SMAAASH Entertainment Inc. Announces Closing of Combination with NBA Memphis Grizzlies Minority Owner Jed Kaplan’s Simplici...
January 02 2019 - 1:20PM
SMAAASH Entertainment Inc. (NASDAQ: SMSH) (the “Company”),
announced it closed the combination with Simplicity Esports, LLC
(Simplicity) via an all stock acquisition. Simplicity is now a
wholly-owned subsidiary of the Company. Simplicity is an
established brand in the esports industry with an engaged fan
base competing in popular games across different genres, including
PUBG, Gears of War, Injustice 2 and NHL 19. Notably,
the Simplicity stream team
encompasses groups of casters, influencers and
personalities all of whom connect to a
dedicated fan base which has viewed and consumed millions of
minutes of Simplicity content cumulatively on various social
media monthly.
Co-CEO’s Jed Kaplan and F. Jacob Cherian stated,
“We are excited to announce the closing of our business combination
as this marks a tremendous milestone creating the first NASDAQ
listed pure play esports organization. We look forward to sharing
our current and future business plans with the public. Our
goal is to create significant shareholder value, further develop
our brick to click model, and grow our entity as a leader in the
esports industry.”
About SMAAASH Entertainment
Inc.:
SMAAASH Entertainment Inc. (NASDAQ:SMSH), (f/k/a
I-AM Capital Acquisition Company Co-Founded and led by CEO F. Jacob
Cherian and CFO Suhel Kanuga), completed its transaction with
SMAAASH Entertainment Pvt. Ltd (“SMAAASH Private”) on November 20,
2018. SMAAASH Private is a global entertainment company offering
interactive sports experiences and virtual reality gaming
technology. Following the acquisition of Simplicity Esports,
Simplicity will continue to operate its business. Simplicity is an
established brand in the esports industry with an engaged fan
base competing in popular games across different genres, including
PUBG, Gears of War, Injustice 2 and NHL 19.
FORWARD-LOOKING STATEMENTS
This press release contains statements that
constitute “forward-looking statements”. Forward-looking statements
are subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company’s definitive proxy statement filed
with the SEC on September 19, 2018, as amended. Copies are
available on the SEC’s website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
INVESTOR RELATIONS CONTACT:
SMAAASH Entertainment, Inc.
Roman Franklin
roman@SMAAASHinc.com
561-819-8586
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