ProSmart to Acquire DL Hockey in China
Momentum Public Relations
Press Release: March 5 2018
ProSmart Enterprises Inc. (TSXV:PROS) (“ProSmart” or the “Company”), a global online network, connecting sports fans, teams and brands, announces it has entered into a binding agreement (the “Agreement”) to acquire all of the issued and outstanding shares of DL Hockey Consulting (Shenzhen) Limited and DL Hockey Consulting Limited (combined, “DL Hockey” and the “Acquisitions”). DL Hockey operates a hockey club and skills camps in China, where 650 skating rinks are being built as part of its winter sports development plan in the run up to their hosting of the 2022 Winter Olympics. Of additional note, DL Hockey has built a national network of key hockey development relationships in China, which is one of the world’s largest and fastest-growing sports markets.
News Highlights
- ProSmart is acquiring DL Hockey – a well-established brand and operator of a hockey club and skills camps in China
- China is building 650 skating rinks in preparation for the 2022 Olympic Winter Games
- Chinese sports industry estimated to more than triple its US$223B (2016) value by 2025 (Bank of China report, 2017)
- Acquisition will provide ProSmart with instant access to China’s hockey community and industry as part of a trusted, established brand
ProSmart, which provides unprecedented access to the $1.3 trillion sports industry, works with over 1,500 governing bodies in more than 100 countries. With this acquisition, the Company will have successfully expanded its network into the Chinese sports market which, according to a 2017 Bank of China report, was estimated to be worth 1.5 trillion yuan (US$223 billion) in 2016 and on track to reach 5 trillion yuan by 2025.
Alan Schuler, Co-founder and CEO, states, “This is a highly-strategic deal which comes at a time when China’s Winter Olympics development plans have sent the sports industry into overdrive. DL Hockey has a strong, established presence in China and has built a tremendous reputation. This acquisition allows us to quickly and seamlessly integrate with China’s hockey community and industry which is expanding at an incredible rate. With over 65% of the population identifying themselves as sports fans, China has one of the largest sports markets in the world. With ProSmart’s global online network, unique content and unprecedented marketing platform, this acquisition has the potential to deliver considerable value for ProSmart shareholders and is part of our push into the Chinese market.”
ProSmart will retain the DL Hockey School brand and run hockey development programs under this banner. The company is now well positioned to leverage the momentum and credibility built by DL Hockey to expand ProSmart programs nationally in conjunction with the rapidly-growing community of rink developers and burgeoning hockey markets in China.
Says Doug Lynch, founder of DL Hockey, “I am extremely excited about joining the ProSmart family. The vision that Alan and senior management have created, aligns with my beliefs on the importance of youth sports for children of all ages. In a short time, I have truly connected with the players in our club, their families, as well as the Chinese culture. I remain dedicated to growing, not only hockey, but all other sports in China. The ProSmart learning platform is revolutionizing youth sports as well as training youth coaches and I feel grateful to be a part of the journey.”
About the Acquisitions
DL Hockey was founded by, and is wholly-owned by Doug Lynch, a former professional hockey player. DL Hockey has developed a national network of key hockey development relationships dedicated to the growth of hockey in China. With an impeccable reputation for operating highly effective hockey development camps, DL Hockey is a leading hockey growth organization in China.
Upon completion of the Acquisitions, Doug Lynch will join ProSmart as Vice President of Business Development in China and will be responsible for strategic leadership and operations of the Company’s China operations, including the growth of DL Hockey Schools nationally. Part of his compensation will be tied to a number of pre-established performance metrics.
Doug Lynch will collaborate with arena development partners to position ProSmart as the leading hockey development system in China. He will also collaborate with sponsors, brands, growth partners, and develop revenue opportunities designed to increase the growth of DL Hockey, ProSmart’s Chinese brand and ProSmart Enterprises Inc., its Canadian parent company.
The Agreement was signed on February 27, 2018 and the Acquisitions are expected to close on March 15, 2018 (“Closing”) and is subject to the approval of the TSX Venture Exchange and ProSmart’s Board of Directors. The purchase price is US$86,250 payable in ProSmart common shares (“Shares”) at a Share price equivalent to the ten (10) trading day volume-weighted average closing price of the Shares on the TSX Venture Exchange immediately prior to the public announcement of this Agreement. The Shares will be held in escrow or in a pooling agreement and will be released in equal quarterly installments over the 36 months following closing of the acquisition. The first installment will be released at Closing. This is an arms-length transaction with no finder’s fees involved.
Further Information About the Chinese Sports Market
The Chinese sports market is a massive opportunity for ProSmart:
- In a national strategy spearheaded by the General Administration of Sport, China plans to build 100 towns dedicated as centers of sporting excellence for various disciplines in coming years.
- According to market consultancy, Analysis, the total revenue generated from sponsorship, broadcasting and fan spending on winter sports events is expected to reach 160 billion yuan (US$26 billion) by 2025.
On behalf of ProSmart Enterprises Inc.
Alan Schuler
Co-Founder & Chief Executive Officer
About ProSmart Enterprises Inc.
ProSmart (TSX-V:PROS) is a global online network connecting sports fans, teams and brands and is an emerging leader in sports content marketing through online tools and mobile apps. ProSmart works with over 1,500 governing bodies in more than 100 countries and provides unprecedented access to the $1.3 trillion sports market through its proprietary marketplace engine. ProSmart is also the first-and-only company to provide educational content created exclusively by hall-of-fame and professional athletes, which has been a key driver in building the company’s online network and connecting with youth, amateur and professional sports fans and players. ProSmart is a publicly traded company listed on the TSX-V.
