--News Direct--
Good Gamer Entertainment Inc. (the “Company”) (TSXV: GOOD, OTCQB: GGAMF), a technology company at the forefront of AI-driven content generation and digital advertising, is pleased to announce that, further to its news release dated February 8, 2024, it has signed the master services and license agreement (“Agreement”) with CommunityLogiq Software Inc. DBA UrbanLogiq (“UrbanLogiq”) whereby the Company shall acquire an exclusive software license for the UrbanLogiq Risk Management Platform, enhancing the Company’s technological capabilities and market reach.
Under the terms of the Agreement, the Company will acquire an exclusive, worldwide license for the UrbanLogiq Risk Management Platform in consideration of the issuance of an up-front payment of CDN$250,000 and the issuance of an aggregate 2,500,000 pre-Consolidation (as defined below) common shares of the Company (the “Shares”) upon the following milestones being met, pursuant to the Agreement:
Event | Payment |
1. Acceptance of Fire Analysis and Modelling Platform | 833,333 shares |
2. Acceptance of Crime Analysis and Modelling Platform | 833,333 Shares |
3. Acceptance of Disaster Analysis and Modelling Platform | 833,333 Shares |
The Shares issued under the Agreement will be subject to a statutory hold period of four months and one day from issuance. The Agreement and the transactions contemplated therein have been accepted by the TSX Venture Exchange.
Change of Directors
The Company also announces the appointment of Barinder Rasode to the Company’s Board of Directors.
Ms. Rasode is an entrepreneurial leader, collaborator, and community advocate renowned for her ability to mobilize diverse stakeholders towards shared objectives. With a keen focus on technology and bioscience ventures, she has catalyzed numerous successful initiatives. Notable among them are co-founding Tersa Earth Innovations—a trailblazing mining waste remediation enterprise—and co-founding HAVN Life, a pioneering wellness company dedicated to standardizing psychoactive compound extraction and advancing natural health solutions.
At the helm of Kyn Biosciences, a forward-thinking business accelerator committed to innovation, diversity, and inclusion, Ms. Rasode champions transformative ideas and emerging talents within the bioscience realm. Her commitment to governance and public service is exemplified by her tenure as a two-term elected Councillor for the City of Surrey and her impactful role on the Board of British Columbia’s largest health authority, where she steered a $3 billion budget with acumen and dedication.
Financing
The Company further announces a non-brokered private placement of up to $1,000,000 (the “Placement”) consisting of up to 10,000,000 pre-Consolidation Shares at a purchase price of $0.10 per pre-Consolidation Share.
The Company will use the proceeds from the Placement towards its obligations under the Agreement and for general working capital. Finder’s fees, payable in cash, shares and/or share purchase warrants, may be payable in accordance with the policies of the TSX Venture Exchange.
The Placement remains subject to the acceptance of the TSX Venture Exchange. All securities issued under the Placement shall be subject to a statutory hold period of four months and one day from issuance.
Share Consolidation
The Company further announces that the Company plans to consolidate its issued and outstanding common shares at a ratio of two (2) pre-consolidated shares to one (1) post-consolidation share (the “Consolidation”). The purpose of the Consolidation is to improve the capital structure and generate greater investor interest.
The Company currently has 45,582,756 common shares issued and outstanding. Upon completion of the Consolidation, the Company will have 22,791,378 common shares issued and outstanding.
In accordance with the Company’s Articles, the Consolidation will not require the approval of the shareholders. The Company will not be changing its name in connection with the Consolidation. The Consolidation is subject to the acceptance of the TSX Venture Exchange.
About Good Gamer Entertainment Inc.
Good Gamer Entertainment Inc. (TSXV: GOOD, OTCQB: GGAMF) is a forward-thinking technology company dedicated to innovating and utilizing AI in technology. With a focus on developing cutting-edge solutions, Good Gamer is committed to enhancing how businesses engage with their audiences and data.
About UrbanLogiq:
UrbanLogiq leverages advanced data integration to support governmental agencies, providing a cohesive platform designed to streamline decision-making processes in an efficient, economical, and data-centric manner. Their approach combines the disciplines of data science, engineering, and big data analytics to assist in creating communities that are safer and more equitable for future generations.
For further information, please contact:
Nicole Payawal
Corporate Development
Email: info@goodgamer.gg
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Resulting Issuer undertakes no obligation to publicly update or revise forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Good Gamer Entertainment Inc.
Contact Details
Good Gamer Entertainment, Inc.
Nicole Payawal
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