Global Gaming appoints Atari founder Nolan Bushnell
Global Gaming Appoints Nolan Bushnell to its Board of Directors & Enters the eSports Industry Through the Acquisition of Videre eSports Corp
Global Gaming has appointed Mr. Nolan Bushnell to its board of directors and as the Chief Executive Officer and Chairman of the Company effective immediately.
Mr. Bushnell is the CEO of the Company’s wholly owned subsidiary X2 Games Corp., the founder of Atari Inc. and the founder of Chuck E. Cheese’s Pizza Time Theatre chain, which was sold for $1.3 billion USD in 2014 to Apollo Global Management. Mr. Bushnell has been awarded an Academy Fellowship by The British Academy of Film and Television, was named one of Newsweek’s “50 People Who Changed America” and was one of the first inductees into the Video Game Hall of Fame.
Mr. Shidan Gouran, President of BLOC commented, “The appointment of Nolan to the board of directors will enable BLOC to build a stronger footing in the ever-growing interactive gaming space and we look forward to his many years of leadership and experience within the gaming industry that he brings.”
The Company is also pleased to announce that it has entered into an arm’s length definitive agreement to acquire all of the issued and outstanding common shares in the capital of Videre eSports Corp, a private British Columbia company holding certain intellectual property assets, including a proprietary eSports betting platform that is expected to launch in Q2 2019, by way of a three-cornered amalgamation.
Pursuant to the terms of the Transaction, BLOC will issue 428,865,080 common shares in the capital of the Company, at a deemed price of $0.02 USD per share, in exchange for all of the issued and outstanding common shares in the capital of Videre, representing an aggregate purchase price of $8,577,302 USD. In connection with the Transaction, Videre will amalgamate with a wholly-owned subsidiary of BLOC, 1195991 B.C. Ltd., and it will subsequently assume the name, Videre eSports Corp. Videre has developed a unique eSports betting platform that will become part of BLOC and Videre will continue operate as a wholly-owned subsidiary of BLOC. A finder’s fee will be payable on this Transaction.
Following the acquisition by BLOC, the former shareholders of Videre on a collective basis will own 37.19% of the issued and outstanding share capital of BLOC. None of the former individual shareholders of Videre will hold more than 10% of the issued and outstanding share capital of BLOC.
Nolan Bushnell, Chairman and CEO of the Company, commented, “eSports is the future. Young audiences, large prize pools and thousands of entertaining games attract crowds to stream and attend these events. The growth of the eSports sector has been fuelled by the rapid adoption of technology among millennials, the general rise in all types of online gaming and games’ winning combination of competitive sport and Hollywood-style entertainment. Using the Videre platform through the games we are currently developing will be an exciting prospect and provide for synergies in the years of our company to come.”
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