Item 1.01 Entry into a Material Definitive Agreement
On September 15, 2021, Gogawi Entertainment Group Limited ("Gogawi"), a wholly
owned subsidiary of Esports Technologies, Inc. (the "Company"), entered into a
Software License and Services Agreement (the "License Agreement") with AG
Software Limited, a company incorporated under the laws of Malta ("Aspire").
Pursuant to the License Agreement, the software platform underlying the
Company's Gogawi.com website will migrate to the Aspire platform estimated by
January 31, 2022. Concurrent with this migration, Aspire's iGaming Solution will
be licensed to Gogawi for use on Gogawi.com, provided that Gogawi has obtained
all required regulatory licenses for such use. The License Agreement includes
certain one-time payments related to the migration of the platform for the
Gogawi.com website, as well as ongoing revenue sharing arrangements based on
certain net gaming revenue share definitions. The initial term of the License
Agreement is for five years, and thereafter the License Agreement will continue
for renewable three-year periods, provided that either party can terminate the
agreement on 180 days' notice prior to the end of the initial period or any
renewal period.
Item 7.01 Regulation FD Disclosure
On September 20, 2021, the Company issued a press release to announce the
strategic license agreement with Aspire.
A copy of the press release is attached to this report as Exhibit 99.1 and is
incorporated by reference herein.
The information contained in Item 7.01 of this Current Report on Form 8-K,
including Exhibit 99.1, is being furnished and shall not be "filed" for the
purpose of the Securities Exchange Act of 1934, as amended ("Exchange Act"), nor
shall it be incorporated by reference in any filing under the Exchange Act or
the Securities Act of 1933, as amended ("Securities Act"), unless specifically
identified therein as being incorporated by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press release dated September 20, 2021
104 Cover Page Interactive Data File (formatted in IXBRL, and included in
exhibit 101).
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