Simplicity Esports Signs Exchange Agreement with Software Company Diverted River Technology, LLC
Boca Raton, Florida, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Simplicity Esports and Gaming Company (OTCQB:WINR) (“Simplicity Esports”) has entered into an exchange agreement with Diverted River Technology, LLC (“Diverted River”), pursuant to which Simplicity Esports agreed to acquire 100% of the membership interests of Diverted River in exchange for 80% of the issued and outstanding shares of Simplicity Esports’ common stock.
- Boca Raton, Florida, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Simplicity Esports and Gaming Company ( OTCQB:WINR ) (Simplicity Esports) has entered into an exchange agreement with Diverted River Technology, LLC (Diverted River), pursuant to which Simplicity Esports agreed to acquire 100% of the membership interests of Diverted River in exchange for 80% of the issued and outstanding shares of Simplicity Esports common stock.
- Their previous company, ggCircuit, had software and services that dominated the esports gaming center industry space.
- Following the closing, it is expected that, Simplicity Esports name will be changed to Diverted River Technology, Inc., and the business of Simplicity Esports will become that of Diverted River, an ETO focused on a sustainable, high margin, recurring revenue business model that requires limited capital expenditures.
- 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.