TORONTO, March 3, 2022 – Wondr Gaming Corp. (CSE: WDR) (CSE: WDR.WT) (the “Company” or “Wondr Gaming“) is pleased to announce that, further to its press releases dated October 22 and February 17, 2022 (the “Press Releases“), it has completed the previously announced acquisition (the “Transaction“) of all of the issued and outstanding common shares of Joybox Media Inc. (“Joybox“). As consideration for the Transaction, the Company issued on closing 3,333,332 common shares in the capital of the Company at a deemed price per Common share of $0.15 and having a value of $500,000 (the “Consideration Shares“) and a closing cash payment of $131,526 in the aggregate.
All Consideration Shares issued in connection with the acquisition of JoyBox are subject to a four-month and one day resale restriction and to a 27-month voluntary escrow between the selling shareholders of JoyBox and the Company, with the first release of 25% of the escrowed shares to be released 18 months from the Closing Date.
For further information on the future consideration that may be payable on future milestones of JoyBox please see the Press Releases.
“We are very excited to embark on this journey with Wondr Gaming, as we continue to tap into Gen-Z entertainment through gaming, lifestyle, NFTs, and more. JoyBox builds thriving online communities through scalable content and along with Wondr’s assets – we see endless opportunities to continue to differentiate ourselves and to build at the forefront of digital media in 2022 & beyond.” – Sam Park and Kamar Burke, co-founders of Joybox.
“JoyBox, a Shorty Award nominated short-form video content studio, has produced campaigns for global brands including Wondr’s recent Samsung partnered ‘Call of Duty’ stream, with NBA All-Star & Wondr director of strategic athlete engagement, Fred Vanvleet. Joybox will provide a new revenue stream for Wondr, while enhancing our in-house production capabilities for the content Wondr curates and hosts across GameLancer’s 20+ owned and operated channels, featuring over 1 billion monthly views and 26,000,000+ followers.” – Jon Dwyer, Chairman and Chief Executive Officer of Wondr Gaming.
About Joybox Media Inc.
JoyBox Media is a media network and marketing agency that focuses on the intersection of culture and technology. JoyBox provides best-in-class services working with celebrities, brands, and creators to create meaningful communities across digital through paid media, influencer campaigns, and viral content.