DeepMarkit Closes Acquisition of Prospect Prediction Markets and Initial $1.53 Million Private Placement

Core Insights - DeepMarkit Corp. has successfully closed the acquisition of Prospect Prediction Markets Inc. and completed the first tranche of a non-brokered private placement, raising approximately $1.53 million [1][3] Acquisition Details - The acquisition involved the issuance of approximately 10 million common shares at a deemed price of $0.06 per share, totaling a transaction value of $600,000 [2][4] - Prospect operates a blockchain-based platform for free-to-play sports prediction markets, allowing DeepMarkit to enter the growing sports engagement technology sector [2][10] - Trevor Broad has been appointed as Chief Technology Officer and Director, bringing over 15 years of experience in technology, fintech, and blockchain [11] Financial Aspects - The first tranche of the private placement involved issuing 25,583,332 common shares at $0.06 per share, generating gross proceeds of $1,534,999 [5][6] - The net proceeds from the private placement will be allocated for various purposes, including repayment of existing debt, development of Prospect's platform, and marketing efforts [9] Payment Obligations - Initial payment of $50,000 is due within 90 days of closing, with contingent payments based on achieving specific Monthly Active Users (MAUs) milestones [8] Corporate Structure - The acquisition does not create a Non-Arm's Length transaction, and no finder's fees were involved [12]