Consideration Shares are payable to Key Personnel of ShiftRLE on their entry into the Consulting Agreement as well as on closure. % are being issued at an interval of six (6) months. The consideration shares shall be subject to a CSE-imposed hold period of four months from the date of issue, and a contractual resale restriction resulting in the issuance of 25% of the consideration shares six (6) months after the closing date, and 25% thereafter. Payment may be made in cash or in common shares at the election of the Company, at a value equal to the trading price of the fourteen days preceding the date of payment, or at such other price as may be required by the policies of the Exchange.
In pursuance of the APA, X1 will acquire 100% of the assets, including ShiftRLE and the benefit of ongoing services by ShiftRLE’s key personnel, at a total value of (i) US$50,000 in cash, of which US$25,000 is payable at closing and US$25,000 at closing After being due within 45 days (ii) 333,333 common shares in X1’s capital, with an issue price of CAD$0.45 per common share (“idea share”) distributed to each of the four key personnel, and (iii) a 7% share of gross revenue shift up to a maximum of 250,000 Earns in the first (36) months after closing in US dollars (“earns”). The closing date is estimated to be on or before the tenth working day after the execution of the APA. Keep going too.Ĭompletion of the proposed acquisition is subject to the satisfaction or waiver of the termination conditions under the APA, including entering into consultation agreements with key individuals in ShiftRLE (“Consultation Agreement”). Shift plays a vital role in ensuring conversations about Rocket League esports continue beyond the pitch through coverage and insights about roster transactions and general esports news, ensuring fans stay tuned during slow competitive periods. It first rose to prominence by receiving exclusive, behind-the-scenes information on Rocket League roster moves and tryouts before it became public knowledge. Shift is an independent news source for Rocket League fans. Featuring non-stop action in 5-minute games, the car-soccer hybrid game has seen significant growth with a demographic of players since its launch, now seeing a global average of 80 million players per month, according to Active Player 3 He is going. Rocket League is one of the world’s leading esports 2. We want Shift to act as a bridge between casual and hardcore Rocket League players with engaging content that attracts multiple audiences.” , ems, fantasy, and eventually our own tournaments. , With the X1 behind us, we plan to take Shift to the next level, with our ultimate goal of turning Shift into a hub where Rocket League fans can get the latest highlights and stats, and in interactive activities like pickup may be attached. , We are thrilled to be part of the X1 family moving forward as they see our potential in the growth of Rocket League as an esports.” ShiftRLE co-founder Jalen Jones said. With operations in the US and Europe, the organization has established an international presence in the esports industry. The transfer period where the roster news cycle is most active. The shift currently reaches over 8 million impressions during the RLCS’ seasonal period, while it has seen an increase of 14 million impressions during this period. Las Vegas-based ShiftRLE, led by co-founders Achilleas Fotiou and Jalen Jones, has demonstrated consistent user audience growth since its launch in 2020. , This will not only help us meet our core strategic priorities of building a diverse video game ecosystem and providing global brands access to GenZ audiences, but will strengthen X1.
, Adding ShiftRLE to the X1 portfolio would be a great addition.” X1 CEO Mark Elfenbein said.
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