For more information on ProSmart and its platforms, please visit the following links:
ProSmart Inc.: http://prosmartinc.com
RosterBot Inc.: http://rosterbot.com
ProSmart Hockey: http://prosmarthockey.com
ProSmart Football (Soccer): http://prosmartfootball.com
Stay connected with ProSmart by following us on:
LinkedIn ( www.linkedin.com/company/prosmartsports )
CrunchBase ( www.crunchbase.com/organization/prosmart-sports-development-inc )
AngelList ( www.angel.co/prosmart-sports-development )For further investor information please contact:
Ty Summach, Chief Operating Officer
t: 1-844-927-6278 ext. 103
e: investment@prosmartsports.com
The shares of ProSmart Enterprises Inc. trade publicly on the TSX Venture Exchange under the symbol TSXV:PROS.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
To view the associated document to this release, please click on the following link:
public://news_release_pdf/ProSmart03052018.pdf
To view the original release, please click here
Source: ProSmart Enterprises Inc. (TSX Venture:PROS, FWB:1R6)
To follow ProSmart Enterprises Inc. on your favorite social media platform or financial websites, please click on the icons below.
- Published in Prosmart Enterprises
St-Georges Eco-Mining Provide Corrections to February 26, 2018 News Release: St-Georges Eco-Mining Subsidiary ZeU Crypto Signs Definitive Agreement with Tiande
Momentum Public Relations
Press Release: February 27
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) This document corrects and replaces the press release that was issued by St-Georges Eco-Mining Corp. (CSE: SX) today, February 26, 2018 at 11:56:26 AM EST. The error occurred in the paragraph three (3) where it should have read “75,000,000 common share purchase warrants” instead of “150,000,000” and “an additional 10,000,000 Shares” instead of “75,000,000”, the whole as a corrected copy below.
St-Georges Eco-Mining Subsidiary ZeU Crypto Signs Definitive Agreement with Tiande
-FOR IMMEDIATE RELEASE-
Montreal, February 26, 2018 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announces that, further to its January 15 and February 8, 2018 press releases, its wholly owned subsidiary ZeU Crypto Networks Inc. (“ZeU”) has signed a definitive asset purchase agreement dated February 23, 2018 with Qingdao Tiande Technologies Limited (“Qingdao”) and Beijing Tiande Technologies Limited (“Beijing” and together with Qingdao, the “Vendors”) with the intervention of Guiyang Tiande Technologies Limited to purchase substantially all the intellectual property of the Vendors (the “Acquisition”).
The following are the material terms of the agreement:
-ZeU will acquire the Vendor’s intellectual property (including without limitation, all intellectual property and patent applications directly or indirectly related to the Blockchain and smart contract technologies of the Vendors (the “Blockchain Technology”), including without limitation, BigData, IoB, Sandbox) (the “IP”)
-the Vendors will complete: (i) the transfer and successful employment by ZeU of all key employees; (ii) the transfer and assignment of all the IP to ZeU; (iii) the obtaining of all regulatory approvals should they be required; and (iv) the obtaining of all required consents including all consents from clients and collaborators pursuant to the existing contracts of the Vendors (the “Milestone Conditions”)
-ZeU, the Vendors and key collaborators will enter into a license agreement and non-competition covenant which will provide, among other things, that ZeU shall irrevocably grant a perpetual , exclusive, transferable and sub-licensable license to the Vendors for use of the Blockchain Technology in China, Hong Kong and Taiwan
-ZeU will have completed or caused to be completed prior to the Closing Date a debenture financing of not less than $10,000,000 and up to $30,000,000 (the “Concurrent Financing”)
The purchase price for the Acquisition shall be up to 150,000,000 common shares of ZeU (each a “Share” and 75,000,000 Share purchase warrants (each a “Warrant”) to the Vendors, satisfied by (i) the delivery of a total of 65,000,000 Shares and 75,000,000 Warrants on the closing date of the Acquisition (the “Closing Date”), (ii) to the extent and only if all of the Milestone Conditions (as defined hereinabove) are satisfied, the delivery of an additional 10,000,000 Shares, within 3 Business Days following the satisfaction of the Milestone Conditions or the Closing Date (whichever is later) and (iii) to the extent and only if twenty (20) new patents pertaining to the Blockchain Technology are issued (the “Patent Condition”), the delivery of an additional 75,000,000 Shares, within 3 Business Days following the satisfaction of the Patent Condition.
Each Warrant will be exercisable at a price equal to the conversion price pursuant to the Concurrent Financing for a period of three (3) years following the date ZeU completes a transaction pursuant to which its Shares will either be listed on a recognized stock exchange in North America, or will be exchanged for common shares of a reporting issuer listed on a recognized stock exchange in North America.
The agreement was negotiated at arm’s length, and contains customary representations, warranties and closing conditions.
On closing of the Acquisition, Dr. Wei Tek Tsai is to join ZeU’s management as Chief Technology Officer.
The Acquisition remains subject to requisite regulatory approval and satisfaction of closing conditions contained in the agreement.
The Acquisition remains subject to a number of conditions as set forth in the agreement, including (without limitation), the completion of the Concurrent Financing (as defined hereinabove), the receipt of all requisite regulatory approvals and satisfaction of closing conditions contained in the agreement.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, PRESIDENT & CEO
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
- Published in St-Georges Eco-Mining, Uncategorized