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Enthusiast Gaming Announces Acquisition of Omnia Media, Forming Largest Gaming Media, Esports and Entertainment Platform in North America
Enthusiast Gaming Announces Acquisition of Omnia Media, Forming Largest Gaming Media, Espo...
About this update from Enthusiast Gaming Holdings Inc
[{"type":"text","content":"\n\n\n\nEnthusiast Gaming Announces Acquisition of Omnia Media, Forming Largest Gaming Media, Esports and Entertainment Platform in North America\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 6, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\nAnnounces $15 Million Bought Deal Financing \nCombined Platform to reach 300 million gamers monthly generating more than 4.2 billion monthly views Includes 70 million Esports fans across world class organization, Luminosity Gaming and Call of Duty and Overwatch League franchises, Seattle Surge and Vancouver Titans Over 500 gaming influencers with combined subscriber base of over 500 million on YouTube and Twitch Pro forma 2019 revenue of ~$110 million Combined company expected to immediately generate positive EBITDA Acquisition delivers on core strategic priorities of (1) owning more viewers, (2) creating more content, (3) driving subscriptions, (4) new revenue streams, and (5) improved analytics for targeted advertising TORONTO, Aug. 6, 2020 /CNW/ - Enthusiast Gaming Holdings Inc. (\"Enthusiast Gaming\" or the \"Company\") (TSX: EGLX) (OTCQB: ENGMF) (FSE: 2AV) is excited to announce that it has entered into a binding share purchase agreement (the \"Agreement\"), to acquire 100% of the issued and outstanding shares of Omnia Media Inc. (\"Omnia\") from Blue Ant Media Solutions Inc. (\"Blue Ant\"), to create the largest gaming media, esports and entertainment platform in North America by users, with 300 million video game and esports fans monthly.    \nUpon completion of the Agreement, Enthusiast Gaming will acquire 100% of the issued and outstanding shares of Omnia from Blue Ant (the \"Transaction\"). The purchase price will consist of 18.25 million common shares of Enthusiast Gaming (each a \"Common Share\" and together, the \"Share Consideration\"), $11.0 million in cash (the \"Cash Consideration\"), subject to adjustments, and a vendor-take-back note (\"VTB\") with a face value of $5.7...