TGS Esports Inc. (“TGS” or the “Company“) (TSXV: TGS) is pleased to announce that it has taken the next step in its growth strategy by executing a letter of intent dated October 1, 2020 (the “LOI“) to acquire Volcanic Media Inc. (“Volcanic“), a leader in scholastic and grassroots Canadian esports (the “Acquisition“).
Volcanic was founded in 2018 and is the creator of the National Esports Scholastic League, a first of its kind initiative that works directly with school districts and educators to create various esports initiatives. To date Volcanic has worked with over 1000 high school students in 13 different cities spanning 6 school districts.
Volcanic has been at the forefront of scholastic esports including awarding high school esports scholarships and creating inter-district high school esports leagues, both firsts of their kind in Canada. Volcanic have also started work on indigenous esports efforts, previously working with Binche Keyoh First Nations for pilot esports programs.
Following the closing of the Acquisition (the “Closing“), TGS is also proud to announce that, as part of this new partnership, all high schools looking to utilize Volcanic will be able to do so absolutely free with no fees paid by schools or students. Interested schools can reach out to Shawn Caldera: [email protected].
Acquisition Highlights
- The Acquisition is expected to drive over 200,000 new users to TGS through scholastic leagues, tournaments, and in-class programs.
- The new users will feed into TGS’ online platform, Pepper Esports, which adds to TGS’ overall strategy of having one central ecosystem that creates an unparalleled esports experience.
- The Acquisition has the potential to put TGS at the forefront of High School esports in Canada and offer TGS an all new scholastic division led by Shawn Caldera and JP Perez of Volcanic.
“We have been working with Shawn and his team for some time now and it made perfect sense to bring Volcanic into the fold,” said Spiro Khouri, CEO of TGS. “Thirty percent of all gamers are under the age of 181 and that number is growing. By introducing that demographic to TGS it allows them to interact with us early and stay a part of our ecosystem beyond High School.”
“Volcanic was created to provide high quality esports events in the scholastic space. In this regard, the agreement with TGS will allow us to take Volcanic to the next level and work with students not only in High School but beyond,” said Shawn Caldera, President of Volcanic.
