NorthStar Gaming Holdings Inc. completed the acquisition of Slapshot Media Inc.
NorthStar Gaming Holdings Inc. (TSXV:BET) completed the acquisition of Slapshot Media Inc. on May 8, 2023. The Company acquired all of Slapshotâs issued and outstanding shares for $1,800,000, plus an adjustment for working capital. The Company issued 3,818,181 common shares to the former owners of Slapshot at a value based on the volume weighted average trading price equal to $0.55 per share reflecting the purchase price an estimate of $300,000 in respect of estimated working capital. The vendors of Slapshot are also be entitled to a separate earn-out of up to $500,000 based on revenue performance of Slapshot for the 12-month period following the closing, payable quarterly in Company common shares with a deemed value per share equal to the greater of: (i) a 20-day volume weighted average price calculated at the end of each applicable quarter; and (ii) $0.45 per share.