Backstageplay Inc. and eUnited eSports Inc. Mutually Terminate Merger Agreement
Vancouver, British Columbia--(Newsfile Corp. - November 2, 2020) - Backstageplay Inc. (TSXV: BP) (FSE: DOZC) (OTC Pink: PRYNF) (the "Company") announces today that the Company and eUnited eSports Inc. ("eUnited") have mutually terminated their previously announced Merger Agreement pursuant to which the parties were expected to complete a merger transaction (the "Transaction"). Due to difficult market conditions, exacerbated by the economic uncertainty of COVID-19, the Company and eUnited determined they would not be able to consummate the Transaction with the associated conditions at this time. The Company and eUnited have agreed to continue discussions as to commercial and strategic alternatives through which they can forge a continuing relationship. The Company and eUnited remain excited about the potential synergies between esports and social gaming and remain committed to exploring such opportunities.
About Backstageplay Inc.
Backstageplay, Inc. is an online and mobile entertainment and marketing company, engaged in the business of social gaming and retention software and services. For further information, please visit the Company's website at www.backstageplay.com.
About eUnited Inc.
eUnited is a competitive North American based professional eSports organization. eUnited currently has four highly competitive teams and with multiple tournament victories and world championships, eUnited is one of the leading eSports brands in the space today. For further information, please visit the Company's website at www.eunited.gg.
For Further information, please contact:
Scott White, Chief Executive Officer
1 (416) 704-6611
Sean Hodgins, Chief Financial Officer
1 (778) 318-1514
Adam Stein, Chief Executive Officer
1 (844) 377-6789
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information Disclaimer
This press release contains certain forward-looking information and statements that reflect the current view and/or expectations of management the Company based on information currently available to the them with respect to performance, business and future events, including, but not limited to, express or implied statements and assumptions regarding the parties' mutual intention to complete the transactions, including but not limited to the Transaction, as contemplated in the Agreement and regarding the terms and conditions relating thereto. The use of any of the words "may", "could", "would", "might", "intend", "plan", "expect", "believe", "contemplate", "anticipate", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and statements and are based on current expectations, beliefs, and assumptions. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which are difficult to predict, such that actual future results and outcomes may differ materially therefrom. Accordingly, the reader should not place undue reliance on forward-looking statements and information in this press release, which are qualified in their entirety by this cautionary statement.
The forward-looking statements in this news release are made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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