Non-Binding Letter of Intent to Acquire Gamelancer TORONTO, Dec. 20, 2021 /PRNewswire/ - Wondr Gaming Corp. (CSE: WDR) (CSE: WDR.WT) (the "Company" or "Wondr Gaming") is pleased to announce it has recently entered a non-binding Letter of Intent with Gamelancer, Inc. ("Gamelancer") to acquire all of the issued and outstanding securities of Gamelancer in exchange for USD$10 million of cash, with $7.5 million payable on closing and a further $2.5 million payable one year from the date of closing, and the issuance of common shares of Wondr representing forty-nine percent of the Company on a post-transaction basis.
Each party is conducting its respective due diligence and the contemplated transaction remains subject to approval by the board of directors of each party and regulatory approval. Subject to the completion of each company's due diligence to its sole satisfaction, the parties will negotiate and proceed to enter into a definitive agreement outlining the terms and structure of the transaction. The final transaction structure will be determined after each party has had the opportunity to receive legal, accounting and tax.