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Wondr Gaming Enters Into Binding Agreement to Acquire JoyBox Media
Wondr Gaming Enters Into Binding Agreement to Acquire JoyBox Media PR Newswire ...
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[{"type":"text","content":"\n \n \n \n Wondr Gaming Enters Into Binding Agreement to Acquire JoyBox Media\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 \n PR Newswire\n \n \n \n \n \n TORONTO\n \n ,\n \n Oct. 22, 2021\n \n /PRNewswire/ - Wondr Gaming Corp. (CSE: WDR) (CSE: WDR.WT) (the \"\n \n Company\n \n \" or \"\n \n Wondr Gaming\n \n \") is pleased to announce it has entered into a binding agreement dated\n \n October 22, 2021\n \n (the \"\n \n Definitive Agreement\n \n \") to acquire JoyBox Media Inc. (\"\n \n JoyBox\n \n \"), a media network and marketing agency focused on helping brands scale their digital presence and foster online communities.\n \n \n \n \n \n \n \n \n \n Pursuant to the Definitive Agreement, the Company has agreed to acquire all of the issued and outstanding common shares of JoyBox in exchange for: (i)\n \n $1,200,000\n \n worth of common shares of the Company at a deemed price per share of\n \n $0.24\n \n (the \"\n \n Consideration Shares\n \n \"); and (ii) cash payments of\n \n $300,000\n \n (the \"\n \n Cash Payments\n \n \") in the aggregate.\n \n \n The Consideration Shares and Cash Payments will be paid as per the following terms:\n \n \n \n \n $500,000\n \n worth of Consideration Shares and approximately\n \n $144,000\n \n Cash Payment on the closing date of the transaction (the \"\n \n Closing Date\n \n \");\n \n \n \n $350,000\n \n worth of Consideration Shares and approximately\n \n $67,000\n \n Cash Payment, both issuable and payable within ten days of the JoyBox generating\n \n $500,000\n \n in gross revenues; and\n \n \n \n $350,000\n \n worth of Consideration Shares and approximately\n \n $67,000\n \n Cash Payment, both issuable and payable within ten days of the JoyBox generating\n \n $1,000,000\n \n in gross revenues.\n \n \n \n All Consideration Shares issued in connection with the acquisition of JoyBox are subject to a 27-month voluntary escrow agreement between the selling shareholders of JoyBox and the Company, with the first release of 25% of the escrowed shares to be released 18 months from the Closing Date.\n \n \n The parties ...