Liquid Media Group Ltd. entered into a share purchase agreement to acquire 51% stake in Majesco Entertainment Company on November 22, 2017. As of December 12, 2017, Liquid Media Group Ltd. entered into an amended and restated share purchase agreement to acquire 51% of the issued and outstanding shares of Majesco Entertainment Company for $1.4 million. As consideration, the Company will issue common shares of the Company with a value of $500,000 based on a deemed price of $1.50 per share and cash consideration of $1 million payable during the first four fiscal quarters following the fiscal quarter in which the closing occurs each. On January 9, 2018, the Company issued 66,667 common shares. In a related transaction, Liquid Media received and accepted a subscription agreement for private placement of newly created Class B Series I preferred shares for gross proceeds of up to $4 million. Majesco will be led by its current Chief Executive Officer Jesse Sutton, who will now serve as Liquid Media's Gaming Advisor. Liquid Media Group Ltd. completed the acquisition of 51% stake in Majesco Entertainment Company on January 9, 2018.