OverActive Media Corp. (TSXV:OAM) entered into a non-binding letter of intent to acquire Substiantially all assets of Goatch Global, S.L. and Team Randomk Esports S.L. for CAD 11.4 million on January 4, 2024. OverActive Media Corp.

(TSXV:OAM) entered into a definitive asset purchase agreement to acquire Substiantially all assets of Goatch Global, S.L. and Team Randomk Esports S.L. for CAD 11.4 million on January 22, 2024. Under the terms of agreement, OverActive will issue up to 60 million common shares, consisting of 45 million Initial Consideration Shares and up to 15 million Earn Out Shares to complete the transaction. The transaction is subject to OverActive board approval and the execution of the Definitive Agreements.

Upon closing of the transaction, Gabriel Saenz de Buruaga, co-founder of Movistar Riders, and Gerard Piqué are expected to join the OverActive's board of directors. As of February 13, 2024, Riot Games ("Riot") has approved the transfer of a VALORANT Champions Tour EMEA ("VCT EMEA") Team Participation Agreement ("TPA") from Goatch Global, S.L. (operating as "KOI") to a subsidiary of the Company. This approval satisfies one of the key conditions to the closing of the Acquisition.