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X1 Esports Completes Acquisition Of Rocket League Community Assets, Octane.GG, The Canadian Business Journal

Acquisition of Octane aims to expand X1Global Rocket League Video Game Portfolio and Reaching Gen Z Audiences

  • The deal is expected to strengthen X1’s position in the video game media and add Octane’s social media followers and stats platform to http://Octane.GG.
  • Rocket League averages over 80 million monthly players worldwide1
  • The acquisition is X1’s third post-IPO acquisition after the completion of the Tyrus LLC acquisition was announced on August 5.th ShiftRLE on August 10, 2022th 2022.
  • Octane is expected to be integrated into Shift, creating a new destination for Rocket League fans.

VANCOUVER, British Columbia, October 4, 2022 (GLOBE NEWSWIRE) — X1 Esports and Entertainment (CSE: XONE; OTCQB: XOEEF; FSE: ZI0) (“X1” or “Company”), a video game and media portfolio company Owns and operates esports assets.thin 2022, completed the acquisition of the assets that make up Octane.GG (“Octane”), an online statistics and news outlet focused on the popular video game Rocket League.

In connection with the acquisition of the assets that make up Octane’s business, we have entered into consulting agreements with two individuals. As consideration for the acquisition of Octane’s business-endangering assets, the Company will pay his US$35,000 cash purchase price, of which US$17,500 will be due in connection with the closing of the acquisition and US$17,500 will be due within 45 days. is. The day after the deadline.

We are very pleased to have completed the Octane acquisition. ” X1 CEO Mark Elfenbein said: “As Rocket League continues to grow in popularity worldwide, having multiple assets within this Esport will allow us to create a comprehensive Rocket League destination site that includes breaking news, stats, video highlights and fantasy sports. can be launched.”

Octane Related Information

Octane is the leading stats platform for Rocket League Esports, providing detailed match stats for the top events in the field. Since its launch in 2017, Octane has collected data from hundreds of thousands of games and thousands of players, teams, and events. As Rocket League’s primary source of stats, Octane compiles invaluable data on the history and evolution of players and teams from their freshman days to the world stage. The platform allows fans to check-in live and see how their favorite players and teams are performing during games, while coaches and commentators use the data to draw better conclusions and tell stories about player and team trends. can be created. Octane’s robust filter set and comprehensive data make it an unparalleled resource for the large community of Rocket League esports fans.

As explained in X1’s previous news release dated July 25, 2022, the company will utilize Octane’s Rocket League statistics database when launching future products, including a potential Rocket League fantasy product. I hope you will.

Officer changes

We also announce that Jan Hoffmann has resigned from our Board of Directors (“board”) and as Chief Executive Officer of our wholly owned subsidiary RixGG Europe Ltd., which holds and operates our RixGG esports team. We thank Mr. Hoffmann for his contributions to our company and wish him well in the future. The current Director of the Company, Latika Prasad, has been appointed CEO and Board of Directors of RixGG Europe Ltd. and will oversee the operations alongside X1 CEO Mark Elfenbein.

Samantha Shorter has been appointed to fill a vacancy on the Board of Directors. In connection with her appointment to the Board, Ms. Shorter resigned as Chief Financial Officer of the Company and Bobby Dhaliwal was appointed as Chief Financial Officer of the Company.

Samantha Shorter

Mr. Shorter most recently served as X1’s Chief Financial Officer and has over a decade of experience providing reporting, assurance and accounting services to publicly traded companies, including technology companies. She left her official duties in 2011 to work as Audit Manager for Davidson & Company LLP, a leading Canadian accounting firm, after which she has held various leadership roles. Her knowledge of governance and accounting facilitates effective implementation and monitoring of financial reporting, management, internal control development and budgeting. Ms. Shorter graduated from Columbia University with honors and a Bachelor of Commerce degree. She is a Certified Public Accountant (CPA, CA) and Certified Internal Auditor.

Bobby Dhaliwal

As a financial consultant, Mr. Dhaliwal has worked for many TSX-V and CSE listed companies in the resource and technology sectors, including CFO and controller roles. These companies are based in Canada and have various international operations. His professional experience includes assisting with initial public offerings, ongoing disclosure and financial reporting, implementing accounting software, various equity financings, and implementing internal control policies. Mr. Dhaliwal graduated from Langara College in Vancouver with a BA in Accounting.

Rocket League Related Information

Rocket League is the world’s leading esports2A five-minute game featuring non-stop action, the car soccer hybrid game has seen significant growth in players across demographics since its launch, with active players now averaging We have 80 million players.3.

About X1

X1 Esports and Entertainment Ltd. is a gaming and entertainment company that helps connect brands with Gen Z and Millennial audiences around the world through a diverse portfolio of assets that includes esports teams, talent management agencies and other integrated media assets. We are an entertainment company. The company’s assets lie in his three main areas: media and networks, the creator economy, and games and esports. X1 continues to build on its existing asset portfolio through a combination of organic growth and increasing M&A.

For more information, please contact:

Mark Elfenbein

Representative Director and President

[email protected]
www.X1E Sports

Future outlook:

Certain information in this news release may contain forward-looking statements that involve significant known and unknown risks and uncertainties. Forward-looking statements are often identified by words such as “will,” “may,” “should,” “expect,” “anticipate,” or similar expressions . All statements other than statements of historical fact contained in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Information about Octane’s ability to integrate with ShiftRLE, or at all, and the expected synergies between ShiftRLE and Octane (including enabling Rocket League’s fantasy sports options to be offered), Rocket It includes the continued growth and popularity of the league. , the growth of ShiftRLE (integration with Octane), the establishment of his ShiftRLE as a long-lasting multimedia company in the field, and the revenue attainment by ShiftRLE. Significant factors that could cause actual results to differ materially from our expectations include failure to meet the requirements of relevant stock exchanges and are detailed in our securities regulatory filings from time to time. Other risks include market changes. and industry conditions, the ability of each of X1 and Octane to execute their respective business strategies, including plans to integrate Octane and ShiftRLE, the continued relevance of Octane’s media capabilities, competitive conditions, adverse industry events, necessary availability of capital and financing according to Readers are cautioned that the assumptions used in preparing forward-looking information may prove to be incorrect. Due to events and circumstances, actual results may differ materially from those projected as a result of a number of known and unknown risks, uncertainties and other factors. Readers are cautioned not to place undue reliance on forward-looking information. Although such information was believed to be reasonable by management at the time it was prepared, it may prove to be inaccurate and actual results may differ materially from expectations. Any forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and we do not intend to update or revise such information, except as required by applicable law. or disclaim any obligation.

1 “Rocket League: Rocket League Live Player Counts and Statistics,” Active Players, https://activeplayer.io/rocket-league/ (accessed 22 July 2022).
2 “Top 15 Most Popular PC Games of 2022,” Active Player, https://activeplayer.io/top-15-most-popular-pc-games-of-2022/ (July 22, 2022 access).
3 See Note 1.

CBJ Newsmaker

X1 Esports Completes Acquisition Of Rocket League Community Assets, Octane.GG, The Canadian Business Journal

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