Top Mexican Sports TV Network to Purchase $ 5 Million of Shares of Black Ridge Acquisition Corp.
Expanded Alliance Expected to Broaden Allied Exports Deployment into Latin America with Development of Dedicated Digital Exports Channel and Flagship Esports Venue
IRVINE, Calif .– (BUSINESS WIRE) –TV Azteca, in Grupo Salinas company and top sports television network in Mexico, and Black Ridge Acquisition Corp. (NASDAQ: BRAC), to public acquisition vehicle, today they have entered into a term sheet which would provide for TV Aztec to become a shareholder of Allied Esports, a global export entertainment company, through an equity investment in Black Ridge Acquisition Corp ..
As previously announced, Allied Exports and its sister company, the World Poker Tour®, both currently owned by Ourgame International Holdings Limited, will be acquired, once all applicable shareholder and regulatory consents have been obtained, by Black Ridge Acquisition Corp. to Allied form Esports Entertainment (the "Business Combination").
Highlights from the term sheet includes:
- TV Azteca acquiring $ 5 million in shares of Black Ridge Acquisition Corp .;
- TV Azteca and Allied Esports creating a 24-hour digital export channel dedicated to export and video gaming for the Mexican market;
- TV Azteca and Allied Esports developing a network of exporting talent across Mexico and Latin America.
- TV Azteca and Allied Esports building a flagship export venue and additional export and content facilities on the Mexican market;
- TV Aztec and Allied Exports producing and distributing co-branded export programming in the market; and
- Allied Esports developing a localized online export platform tournament for the market.
Completing the two issues of due diligence by June 27, 2019, the execution of definitive agreements between the parties documenting the obligations of TV Azteca to purchase the shares of Black Ridge and consummation of the Business Combination.
Allied Esports' emergence in the Mexican market with a multiplatform approach designed to reach current export sales fans and new consumers through TV Azteca's extensive network.
"Continued to expand our footprint around the world with likeminded leaders and innovators is imperative to our success, and we are delighted to partner with TV Aztec as we enter Latin America with a smart, aggressive plan," said Frank Ng, co-CEO of Ourgame, owner of Allied Esports. "The Mexican and Latin American market presents incredible potential, and this partnership, featuring two first-movers in exports, entertainment and distribution, is a winning combination."
In commenting on the new partnership, Benjamin Salinas, CEO of TV Azteca, added, “We are enthusiastic about our investment in the export industry and the prospects of joining forces to become the clear leader in the delivery of exports in the region. This relationship represents a transformational step for TV. Aztec and for the millions of members of the export community in Latin America. "
TV Azteca and Allied Esports will work towards developing Mexico's first 24-hour digital channel dedicated to esports and video game culture. The companies also set up a network of export talent, with expertise across all game genres and titles and with experience in additional forms of entertainment.
The parties intend to collaborate on the design and build a dedicated export venue, with a concept similar to HyperX Esports Arena Las Vegas, which will be designated as a flagship arena for their growing export footprint in Mexico. The company also develops additional regional properties for events and content production. The co-branded flagship and regional venues would join the Allied Esports Property Network, the first global affiliate program launched by Allied Esports in 2018.
TV Azteca and Allied Exports, which have previously been announced in May 2006 2019 with the launch of the original series NATION VS NATION. The live event and stream, which took place at Totalplay Forum in Mexico City on May 14 and was Allied Esports' first event and broadcast production in Latin America, featured 40 competitors in a USA vs. Mexico format playing PLAYERUNKNOWN'S BATTLEGROUNDS. The event broadcast in Mexico reached over 2 million consumers in the market.
"Following an exceptional test case with NATION VS NATION"We are confident in our combined ability to truly launch exporting to Mexico and Latin America at the highest level," said Rodolfo Ramirez, head of TV Azteca Sports. "We are committed to the success and growth of this partnership, and believe this endeavor has the opportunity to be our most popular entertainment platform yet."
Allied Esport intends to also work with TV Aztec to create a localized version of its proprietary global online platform, which was announced in December 2018 and is currently under development. The platform will focus on offering online products, including subscriptions, matching services, educational experiences and games.
Following a strategic agreement with Allied Esports' sister company, the World Poker Tour, which was signed in March 2019, social gaming and the mass broadcast of WPT poker content will begin this summer on TV Azteca platforms. The multiyear agreement will also be promoted via TV Azteca's multimedia network and other Grupo Salinas companies.
Assuming TV Azteca completes two diligences to its reasonable satisfaction by June 27, 2019 and the parties execute its definitive agreement for the transaction, TV Azteca would purchase $ 5 million of shares of Black Ridge Acquisition Corp. in the open market at or below the price Black Ridge trust account at closing of the Black Ridge trust account upon closing of the Business Combination. TV Azteca has agreed to the conversion of shares. Black Ridge would be the issue on TV, the Black Ridge would be the issue of the combination of the Black Ridge shares (10) shares that are purchased under the commitment and a warrant to purchase one ( 1) share of Black Ridge shares stock (2) shares purchased under purchase commitments. 8-K, which will be filed promptly and which can be obtained, without charge, on the Securities and Exchange Commission website (http://www.sec.gov).
