(NewsWire Update)
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Melbourne, Victoria, Australia –
NewsWire Update –
August 10, 2023 –
Following the announcement from August 3, 2023,
SQID Technologies Limited
(
CSE:SQID
)
is pleased to confirm the completion of a share sale agreement (at arm’s length) with BLSS Holdings Pty Ltd. (“BLSS”). BLSS has thus acquired 100% of ICON Esports Pty Ltd’s share capital. SQID is to receive a share of EBITDA generated by ICON for three calendar years and has received a gross amount of A$1. The EBITDA share comprises 10% in the first two calendar years and 8% in the third calendar year.
The divestment from ICON improves SQID’s financial health and strategic flexibility. SQID expects a profit from the divestment.
ICON Esports (ICON) is a reputable esports and gaming organisation in Australia & New Zealand, which targets the Oceanic market through brand-based marketing campaigns, partnerships, and merchandise for its esports and gaming audience.
BLSS, operating out of Queensland, Australia, is a well-known esports organisation and gaming facility corporation that will continue managing the ICON brands under the leadership of its Chief Operating Officer Brendan Harms.
For more details, get in touch with:
Athan Lekkas
Director
E-mail: athan@dalext.com
Phone: +61 3 9820 6400
About SQID Technologies
SQID Technologies Limited [CSE: SQID] is an Australia-located company specialising in payment processing and investing. It offers merchant services and transaction processing to business and ecommerce customers across B2B and B2C segments via its premier partner platform (Merchant Warrior).
Visit www.sqidtechnologies.com to learn more.
THE CANADIAN SECURITIES EXCHANGE HAS NOT VERIFIED AND DOES NOT ENDORSE THE ACCURACY OR COMPLETENESS OF THIS RELEASE.
FORWARD-LOOKING INFORMATION
Any predictive statements in this news release do not assure future results and involve known and unknown risks, assumptions, uncertainties, and other significant considerations. Many of these are outside the control of the Company, its directors, and its management.
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