GOAT Industries Announces Entering Into Of Definitive Agreement To Acquire Gambling Platform

Core Viewpoint - GOAT Industries Ltd. has entered into a binding share exchange agreement to acquire 1509467 B.C. Ltd. and is negotiating a similar agreement with Veroom, Inc., focusing on the global sports betting market, particularly in North America [1][2][6] Group 1: Transaction Details - The acquisition of 1509 will involve the issuance of 54,322,500 common shares at a deemed price of $0.21 per share, totaling an aggregate purchase price of $11,407,725 [4][6] - 46,822,500 of the shares will be subject to a voluntary escrow with performance milestones tied to revenue targets of $10 million and $20 million [4][5] - The transaction is contingent upon regulatory approvals, completion of the Vroom transaction, shareholder approval, and an equity financing of $2 million to $6 million [6][7] Group 2: Business Focus of Targets - The Targets, 1509 and Vroom, operate in the global sports betting market, leveraging technologies and licenses that provide competitive advantages to casinos and sportsbooks through AI and content recognition [2][3] - 1509 holds technologies and US licenses that enhance the marketing and advertising capabilities of casinos and sportsbooks [2] Group 3: Regulatory and Approval Process - The transaction will require shareholder approval due to the issuance of more than 100% of the current outstanding shares, and the company will provide financial statements for the Targets to shareholders [7] - The completion of the transaction will trigger a business acquisition report under National Instrument 51-102 [7]