LEAF Provides Update Regarding EastSide Games Acquisition & Announces Filing of Preliminary Short Form Prospectus

About this update from East Side Games Group Inc

[{"type":"text","content":"\n \n \n \n LEAF Provides Update Regarding EastSide Games Acquisition & Announces Filing of Preliminary Short Form Prospectus\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n LEAF Provides Update Regarding EastSide Games Acquisition & Announces Filing of Preliminary Short Form Prospectus\n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Nov. 11, 2020\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 11, 2020\n \n /CNW/ - LEAF Mobile Inc. (TSXV: LEAF) (\"\n \n LEAF\n \n \" or the \"\n \n Company\n \n \") provides the following update regarding its proposed acquisition of EastSide Games Inc. (the \"\n \n Acquisition\n \n \"), previously announced on\n \n October 7, 2020\n \n .\n \n \n \n \n \n \n \n \n \n \n The Acquisition\n \n \n \n \n Acquisition Agreement\n \n \n \n LEAF, EastSide Games Inc. (\"\n \n ESG\n \n \") and the securityholders of ESG have entered into a purchase agreement dated\n \n October 31, 2020\n \n (the \"\n \n Acquisition Agreement\n \n \"), which formalizes the terms and conditions of LEAF's acquisition of all outstanding securities of ESG (the \"\n \n Acquisition\n \n \").\n \n \n In consideration, LEAF will pay the ESG securityholders (a)\n \n $50 million\n \n in cash, subject to adjustments, and (b) that number of LEAF common shares (\"\n \n LEAF Shares\n \n \") that will be equal to 50% of the issued and outstanding LEAF Shares upon completion of the Offering (as described below), calculated on a fully-diluted basis but without taking into consideration any LEAF shares issued or issuable in connection with the Over-Allotment Option (also described below).  As at the date of this news release, it is anticipated that 479,435,755 LEAF Shares will be issued under the Acquisition.\n \n \n Completion of the Acquisition is subject to a number of conditions, including but not limited to acceptance of the TSX Venture Exchange (\"\n \n TSXV\n \n \"), majority of the minority LEAF shareholder approval, and receipt of Toronto Stock Exchange approval to list the LEAF Shares for trading upon completion of the Acquisition. The Acquisition cannot ...

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