Esports entertainment and events company TGS Esports has signed a letter of intent to acquire fighting game tournament organiser Even Matchup Gaming (EMG) for CAD$1.1m (~£635,600).
EMG owns and operates Canadian fighting game event Get On My Level (GOML) and New York-based Super Smash Bros tournament Let’s Make Moves.
TGS will acquire all of EMG’s issued and outstanding shares if the acquisition is successful. The purchase will be paid via the issuance of up to 5,500,000 TGS common shares to EMG at a deemed price per share of CAD$0.