66 Resources to Acquire Good Gamer

66 Resources (CSE:SXX), esports company announced that it plans to acquire esports marketing company, Good Gamer in a non-binding letter of intent (LOI). Terms of the deal are set to be finalized within 45 days, conditional in accordance with the LOI. In addition to the acquisition, 66 Resources announced that it is entering a non-brokered private placement of up to C$2.1 million to further finance the acquisition.

As quoted in the press release:

66 Resources Corp. (“66 Resources” or the “Company“) (CSE: SXX) is also announcing a non-brokered private placement (the “Offering“) of 6,000,000 common shares of the Company (“Common Shares“) at a price of $0.35 per Common Share for total gross proceeds of approximately $2,100,000 with an over-allotment option to increase the size of the Offering to approximately 8,571,500 Common Shares for gross proceeds of approximately $3,000,000. The Company intends to use the net proceeds of the Offering for working capital and for expenses incurred in connection with the Proposed Transaction. Completion of the Proposed Transaction is not a condition to completion of the Offering.

The Company may pay a cash finder’s fee on all or a portion of the Offering of six percent of the total proceeds and may issue finder’s warrants (each a “Finder’s Warrant“) equal to six percent of the number of Common Shares issued.  Each Finder’s Warrant will be exercisable for one Common Share for a period of 24 months following closing of the Offering at an exercise price of $0.35.  All securities issued pursuant to the Offering will be subject to a statutory four-month hold period.

Click here to read the full press release.