Champion Gaming Closes Nearly Half Million Deal, Contract To Strengthen Specialized Consulting Services And Consumer-Facing Capabilities

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Champion Gaming Group Inc. WGRFF WAGR announced that EdjSports LLC, 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 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 from the original date of grant.

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.