Midnight Gaming Corporation entered into a Letter of Intent to acquire Certain IP and Assets of TGS Esports Inc. for $18 million.

Midnight Gaming Corporation entered into a Letter of Intent to acquire Certain IP and Assets of TGS Esports Inc. (TSXV:TGS) for $18 million on May 3, 2024. Midnight will acquire TGS in return for common shares of Midnight worth $18 million. Midnight will also assume certain liabilities of TGS.

As contemplated in the LOI, completion is subject to certain conditions, including, without limitation, satisfactory completion of Due Diligence, Exchange approval, entry into and closing of a definitive agreement with shareholder approval.