Brand X Lifestyle Corp. Provides Update on FansUnite Entertainment Inc. Investment
Vancouver, British Columbia--(Newsfile Corp. - July 8, 2020) - Brand X Lifestyle Corp. (CSE: BXXX) ("Brand X" or the "Company") would like to share developments on its investment in FansUnite Entertainment Inc. ("FansUnite" or "Fans"). FansUnite went public on the CSE on May 5th, 2020. FANS is a sports and entertainment company, focusing on technology related to regulated and lawful online sports betting and other related products. The principal business is operating the FansUnite Sportsbook and the website of its wholly-owned subsidiary, McBookie Ltd., offering online gaming services to the U.K. market. FansUnite is also a provider of technology solutions, products, and services in the gaming and entertainment industry and looks to acquire technology platforms and assets with high-growth potential in new or developing markets.
On June 22, 2020, FansUnite announced it has entered into a definitive amalgamation agreement with Askott Entertainment, to create one of Canada's leading online gaming companies, focused on sports betting, e-sports wagering and casino games. This is a significant milestone for FansUnite and allows the two organizations to integrate and offer multiple B2C platforms for users in a variety of betting offerings. B2B technology that has the capability to license various types of sportsbooks, and an industry-leading team of executives that have led and grown multiple organizations on a global scale. Under the terms of the agreement, FansUnite will acquire all of the outstanding securities of Askott by way of a three-cornered amalgamation.
"Our journey as a public listing has been nothing short of an exciting one", said Darius Eghdami, Co-Founder, CEO, and Chairman of FansUnite Entertainment. "The team at Fans has reached significant milestones in a few short months from our Go-Public in May, the acquisition of McBookie, UK's leading sportsbook, adding global gaming talent to our board of directors, and most recently our definitive agreement to acquire Askott Entertainment. We look forward to continuing our growth strategy and developing Canada's leading online iGaming company."
In addition to pursuing an aggressive growth strategy, FansUnite announced it had received approval from the Depository Trust Company to make their shares eligible on the OTC and allowing United States investors to clear their trades seamlessly under the ticker "FUNFF".
About Brand X Lifestyle Corp.
Brand X is an investment issuer that actively invests in a diversified portfolio of early-stage to mid-level companies. Brand X leverages its extensive network of operators and global thought leaders to provide investors with unparalleled access to investments that are not normally accessible to the average retail investor. In addition to Ag Tech and Mining Tech IP, the Brand X portfolio now includes IP within the Global Hemp Consumer Brand vertical. Brand X provides capital, experience, and support to emerging market leaders in the progressive health, wellness, and technology spaces while building shareholder value.
Arni Johannson, CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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