VANCOUVER, BC / ACCESSWIRE / December 8, 2020 / YDX Innovation Corp. (TSXV:YDX)(OTC PINK:YDRMF)(FSE:APY1) ("YDX" or the "Company"), is pleased to announce that Amuka Esports received approval from their shareholders to enter a definitive agreement to merge with YDX. The company held a special meeting on November 30th to discuss and vote on the transaction.
"Our board of directors have been working around the clock, with YDX, to move this transaction forward. With the majority of our shareholders in favor of the transaction, we are able to take the next steps in completing the transaction and creating an immediate leader in digital media, esports and entertainment," stated Amuka Esports CFO, Aaron Meckler.
Both companies are working towards having a definitive deal closed in Q1 of 2021, pending approval from the TSX Venture Exchange.
YDX announced a non-binding LOI to acquire the outstanding shares of Amuka Esports on October 15th, 2020. The acquisitions of Amuka Esports and Shattered Dreams are part of a robust strategy to own and develop some of the best esports assets in Canada.
Daniel Japiassu, CEO of YDX added, "With the Amuka Esports shareholders voting to approve the transaction, we can move into the definitive agreement. I look forward to merging our assets and exploring opportunities within the networks of the two groups. These groups which include some of the biggest brands in the world, who are all looking for a way to connect with esports and gaming. With online leagues, tournaments, media, and teams, we are uniquely positioned to lead the next stage in the industry."
About YDX Innovation
YDX Innovation Corp. (TSXV:YDX :: www.ydxinnovation.com) is a global leader in the commercialization of immersive new technologies that incorporate virtual reality, augmented reality, esports and gaming. Its core business seeks to monetize through licensing its IP, developing interactive exhibitions and through esports tournaments and content.
Arkave VR Arena - https://sales.arkavevr.com/ - is a proprietary gaming platform that brings location based virtual reality to any location-based event or entertainment centre. Arkave features state-of-the-art free roam technology coupled with a vast library of both in-house and third party games.
YDreams Global - www.ydreamsglobal.com - has developed over 2,000 interactive and immersive experiences for some of the largest global brands including Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes-Benz, Coca-Cola, Santander, AB InBev, Qualcomm, Unilever, Fiat and the City of Rio de Janeiro.
Purple Mage Advisors - www.purplemage.com - Purple Mage Advisors (PMA) is a research and data analysis firm that specializes in player recruitment and development in the gaming industry. PMA helps esports and gaming companies with industry reports, player recruitment, player training, data analysis and relevant statistical reporting.
RENDER - www.render.gg - Render is a professional video production studio specializing in crafting video content for YouTubers, Streamers, Teams and Brands. Render is highly specialized in gaming content, but also works with a wide variety of digital media.
About Amuka Esports
Amuka Esports - https://amukaesports.com - is a diversified esports company focusing on teams, tournaments, content and venues. This includes operating Canada's largest esports venue along with teams based in North America and Europe.
Director and CEO
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, without limitation: the intention to acquire Amuka Esports; Thew new merged company be an immediate industry leader in delivering esports; that the combined company will be able to have a more streamlined operation workflow to better monetize its existing revenues stream. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Company's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Company's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Transaction, including: that the Company's assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and VR; the inability to bring Virtual Reality to consumers directly and offer expertise in immersive technologies; and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Company, including its results and financial condition. Except as required by securities law, the Company does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: YDX Innovation Corp.