Global Blockchain Technologies Corp (CSE:BLOC) said it has closed on the acquisition of all shares of gaming company X2 Games.
Under the terms of the deal, the company issued 330,519,541 common shares at a price of $0.15 per share in exchange for all of the issued and outstanding X2 Games shares for an aggregate purchase price of $49,577,931.15.
READ: Global Blockchain Technologies signs deal to buy Atari co-founder's gaming company X2 Games for $49.6M
X2 Games has merged with a wholly-owned subsidiary of Global, 1183493 B.C. Ltd.
"As a result of this transaction, we will have delivered three prosperous lines of business to our shareholders in just over a year’s time," Shidan Gouran, the President and CEO of the company, said.
Following the closing of the transaction, the subsidiary has assumed the name of X2 Games Corp. All intellectual property rights to X2 Games’ current game projects became part of Global Blockchain, including four digital interactive games for Amazon Alexa.
One of these games, titled St. Noire, has a pre-release date set for the first quarter of 2019, with three other Amazon Alexa games set to be launched in 2019.
The transaction was approved by the shareholders of X2 Games at a special meeting on December 14, 2018.
Global Blockchain is a cryptocurrency investment company based in Vancouver.
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