LEAF Mobile is acquiring Vancouver’s East Side Games for $150 million.
East Side Games (ESG) is a leading publisher and developer of mobile games. Founded in 2011 by game industry veterans, it has created chart topping hits for top Hollywood brands as well as Canadian superstars The Trailer Park Boys.
According to the today’s reverse takeover announcement, LEAF will acquire ESG for $150 million, the payment of which will be comprised of $50 million in cash, and that number of LEAF common shares that will represent 50% of the issued and outstanding LEAF shares on closing.
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Completion of the acquisition is conditional upon, among other things, LEAF obtaining conditional approval from the Toronto Stock Exchange to list the LEAF shares for trading on that exchange.
ESG is currently a “control person” of LEAF by virtue of holding more than 20% of the issued and outstanding LEAF shares. As such, completion of the acquisition will be subject to, among other things, LEAF obtaining all necessary shareholder approvals.
Headquartered in Vancouver, LEAF (TSXC: LEAF) is focused on creating highly engaging games that produce enduring player enjoyment. LEAF’s management team includes Darcy Taylor, Mark Leung, Jason Bailey, Brian Wideen, Derek Lew, and Mike Edwards.