Vertiqal Studios Corp. (TSX:VRTS) signed a binding letter of intent to acquire Omnia Media, Inc., GameCo Esports Canada Inc., and Direct Sales Business Line of Enthusiast Gaming (TSX:EGLX) for CAD 4.5 million on August 19, 2025. Vertiqal has issued a promissory note to an arm?s length investor in the amount of CAD 0.90 million in order to satisfy the initial purchase price deposit with an interest rate of fourteen percent for the first sixty days and thereafter twenty-four percent for the remainder of the term until August 31, 2027. Under the binding letter agreement, Vertiqal will acquire all rights, title, and interest in and to Enthusiast Gaming?s direct media sales assets, and in addition, the transaction also includes all of the issued and outstanding common shares of Omnia Media Inc. and Gameco Canada Inc. which holds the YouTube and Twitch assets. As of June 30, 2025, the net liability position of the Direct Sales Business Line and acquired entities being assumed by VSC would have been approximately cad 3.6 million ($2.6 million). In related transaction, Enthusiast Gaming Holdings Inc. terminated its existing non-binding letter of intent in respect of the Direct Sales Business Line as set out in the July 7 Press Release.

Closing is expected on or before September 5, 2025, subject to customary closing conditions and regulatory approvals.

Vertiqal Studios Corp. (TSX:VRTS) completed the acquisition of Omnia Media, Inc., GameCo Esports Canada Inc., and Direct Sales Business Line of Enthusiast Gaming (TSX:EGLX) on August 30, 2025. The Transaction is expected to result in approximately CAD 10 million of cost savings on an annual basis, resulting in material improvements in Adjusted EBITDA, while providing over CAD 4.5 million of balance sheet improvement and other significant working capital benefits to Enthusiast Gaming.