Intema Solutions Inc. has signed a letter of intent with Amuka Ventures Inc. to acquire all the outstanding shares of Parabellum Media Inc., owner of Parabellum Esports and Northern Shield Academy. Parabellum Esports was founded in 2020 and is one of Canada’s top esports teams, currently fielding rosters in Rainbow Six, Rocket League, CS:GO, and iRacing. Parabellum is currently sponsored by Zowie, Corsair, Whoosh, and CoinSmart, and is the top-selling Canadian esports brand at Sector Six Apparel.
“We are thrilled to welcome Parabellum to the Intema team, which further strengthens our ecosystem with the addition of its leading esports team, as well as a training academy for the next generation of players,” said Laurent Benezra, the CEO of Intema. “In its short history, Parabellum has been very successful at promoting its brand and we believe that it will play a fast-growing role in Intema’s success.”
For its part, Northern Shield Academy is a developmental team that works with up-and-coming esports athletes to help them take their game to the next level. Participants in the academy have the opportunity to learn from professional coaches, analysts, and scouts to help them reach the next level in their gaming careers.
The letter of intent stipulates that Intema and Amuka Esports will negotiate and enter into a definitive agreement with respect to the proposed transaction, providing for Intema to acquire all of the issued and outstanding shares of Parabellum for a total consideration of $700,000, to be paid in common shares of Intema, which shares will be subject to a voluntary escrow on to the following terms:
(I) 25% of the shares will be subject to a resale restriction of four months and one day from the closing date.
(II) An additional 25% of the shares will be subject to a resale restriction of 12 months from the closing date.
(III) An additional 25% of the shares will be subject to a resale restriction of 18 months from the closing date.
(IV) The remaining 25% of the shares will be subject to a resale restriction of 24 months from the closing date.
(All information was provided by GlobeNewswire)
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