About Grupo Salinas
Grupo Salinas (www.gruposalinas.com) is a group of dynamic, fast growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve living standards; social value, to create social capabilities to improve communities; and environmental value, by reducing the negative impact of business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. These companies include: Azteca TV (www.TVazteca.com; www.irtvazteca.com), Grupo Elektra (www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx), Punto Casa de Bolsa (www.puntocasadebolsa.mx), Totalplay (www.totalplay.com.mx) and Totalplay Empresarial (totalplayempresarial.com.mx). TV Azteca and Grupo Elektra trade on the Mexican Stock Exchange and part of its Sustainability Index. Each of the Grupo Salinas companies operates board of directors and shareholders independently with its own management. Grupo Salinas has no equity holdings. The group of companies share common vision, values and strategies for achieving rapid growth, superior results and world-class performance.
About Allied Esports
Named to Fast Company's World's Most Innovative Companies list for 2019, Allied Esports is a premier export company with a global network of dedicated exporting properties and content production facilities. Its mission is to connect players, streamers and fans via integrated arenas and mobile export trucks around the world that serves as both gaming battlegrounds and everyday content generation hubs. Allied Esports is a subsidiary of Ourgame International (SEHK: 899), owner of WPT Enterprises, Inc., the operator of The World Poker Tour®. Ourgame has entered into an agreement with Black Ridge Acquisition Corp. (NASDAQ: BRAC) to combine, once all applicable shareholder and regulatory consents have been obtained, Allied Esports Entertainment, Inc.
Through the Allied Esports Property Network, the first esports through affiliated relationships available to partners looking to open new export facilities around the world, Allied Esports' locations currently includes 11 properties in the top three export markets across the globe: North America's HyperX Esports Arena Las Vegas; HyperX Esports Truck "Big Meta"; Esports Arena Orange County and Esports Arena Oakland; Europe's HyperX Esports Big Betty Truck and HyperX Esports Studio in Hamburg, Germany; and China's Lianmeng Dianjing in Beijing, Lianmeng Dianjing SEG Arena in Shenzhen, Lianmeng Dianjing Tianjin Arena, Lianmeng Dianjing Gui'an Arena and Lianmeng Dianjing LGD Gaming Hangzhou Arena. The Allied Esports Property Network's 12th property, run by Fortress Esports, is expected to open in Melbourne, Australia in 2019. For more information about Allied Exports and its global network of properties, visit AlliedEsports.gg and follow @AlliedEsports.
About Black Ridge Acquisition Corp.
Black Ridge Acquisition Corp. is a special purpose acquisition company sponsored by Black Ridge Oil & Gas, Inc. (OTCQB: ANFC) for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets. Black Ridge Acquisition Corp. completed its initial public offering in October 2017, raising $ 138 million in cash proceeds.
21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to the proposed transactions between Azteca TV, Allied Esports and Black Ridge Acquisition Corp. Black Sea Acquisition Corp., the negotiation and execution of definitive agreements with the transactions between the parties, the purchase of shares of Black Ridge Acquisition Corp. by TV Azteca and achieving the desired results of the strategic alliance between the parties. Forward-looking statements may also relate to the business combination between Black Ridge Acquisition Corp. and Ourgame International Holdings Limited (the "Proposed Transaction") and any other statements relating to future results, strategy and plans of Black Ridge and Ourgame plans ”,“ expects ”or“ does not expect ”,“ estimated ”,“ is expected ”,“ budget ”,“ scheduled ”,“ estimates ”,“ forecasts ”,“ intends ”,“ anticipates ”or“ does not anticipate ", Or" believes ", or variations of such words and phrases or state that certain actions, events or results" may "," could "," would "," might "," projects "," will "or" will be taken ”,“ occur ”or“ be achieved ”). Forward-looking statements are based on opinions and management estimates of Black Ridge or Ourgame, as well as the case may be, as well as known, unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. For Ourgame, these risks and uncertainties include, but are not limited to, its revenues and operating performance, general economic conditions, industry trends, legislation or regulatory requirements affecting the business in which it is engaged, management of growth, its business strategy and plans , the result of future financing efforts and its dependence on key personnel. For Black Ridge, factors include, but are not limited to, the successful completion of the business combination, the amount of redemptions and the ability to retain key personnel and the ability to achieve stockholder and regulatory approvals. Black Ridge's performance to differ materially is included in Black Ridge's definitive proxy for the Combined and Black Ridge's other periodic reports filed with the SEC, including but not limited to Black Ridge's Form 10-K for the year ended December 31, 2018. Copies may be obtained by contacting Black Ridge or the SEC. Readers are cautioned to place undue reliance upon any forward-looking statements, which speak only as of the date made. These statements are made only as a result of the date hereof, and Black Ridge undertake no obligations to update or forward the statements, whether as a result of new information, future events or otherwise, except as required by law.
No Offer or Solicitation
This communication is for informational purposes only, nor is it a solicitation of any vote, consent, or approval in any jurisdiction pursuant to or in connection with the business combination or otherwise, nor is there any sale, issuance or transfer of securities in any jurisdiction in applicable law.
Participants in Solicitation
Black Ridge and Ourgame, and their respective executive directors and executives, may be considered in the solicitation of proxies of Black Ridge stockholders in respect of the Business Combination. 10, 31 for the year ended December 2018, XNUMX . Information about the executive director of Ourgame and more detailed information regarding the identity of potential participants, and their direct and indirect interests, by security holdings or otherwise, is set forth in Black Ridge's definitive proxy statement. Investors may obtain additional information on these interests www.sec.gov.
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