LAS VEGAS, Feb. 01, 2022 (GLOBE NEWSWIRE) — MMA Global, Inc. (OTC Pink: LUSI) (“LUSI”) (name and ticker symbol change pending) is pleased to announce that leading eSports and sim racing media platform, GTR24H AsP (“GTR24H”) has joined forces with the Zuki Project.
GTR24H is a leading esports sim racing media platform created for the “metaverse”-ready economy and entertainment world. GTR24H is at the forefront of the global creator economy — an industry centered around innovative digital content development fueled by social media influencers, creators and businesses, who monetize their content online. With a leading digital content platform created by and for Gen Z and millennials. GTR24H has established a highly engaged, loyal global fan base of millions across its combined tv networks, mobile apps and social platforms that rivals established sim racing and eSports leagues and numbers that rival traditional sports leagues.
GTR24H produces premium eSports and sim racing events content, merchandise, and consumer products and creates advertising and sponsorship programs for leading technology and eSports ready advertisers. With a global audience reach over 400M through distribution partners and networks which include MotorVision TV and, in 2022, EuroSport TV, GTR24H is positioned as the first eSports media broadcasting and commentary platform and sim racing events platform to unlock key relationships with a coveted demographic among millennials and Gen Z influencers across the metaverse, groups that have long proven difficult to reach for traditional media companies and advertisers.
With a combined tv network, mobile app and social media reach of over 200 million globally, in Europe, North America, Asia and Africa, including select regional global markets, including both its owned and operated channels and its network of content creators, broadcaster, drivers and dedicated fans within the metaverse, GTR24H is positioned to lead eSports broadcasting and sim racing events and media content and sim racing culture for the next generation.
By means of this transaction, GTR24H seeks to cement its leadership position amongst leading European eSports media and sim racing events companies with distribution channels to MotorVision TV, ESTV and, in 2022, to EuroSport TV.
Together, LUSI and GTR24H desire to build the collaboration between the two companies and then at an appropriate moment to be determined, to see GTR24H spun off into its own publicly traded entity on a U.S. Exchange, with NASDAQ being the anticipated market of choice.
Management Commentary
Jon Fabricius Turell, Chief Executive Officer of GTR24H , said, “We are thrilled to announce this important milestone of GTR24H’s plans to enter the public market. In our short history, we have evolved from a disruptive content generator to one of the world’s most decorated and successful esports franchises, and now into one of the younger generations’ most recognized and followed brands globally. We believe GTR24H is becoming the leader of next generation sim racing media and entertainment, gaming, entertainment and lifestyle in the digital-native world. This transaction will provide us capital and access to the public markets, which will help us accelerate the expansion of our multi-platform and monetization strategy. We are so grateful to our team, our advisors and the millions of loyal fans who have helped us take GTR24H to the next level. We also look forward to working with Jim Phipps and the LUSI board and advisors to build a mutually beneficial partnership.”
James Phipps, Chief Executive Officer at LUSI said, “We’re glad to welcome GTR24H into the Zukiverse. This deal with GTR24H represents a tremendous opportunity to invest in and be a part of the future of eSports broadcast media and sim racing media event entertainment. With unmatched social media reach and Gen Z engagement, and the opportunity to meaningfully expand its global multi-platform presence across content, gaming, entertainment, consumer products and the metaverse, we believe GTR24H has the potential to create significant value for LUSI and its stakeholders.” Phipps added, “We are excited to partner with Jon Turell and his advisory team at Alpha Deal Group, led by Ian Roberts. Jon has surrounded himself with an exceptional team and advisors, and we look forward to much success in our enterprise together. We see ourselves working together to engage and to reward the GTR24H community of drivers, teams and fans, something the Zuki platform has been designed to do.”
Transaction Overview
The deal takes the form of a like-for-like share swap transaction, which sees LUSI taking a twenty-two and a half percent (22.5%) equity ownership stake in the voting shares of GTR24H, which is valued at ten million U.S. dollars ($10,000,000), and GTR24H receiving ten million (10,000,000) voting shares of LUSI at a price of $0.225 per share. By law and agreement, the shares issued on both sides in connection with this deal will be restricted for a year. In this transaction, LUSI will have VIE control for purposes of consolidating the results of these two companies.
This deal contemplates, LUSI, GTR24H and LUSI’s other group companies collaborating to raise up to $75 million in capital together, with up to $19 million of that new capital earmarked for application to the execution of GTR24H’s ambitious strategic plan to grow and to diversify its revenue streams with user monetization, expansion of its global footprint, and investment in new growth opportunities across the creator economy and emerging technologies that will strengthen GTR24H’s business model.
The proposed business combination has been approved by the boards of directors of both GTR24H and ZUKI.
Advisors
Management consulting firm Alpha Deal Group Limited has advised GTR24H in this transaction.
About GTR24H
GTR24H is a digital-native lifestyle and media platform rooted in gaming and youth culture, reimagining traditional entertainment for the next generation. Founded in 2010 by IT professionals and sim racing enthusiasts, GTR24H was created for eSports sim racing enthusiasts and the fandom metaverse, and today operates EEWC (Endurance Eracing World Championship Series) that creates more unique high entertainment content, tier-one brand partnerships, a collective of sim racing professionals and aspiring professionals, and the fands and fandom of the eSports metaverse. Reaching over 400 million across tv networks, streaming apps and social platforms globally, GTR24H delivers a wide variety of entertainment and live streams of highly competitive sim racing series. GTR24H’s leadership in the evolution of sim racing eSports content creation and branded entertainment reflects a deep history dating back over a decade before eSports and sim racing were pop culture words.
About Alpha Deal Group Limited
Alpha Deal Group Limited is a management consultancy group and buyside technology platform that focuses on unique idea generation in frontier and emerging market opportunities where valuation disparities may exist.
About LUSI
MMA Global, Inc., a Nevada corporation, is an entertainment company preparing to launch a blockchain enabled “live event” and always-on games platform that combines social media engagement (follower/fan engagement and consumer activation), fungible and nonfungible tokens (cryptocurrency) and gaming in a way that rewards creativity, skill and knowledge, risk taking and the promotion of beauty, balance and bounty in the world.
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