Vancouver, British Columbia--(Newsfile Corp. - May 20, 2021) - FANDOM SPORTS Media Corp. (CSE: FDM) (OTCQB: FDMSF) (FSE: TQ43) ("Fandom Sports" or the "Company"), is pleased to announce that it has entered into a definitive license agreement with Intellect Dynamics for Intellect Dynamics' DataBioniX™ platform (the "License"). The license agreement provides for the exclusive use by the Company of the DataBioniX™ platform for wagering and predictions and is a critical component of the Company's Unified Information Access ("UIA") platform and its application to Esports, Sports and Streamed content.
Exclusive License for DataBioniX™ Platform
As previously announced on August 4, 2020, the Company entered into a Letter of Intent (the "LOI") with Intellect Dynamics, an award-winning firm specializing in the development of technology solutions and services focusing on real-time analytics , artificial intelligence, business process automation and decision support. The LOI originally envisioned a single use, non-exclusive license for deployment for Esports wagering and predictions. Since that time, Fandom Sports' management has secured the exclusive rights to use the UIA platform for deployment for:
- Esports wagering and predictions
- Sports wagering and predictions
- Programmed television and streaming
According to the Gambling Global Market report 2021: Covid-19 Impact and Recovery to 2030, the global gambling market is expected to grow from $465.76 billion in 2020 to $516.03 billion in 2021 at a compound annual growth rate (CAGR) of 10.8%. The market is expected to reach $674.7 billion in 2025 at a CAGR of 7%. Fandom Sports is now positioned to enter into this lucrative market as a market participant and technology provider to change the way that data is presented and transacted upon in this multi-hundred-billion-dollar industry.
"After connecting our APIs to the top game publishers, we quickly saw a differentiating advantage emerge relative to our peers in the number of predictions/wagers we could generate, the dynamic statistical system reconciliation, the modular applications of various data presentations, and the deep analytics which we could use for intelligent analysis. Through the course of product demonstrations to 3rd party vendors and industry participants across both Esports and Sports wagering, the conversation always steered towards the inevitable-How can we apply these capabilities to our business, and can we get a license? I'm proud to say that Fandom Sports is now in the position to be a solutions provider to Esports, Gaming, Sports, and Streaming industries for predictive data capabilities. We are excited to put the cornerstones in place for the long-term success of our business together with our friends and partners at Intellect Dynamics," states David Vinokurov, CEO and President Fandoms Sports Media.
Christian Gravel, CEO of Intellect Dynamics and Chief Strategy Officer ("CSO") of Fandom Sports continues, "This is the first time that Intellect Dynamics has granted an exclusive use industry license for the DatabioniXTM platform. Our experience in health care, facilities management, supply chain logistics, insurance and telecom deployments has shown us the impact that the DatabioniXTM platform has had on mission critical, data intensive and security focused industries. We are eager to make a transformative impact across the industries covered under the terms of this agreement with Fandom Sports. Furthermore, we are thrilled to be able to share and participate in the success of Fandom Sports, both as active management and shareholders of the Company."
"We are fortunate to have Intellect Dynamics as a cornerstone investor and to have all of our long-term interests aligned. Having recently completed installation of our own server infrastructure, securing the IP has been our next critical item of business in advance of the launch of our wagering and all-ages Esports prediction platforms. Most importantly, we can commence development of interfaces that will expand our reach beyond professional Esports to streamed and broadcasted gaming and sports content. I'm very proud to say that Fandom Sports is a unique platform in the industries it operates and will operate in. We're even more excited to deploy the innovative NFT rewards solution that our development team is working on. What you see now is just the tip of the iceberg and we have a robust development pipeline that continues to evolve and grow," continued David Vinokurov.
An interview has been posted to the Company's YouTube page where David Vinokurov, elaborates on the License agreement. The interview can be viewed at :
Cannot view this video? Visit:
https://www.youtube.com/watch?v=70trwBOcQ2k
Share Issuances
Under the terms of the License, Fandom Sports has the option to pay licensing fees and maintenance and support costs to ID in cash or through the issuance of common shares based on a price of $0.30 per share or the 20 day weighted average trading price of the common shares of Fandom Sports for the period leading up to the due date for such payment. Initial payments of $1,375,000 due to Intellect Dynamics under the License will be paid through the issuance of 4,583,333 common shares at a price of $0.30 per share, which is a premium to the close of trading on May 19, 2021.
Shares issuable under the License will be subject to resale restrictions under applicable securities laws as well as any required stock exchange or securities regulatory consents or approvals.
"PLAY. PREDICT. GET REWARDED."
About Fandom Sports
Fandom Sports Media is developing and deploying a web application which instantly operates on Android and iOS mobile devices targeting Esports Super Fans. The Company's Unified Information Access platform is active in a private cloud with multilingual support and is targeted towards a global launch of the Fandom's regulated betting and unregulated Esports prediction fan engagement models. Fandom supplies interactive Esports entertainment to Super Fans through purpose-built data interaction.
For additional Information:
Investor Relations
Email: info@fandomesports.com
Phone +1 (604) 256 6990
DISCLAIMER:
The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond the Company's control. Some of these risks and uncertainties may be described in the Company's corporate filings (posted at www.sedar.com).
The Company has no intention or obligation to update or revise any forward-looking statements due to new information or events. This press release contains forward-looking statements about FANDOM SPORTS. Forward-looking statements may be identified by the use of words like "believe," "expect," "anticipate," "estimate," "plan," "consider," "project," and similar references to the future. Forward-looking statements reflect FANDOM SPORTS' good-faith evaluation of information available at the time the forward-looking statements were made. These forward-looking statements are subject to a number of risks and uncertainties, and our actual results may differ materially from those projected. Please refer to FANDOM SPORTS' annual and quarterly reports filed on SEDAR for a full discussion of those risks and uncertainties we view as most important. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. We undertake no obligation to update or revise forward-looking statements.
SOURCE FANDOM SPORTS ###
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