Aquilini GameCo to Acquire Luminosity Gaming for $25 million

J55 Capital (TSXV:FIVE.P), announced that Aquilini GameCo completed over $25 million in financing with plans to acquire Luminosity Gaming in a proposed reverse takeover. Luminosity, based in Toronto, Canada provides support services to the esports industry.

As quoted in the press release:

The Target raised gross proceeds of $25,000,200 pursuant to the Target Financing. The Target intends to use the proceeds of the Target Financing for the acquisition of Luminosity Gaming Inc. (“Luminosity Canada”) and Luminosity Gaming (USA), LLC (which together with Luminosity Canada, is herein referred to as “Luminosity”), for strategic growth initiatives, working capital and general corporate purposes. Luminosity is a globally recognized esports organization operating in North America and based in Toronto, Canada. Luminosity provides management and support services to players involved in professional gaming. Luminosity also manages and provides support services to the Vancouver Titans, which recently commenced its first season of competition in the Overwatch League, an esports competition with 20 teams across six countries and three continents, all centered on the popular first-person shooter game Overwatch.

Click here to read the full press release.