Champion Gaming Group Inc shares have debuted on the TSX Venture Exchange under the symbol ‘WAGR’ following its reverse takeover transaction with Prime City One Capital Corp, which was completed earlier this week.
"Listing publicly on the TSXV marks the next major step in Champion Gaming's journey. We are building the most trusted destination for essential products, services, and content for the sports wagering community, and are just getting started," said Ken Hershman, CEO of Champion Gaming (TSX-V:WAGR).
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The Toronto-based company, through its subsidiary, EdjSports LLC, provides data and analysis that includes Football Outsiders' Defense-adjusted Value Over Average (DVOA) metrics and EdjSports' Game-Winning Chance model, the first NFL simulation model to incorporate key data and game states to determine the most likely outcomes and optimal approaches to maximize a team's win probability.
EdjSports' Coach Rankings data model has also recently made headlines across the globe as it highlights the 2021 season's successes of NFL coaches based upon data analysis that tracks play calls and success rates against historical comparisons and simulations, the company said in a release.
"Champion Gaming (TSX-V:WAGR) is building the 'moneyball of sports wagering,' utilizing its proprietary data-driven approach in new sports, products and premium content offerings to educate and inform sports bettors and fantasy players in addition to entertaining them," Hershman added. "Our team is grateful for the support of all our early investors, and we look forward to continued mutual success."
Completion of reverse takeover transaction
The group recently completed its reverse takeover transaction with Prime City One Capital Corp as part of a September 2021 acquisition agreement.
As part of the transaction, shares of Champion Gaming were consolidated on the basis of one post-consolidation share for every four pre-consolidation shares. After the completion of the consolidation, the shareholders held an aggregate of 3,050,486 post-consolidation shares.
Under the term sheet, Champion Gaming issued an aggregate of 62,895,334 post-consolidation shares to its former shareholders at a price of $0.25 per share, on the basis of one resulting issuer share for each one common share of Champion held by them immediately prior to the closing of the transaction.
Champion also issued warrants entitling the holders to purchase an aggregate of 25,288,000 shares to the former holders of 24,000,000 performance warrants and 1,288,000 finder warrants of the corporation on similar terms, the company said.
The firm's board of directors now consists of CEO Ken Hershman, Sean O'Leary, David Lubotta, Paxton Baker, and Cameron Wickham.
Champion's managment team now includes John Barkeley as CFO, Sean O'Leary as president, and Frank Frigo as chief innovation officer, in addition to Hershman as CEO.
Champion Gaming Group is a sports content, data and analytics company that provides predictive and prescriptive analytical models and win probability applications and statistics in the sports industry for teams, media, fans, and bettors.
Contact Ritika at ritika@proactiveinvestors.com