Alpha Metaverse Technologies acquires Shape Immersive Entertainment

2 minute read
05 May 2022

On May 5, 2022, Alpha Metaverse Technologies Inc. (CSE: ALPA) (FSE: 9HN0) (OTC PINK: APETF) ("Alpha") announced that it had completed its previously announced acquisition of 100% of the issued and outstanding share capital of Shape Immersive Entertainment Inc. ("Shape") from all of the former shareholders of Shape.

Alpha is a technology company that focuses on emerging industries in Esports, mobile, console and web-based gaming, ecommerce, and other high growth opportunities such as augmented reality / virtual reality Web3 and Blockchain-based businesses.

A leader in metaverse development since inception in 2018, Shape creates three dimensional and non-fungible token ("NFT") content and experiences for brands including Red Bull® and the Olympics®. Shape has also created metaverse experiences for NFT leaders RTFKT® (recently acquired by Nike®) and Star Atlas®. Shape will function as a business unit within Alpha and Shape's management team will continue to lead the studio.

Gowling WLG advised Shape with respect to this transaction with a team that included Jill Dunn, Brett Kagetsu, Ethan Chang, James Stewart and Danny Long (corporate); Brent Kerr and Anita Yuk (tax); and Roch Ripley (client relationship partner).

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