TORONTO, July 14 2021 (GLOBE NEWSWIRE) – OverActive Media Corp., formerly Abigail Capital Corporation, (âOverActiveâ or the âCompanyâ) (TSXV: OAM), a global esports and entertainment company, is pleased to announce that its common shares will begin trading today on the TSX Venture Exchange (the âTSXVâ) under the symbol âOAMâ.
On July 9, 2021, the Company completed its qualifying transaction (as defined in policy 2.4 of the TSX Venture Exchange) with OverActive Media Corp., now called OverActive Media Holdings Corp. and is a wholly owned subsidiary of the Company. The Company has received final approval from the TSX Venture Exchange for the transaction. For more information regarding the transaction, please refer to the OverActive filing statement available under the company profile at www.sedar.com.
Based in Toronto, with offices in Madrid and Berlin, OverActive has five esports teams in four of the world’s biggest leagues. In less than three years, the company has raised more than C $ 100 million from a cross-section of established investors and brands, professional athletes and artists, including early Bell investors, Westdale Properties, Ov2 Capital, The Weeknd, Mitch Marner (NHL), Phil Kessel (LNH), Carl Hagelin (LNH) and Les Canadiens de MontrÃ©al.
“We are building a leader 21st sports, media and entertainment company of the century with esports at its heart, âsaid Chris Overholt, President and CEO of OverActive. âToday marks an exciting and important milestone as investors can now easily own a portion of OverActive, a leader in the rapidly growing global esports and entertainment industry. I am proud to be part of a board of directors and a management group with a common commitment to generate sustainable value creation for our shareholders and enthusiasm for our fans.
OverActive previously announced plans to build a new landmark, on the historic CNE grounds in Toronto, which is set to become the future home of two of its professional esports franchises (Toronto Defiant and Toronto Ultra), as well as cultural and musical programming.
The Company also announces that, subject to the approval of the TSX Venture Exchange, it has retained the services of Generation IACP Inc. (âGenerationâ) to provide market making services and has engaged Virtus Advisory Group Inc. (“Virtus”) to provide investor relations services on behalf of the Company.
Generation was selected with the objective of maintaining a reasonable market and improving the liquidity of the OverActive share. Pursuant to the agreement between Generation and the Company (the âGeneration Agreementâ), the Company has agreed to initially pay Generation a monthly fee of C $ 7,500 plus applicable taxes. Generation will not receive any securities of the Company as compensation, and Generation does not currently hold any securities of the Company; however, Generation and its clients may acquire securities of the Company. Generation is an arm’s length party to the Company. Generation is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member firm of the TSXV. The initial term of the Generation Contract will be six months, and this term will be tacitly renewed for subsequent six-month periods unless terminated early with 30 days written notice.
Virtus, based in Toronto, Ontario, was engaged to provide investor relations services to the Company. Pursuant to the agreement between the Company and Virtus (the âVirtus Agreementâ), as compensation for the services of Virtus, the Company has agreed to pay a monthly cash fee of C $ 8,500 plus applicable taxes. Babak Pedram, Director of Virtus, owns 1,900,000 common shares of OverActive.
This press release contains statements that constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding plans, intentions, current beliefs and expectations. OverActive with respect to future business activities and operational performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “s’ wait âor similar expressions.
Investors are cautioned that forward-looking statements are not based on historical facts but rather on the expectations, estimates or projections of OverActive management regarding future results or events based on the opinions, assumptions and estimates of management considered to be. reasonable as of the date the statements are made. Although OverActive believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve risks and uncertainties, and should not be relied upon unduly, as unknown or unforeseeable factors could have material adverse effects on the companies. OverActive’s future results, performance or achievements. Risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements include the risks and uncertainties described in the Company’s filing statement dated July 2, 2021 and other public disclosure documents. filed on SEDAR at www.sedar. com.
If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking statements prove to be incorrect, actual results may differ materially from those described in this document as being expected, anticipated, anticipated, believed, estimated or expected. Although OverActive has attempted to identify risks, uncertainties and important factors that could cause actual results to differ materially, there may be others that cause results to not be as anticipated, estimated or expected. and these changes could be significant. OverActive does not intend, and assumes no obligation, to update any forward-looking statements, except as otherwise required by applicable law.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this release.
For more information please contact:
Babak Pedram, Virtus Advisory Group Inc. (Investor Relations)
Joel Shaffer, Longview Communications Inc. (Public Relations)
Paulo Senra, Head of Communication and Public Relations, OAM
ABOUT SURACTIVE MEDIA
OverActive Media (TSXV: OAM) is headquartered in Toronto, Ontario, with operations in Madrid, Spain and Berlin, Germany. OverActive’s mandate is to create an integrated global business delivering sports, media and entertainment products to the current generation of fans with a focus on esports, video games, content creation and distribution. , culture and events live and online. OverActive has team franchises in (i) the Overwatch League, operating as the Toronto Defiant, (ii) the Call of Duty League, operating as the Toronto Ultra, (iii) the European League of Legends (“LEC”), operating as MAD Lions, (iv) Superliga, operating as MAD Lions Madrid, and (v) Flashpoint, operating as MAD Lions Counter Strike: Global Offensive ( a franchise league operated by B Site Inc., a company in which OverActive has a minority stake), as well as other unaffiliated CS: GO tournaments and leagues. OverActive also manages live and online events, operating under the name of OAM Live and maintains an active social media presence with its fans and community members, manages fan clubs and other fan related activities. that increase the reach of its brands.