Consulting services to continue as Champion Gaming looks to scale its premium consumer media and content offerings
Louisville, Kentucky--(Newsfile Corp. - March 3, 2022) - Champion Gaming Group Inc. (TSXV: WAGR) (formerly, Prime City One Capital Corp.) ("Champion Gaming" or the "Company"), announced today that EdjSports LLC ("EdjSports"), Champion Gaming's premier sports intelligence subsidiary that leverages its predictive and prescriptive analytical models and win probability applications, has renewed a contract with one of its key customers (the "Customer"). The renewal agreement marks a continuation of specialized consulting services provided by EdjSports related to the development of model and code enhancements, a copy of which is owned by the Customer and is being used in sports market making services. The agreement provides for a one-time cash payment of $445,243 upon execution, which includes a portion of fees for services provided in the normal course and a portion of fees for the transition and solicitation of certain EdjSports employees by the Customer over the first half of the year. The term of the agreement shall run through the earlier of February 11, 2023 or the date at which EdjSports and Customer mutually agree the transition is complete.
"This renewal agreement is a testament to the capabilities of the EdjSports team," said Ken Hershman, Champion Gaming's Co-Founder and CEO. "We are excited about the opportunity to continue providing specialized consulting services in the near-term, while at the same time being able to continue to strengthen our consumer-facing capabilities."
The Company also announced that it has granted 250,000 stock options to purchase common shares of the Company exercisable until February 8, 2023 at a price of $0.30 per common share to a consultant of the Company. The common shares issuable upon exercise of the stock options are subject to a four-month hold form the original date of grant.
About Champion Gaming
Champion Gaming is a sports content, data and analytics company that provides predictive and prescriptive analytical models and win probability applications and statistics in the sports industry for teams, media, fans, and bettors. The sports analytical and data solutions currently offered by Champion to its customers include a fully customized probability engine, interactive sports matchup models, spread and over/under distributions and sports statistics and historical data statistics.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance of the Corporation. The use of any of the words "could", "intend", "expect", "believe", "will", "may", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the ability of the Corporation to successfully manage the risks inherent in pursuing business opportunities in the online gaming industry, and the ability of the Corporation to obtain qualified staff, equipment and services in a timely and cost-efficient manner to develop its business, the state of the capital markets, and the impact of the COVID-19 pandemic. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. Forward-looking information necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Such risks and factors include, but are not limited to, the risk that the Corporation's management is unable to obtain qualified staff, equipment and services in a timely and cost-efficient manner to develop its business. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
For further information, please contact:
HPL Digital Sport
VP of Communications
Champion Gaming Group Inc.
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