Torque Esports Corp.has renegotiated the acquisition of the market-leading motorsport simulator manufacturer, Allinsports, which was originally announced on August 22, 2019.
The Company will now be acquiring 100 percent of Allinsports in exchange for the issuance of 14,500,000 common shares of the Company. In addition, if Allinsports achieves certain EBITDA metrics in fiscal 2021 excluding purchases made by the Company, the Company will make an earnout payment of US$2 million to the former shareholders of Allinsports. … Read the rest