The global gaming operator, headquartered in Calgary, HeadsUp Entertainment, has disclosed that it is currently undergoing a reverse triangular merger with an anonymous company.
HeadsUp Entertainment International Inc. is a worldwide online gaming operator and media firm that specializes in various areas, including online gaming, online poker, eSports, sports betting, online lottery, mobile 50/50, charity fundraising platforms, software, and blockchain-based payment solutions. HeadsUp Entertainment International Inc. started conquering the Canadian gambling market in 2021. As we can see now, it has great ambitions and long-term growth plans in the Great White North.
HeadsUp Entertainment teamed up with Enteractive Media last year to establish multiple revenue platforms in six US states and Ontario.
However, the company is now in the process of consolidating its assets in line with various corporate finance agreements that will enable it to transition to a higher-tier exchange.
HeadsUp had been subjected to a “mandated quiet period” as part of several NDAs. However, it has now emerged that the company has been selected to conclude a reverse triangular merger. In preparation for the proposed transactions, the management of the company will finalize two years of audited financial statements and a registration statement, which will also furnish the Alberta Securities Commission with the necessary information to apply for the removal of the Cease Trade Order in Canada. As part of this process, HeadsUp has announced it will divulge details regarding a variety of transactions, including acquisitions, new strategic partnerships, and global product launches, which were previously subject to strict non-disclosure commitments.
Although the company cannot currently disclose the identity of the targeted consolidation vehicle, it will make all required material disclosures during the corporate finance process and via its filings as required by the various exchanges. Additionally, new hires will clarify the scope of the enhanced business model in its multi-pillared monetization plan for the gaming, lottery, and media sectors, according to HeadsUp.