregate US$12,000,000 in cash to acquire Gamelancer. Consideration Shares and Cash Payments will be issued to Gamelancer on a pro-rata basis.
In addition, the Canadian corporation has decided to nominate Razvan Romanescu, Gamelancer’s co-founder, to its Board of Directors. In addition, during Gamelancer’s next annual meeting, Darren Lopes will be nominated as a nominee Director, and the firm will rename to Gamelancer Gaming Corporation. The business will trade under the ticker “GMNG” when the deal is finalized.
After that, Mr. Lopes will be named Chief Product Officer, and Zak Longo will be named Chief Creative Officer. Mr. Romanescu will own 90,572,302 common shares in Wondr Gaming’s capital when the deal is completed, which is equivalent to 20.9 percent of the firm on a non-diluted basis.
The two firms have also said that the deal is expected to be completed on or around April 1, 2022. They also said that Jon Dwyer, the company’s Chairman and Chief Executive Officer, would stay in his role, as will Mike Cotton, the company’s President and Chief Operating Officer. Stephen Brooks, the Chief Financial Officer, will also stay on.
Back in the summer of 2021, Wondr Gaming announced that prominent technology and media entrepreneur Max Desmarais will be taking over the company’s role of Chief Strategy Officer. Mr. Desmarais was brought in to help improve the firm’s Loyalty & Rewards, Media, and NFT business. According to Mr. Cotton, he will prove crucial for the company’s growth and revenue strategies.
Acknowledgement from CGA
The Canadian Gaming Association has not missed the fast rising eSports business on the continent and throughout the globe. The CGA announced last year that it will collaborate with Fandom Sports, a renowned eSports game supplier and developer. The business was keen to enter the nation just as single-game betting was becoming legalized, which would provide eSports wagers more latitude.
“Wondr Gaming is acquiring a 100 percent stake in Gamelancer, the biggest worldwide GenZ social media network in gaming,” according to the source. Wondr to rebrand as Gamelancer Gaming Corp., with the CSE ticker GMNG,” Wondr Gaming, March 21, 2022.
