eSports.com to invest $1 million into iCandy
Blockchain game developer iCandy enters funding partnership with esports site
eSports.com agrees to invest $1 million into iCandy in exchange for 16.5 million newly issued ordinary shares. Under the Term Sheet, payments from eSports.com will take place over five equal tranches of $200,000, with the first tranche payable with 7 days of signing.
By the end of the transaction, eSports.com will own 19.5% of iCandy. Thanks to the investment, eSports.com products and services offering will be promoted through the iCandy gamer network, which currently exceeds 23 million gamers. eSports.com will appoint one director onto the Board of iCandy to facilitate a close collaboration between the businesses.