An unknown buyer entered into a letter of intent to acquire Frenzy sp. z.o.o. and Auto Simulation Ltd from ESE Entertainment Inc. for CAD 41 million.

An unknown buyer entered into a letter of intent to acquire Frenzy sp. z.o.o. and Auto Simulation Ltd from ESE Entertainment Inc. (TSXV:ESE) for CAD 41 million on March 28, 2023. The consideration for the acquisition of DMS and Frenzy is currently anticipated to be paid in common shares.

The completion of the Transaction remains subject to a number of conditions including satisfactory due diligence, the receipt of structuring advice by the parties, approval of the board of directors of each of the parties, entry into a binding agreement, the receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange and the NASDAQ, and other conditions customary to transactions of this nature.