- New U.S. subsidiary Generationz to be led by gaming veteran CEO William (Bill) Foss, with the goal of expanding Intema’s esports and iGaming operations in the U.S.
- Generationz signs letter of intent with Wild Rose Entertainment to operate a LOOT.BET sports wagering skin in the state of Iowa
- Betting handle in Iowa estimated at more than US$1 billion in 2021, having reached $287 million in November 2021 (Source: gambling.com, December 10, 2021)
MONTREAL, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Intema Solutions Inc. (“Intema” or the “Corporation”) (TSXV: ITM, OTCMKTS: ITMZF) announces the creation of Generationz Gaming Entertainment Inc. (“Generationz”), a new U.S. subsidiary located in Chicago, Illinois, led by gaming veteran CEO William (Bill) Foss.
Generationz has signed a letter of intent (the “LOI”) with Wild Rose Entertainment (“Wild Rose”) to award Generationz a LOOT.BET sports wagering skin. The LOI will be contingent on, among other things, the negotiation of a definitive agreement, successful certification of the LOOT.BET betting platform by Gaming Laboratories International and obtention of a gaming license from the State of Iowa Racing and Gaming Commission.
“We are thrilled to welcome Bill to the Intema team and are impressed with what he has managed to accomplish in a very short period of time,” said Laurent Benezra, President and CEO of Intema. “The LOI with Wild Rose is just the beginning of what the LOOT.BET platform could bring to Intema once its acquisition is finalized.”
“As CEO of Generationz, I eagerly look forward to this next chapter of my career and to using my gaming knowledge and contacts to create a successful and profitable company,” said Bill Foss, CEO of Generationz. “Wild Rose has three establishments in the State of Iowa and a solid reputation in the state’s gaming community, where more than US$1 billion was wagered in 2021. Once everything is finalized, we will be able to offer a great product to customers of Iowa.”
Bill Foss has worked in the gaming industry for approximately 29 years, having started on the marketing side of operations before rising to general manager, which allowed him to gain an understanding of the operations and regulatory side of gaming. Bill has worked in corporate gaming as well as Native American gaming over the years and has been fortunate enough to learn gaming from some of the most influential and successful gaming operators and owners. Bill has worked in numerous areas and jurisdictions, including Illinois (St. Louis area), Indiana (Cincinnati area), Iowa (Dubuque), San Diego, Northern California (Mendocino County), New Mexico (Taos), Arizona and Northern Wisconsin. Bill has a degree in Business Administration from the University of Utah.
Share issuance to Agora
Further to its news release of April 21, 2021, on July 12 and October 12, 2021, Intema issued an aggregate of 118,868 common shares of the Corporation at a deemed price of $0.53 per share to Agora Internet Relations Corp. in consideration of services rendered.
About Intema
Intema Solutions Inc. is the world’s emerging leader in the esports and iGaming industry. Our mission is to bring the excitement of esports betting to the entire world through fully licensed, secure online platforms. Our ecosystem consists of subsidiaries in esports, iGaming, product branding, digital advertising and marketing campaign design that are all complementary drivers of our future revenue growth. For more information, please visit our corporate website at intema.ca.
Contact
Laurent Benezra
President and CEO
514-861-1881
info@intema.ca
Forward-Looking Statements
This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical facts, included in this press release, including, without limitation, those regarding the Private Placement; the expected development of the Corporation’s business and projects; execution of the Corporation’s vision and growth strategy; sources and availability of financing for the Corporation’s projects; and future liquidity, working capital, and capital requirements, are forward-looking statements. Although the forward-looking statements in this press release are based upon what management of the Corporation believes are reasonable assumptions, they are inherently subject to significant business, economic and competitive uncertainties, and contingencies, and there can be no assurance that they will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-Looking statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this press release relate to, among other things, statements relating to the terms of the Private Placement and the terms of the Proposed Transaction; Intema’s future outlook and anticipated events or results; and the completion of the Private Placement and the Proposed Transaction. Actual future results may differ materially. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Corporation’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Corporation’s control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Private Placement and the Proposed Transaction, including: that the Corporation’s assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and gaming; the inability to obtain, or maintain, gaming license(s); and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Corporation, including its results and financial condition. Except as required by securities law, the Corporation does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. The Corporation undertakes no obligation to update forward-looking statements except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
