Diverted River is an Entertainment Technology Organization (“ETO”) began by the founders of ggCircuit. ggCircuit was bought to NASDAQ listed Esports Entertainment Group for $26,000,000 in 2021.
Boca Raton, Florida, Sept. 29, 2022 (GLOBE NEWSWIRE) — Simplicity Esports and Gaming Company (OTCQB:WINR) (“Simplicity Esports”) has entered into an change settlement with Diverted River Technology, LLC (“Diverted River”), pursuant to which Simplicity Esports agreed to accumulate 100% of the membership pursuits of Diverted River in change for 80% of the issued and excellent shares of Simplicity Esports’ widespread inventory.
Roman Franklin, CEO of Simplicity Esports, acknowledged, “I am thrilled with the prospect of working together with Zack Johnson and his incredible team. Their previous company, ggCircuit, had software and services that dominated the esports gaming center industry space. Their experience, relationships, and reputation provide a solid foundation to grow Diverted River into a powerhouse company servicing the technology needs of the broader $35 billion-dollar family entertainment center industry.”
Following the closing, it’s anticipated that, Simplicity Esports’ title might be modified to Diverted River Technology, Inc., and the business of Simplicity Esports will grow to be that of Diverted River, an ETO targeted on a sustainable, excessive margin, recurring income business mannequin that requires restricted capital expenditures. It can also be anticipated that Mr. Johnson, Diverted River’s CEO, will grow to be CEO of the general public firm following the closing.
Zack Johnson, CEO of Diverted River, added, “We met Roman and Simplicity Esports three years ago when four different companies were bidding to buy our esports software company, ggCircuit. Simplicity Esports was a great client of ggCircuit and we are impressed with Roman and his business and financial intelligence in the public market. Now as we expand our platform experience into a 10x larger entertainment market, we are excited to join forces and launch our new platform together as Diverted River in 2023.”
“Our team now boasts just shy of 80 million hours of usage on our software platforms over the past 20 years in high profile and public spaces in retail, educational, and esports venues,” Johnson continued. “The Family Entertainment Center (“FEC”) industry is technologically fragmented and utilizes 15-17 software tools per business to manage their backend and customer experience. They are served by slow moving software companies utilizing outdated technology stacks that hold these businesses hostage with proprietary hardware and software. We plan to flip this industry on its head and provide solutions that allow venues to have open market hardware choices, and robust integration points with synergistic software platforms.”
The transaction, which is anticipated to shut previous to yr finish, is topic to plain closing situations, together with the reimbursement of sure money owed and reaching a minimal quantity of working capital.
About Simplicity Esports and Gaming Company:
Simplicity Esports and Gaming Company (WINR) owns 5 esports gaming facilities and is the franchisor for 12 esports gaming facilities that give the general public a possibility to expertise gaming and esports in aggressive and informal social settings, no matter ability or expertise. Simplicity branded groups compete in common video games corresponding to Heroes of the Storm®. Simplicity Esports additionally organizes and hosts varied in-person occasions and play from residence, on-line tournaments.
Heroes of the Storm® is a registered logos of their proprietor.
About Diverted River Technology LLC:
Diverted River is an ETO for the location-based leisure (“LBE”) business. Diverted River supplies integration by their proprietary cloud-based consumer platform known as Takoha into a large number of leisure, business, information and administration programs to assist managers and homeowners of LBEs present a seamless expertise for his or her clients whereas compiling all of their clients’ information in a single analytics system.
Forward-Looking Statements:
This press launch comprises statements that represent “forward-looking statements.” Forward-looking statements are topic to quite a few situations, lots of that are past Simplicity Esports’ management, together with these set forth within the Risk Factors part of Simplicity Esports’ Annual Report on Form 10-Ok filed with the Securities and Exchange Commission (the “SEC”) on September 27, 2022 and our subsequent SEC filings, as amended or up to date infrequently. Copies of Simplicity Esports’ filings with the SEC can be found on the SEC’s web site at www.sec.gov. Simplicity Esports undertakes no obligation to replace these statements for revisions or adjustments after the date of this launch, besides as required by legislation.
Simplicity Esports Contact:
Roman Franklin
Chief Executive Officer
[email protected]
855-345-9467
