On May 11, 2020, Torque Esports Corp. (TSXV: GAME) (OTCQB: MLLLF) ("Torque"), Frankly Inc. (TSXV: TLK) (OTCQX: FRNKF) ("Frankly"), and WinView, Inc. ("WinView") completed their business combination, pursuant to which Torque acquired each of Frankly and WinView, creating an integrated platform dedicated to live esports, news and gaming. The combined company is called Engine Media Holdings, Inc. ("ENGINE") [Esports, News, Gaming, Interactive Network, Engagement].
ENGINE is the first public entity devoted to driving new sources of revenue for sports, esports and news content, with a set of businesses covering various elements of the esports sector, gaming related to live sports events, content management and streaming services, data-driven advertising sales, and intellectual property covering mobile cash games of skill and sports gambling.
Torque effected the transaction by acquiring all of the issued and outstanding common shares of Frankly pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) and indirectly acquiring WinView, pursuant to a statutory merger of WinView with and into Engine Merger Sub Inc. (a wholly-owned subsidiary of Torque), under the General Corporation Law of the State of Delaware.
Gowling WLG advised Frankly with respect to this business combination with a team that included Peter Simeon, Kathleen Ritchie, Jacob Cawker and Harrison Sversky (corporate/M&A), Brett Kagetsu (B.C. corporate), Martin Palleson (B.C. litigation), and Paul Carenza (tax), assisted by student-at-law Adam Sherman