Intema secures TSXV approval for Loot.Bet acquisition

Intema in May signed a letter of intent to purchase Livestream for $14.75m, split $8.0m in cash, $4.0m issued by a secure vendor and $2.75m in a share issue floated on the TSXV.

A further $3m will be paid if Livestream hits certain revenue targets after the closing date, consisting of $7.5m worth of revenue in the first 12 months and $11.25m after 24 months.

The agreement was subject to a series of requirements in order to progress further, which, in addition to TSXV approval, also included securing a gaming license in the Isle of Man and filing a statement with Canada’s System for Electronic Document Analysis and Retrieval (SEDAR).

Read the full story on iGB North America.

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