Entain Plc (LSE:ENT) entered into a share sale and purchase agreement to acquire Tiidal Gaming NZ Limited from Tiidal Gaming Group Corp. (CNSX:TIDL) for NZD 13.3 million on March 13, 2023.The Purchase Agreement includes payment of a NZD 0.5 million termination fee that is payable by Tiidal Holdings to Entain in the case of certain terminating events. Transaction was already approved by Tiidal Gaming Group Corp. board of directors and is subject to approval from Tiidal Gaming Group Corp shareholders. BDO Canada LLP acted as Financial and fairness opinion advisor to the board of directors of Tiidal Gaming Group Corp. As on April 26, 2023, Tiidal Gaming Group has received the approval of its shareholders at its annual and special meeting of shareholders held, among other things, the sale of the outstanding shares of the Company’s operating subsidiary. The completion of the Transaction remains subject to the satisfaction or waiver of certain closing conditions customary for transactions of this nature. Assuming the satisfaction or waiver of these conditions, the Transaction is expected to be completed in or about May 2023. Geoffrey Cher, Joel Fraser and Brendan Wu of Wildeboer Dellelce LLP acted as legal advisor to Tiidal Gaming Group Corp.

Entain Plc (LSE:ENT) completed the acquisition of Tiidal Gaming NZ Limited from Tiidal Gaming Group Corp. (CNSX:TIDL) on June 9, 2023.