Trueclaim Exploration Inc. announced that it has entered into a definitive agreement dated June 7, 2019 among Trueclaim, 1205619 B.C. Ltd. (Subco) (a wholly owned subsidiary of Trueclaim incorporated for the purposes of completing the Transaction) and New Wave Esports Corp. (formerly New Wave Holdings Corp.) (New Wave Esports). Pursuant to the Agreement, Trueclaim has agreed to acquire all the shares of New Wave Esports by way of a three-cornered amalgamation between Trueclaim, New Wave Esports and Subco under the Business Corporations Act (British Columbia).

It is intended that in connection with the Transaction, Trueclaim will consolidate its common shares on a 1.5:1 basis and change its name to "New Wave Esports Corp." or such other name as determined by the parties. The leadership team of the Resulting Issuer is expected to consist of Trumbull Fisher as President; Tiffany Lee as Chief Financial Officer and Corporate Secretary; and Daniel Mitre as Chief Marketing Officer. The board of directors of the Resulting Issuer will consist of up to 5 members including Jeffrey J. Stevens, Mr. Fisher, Ms. Lee, and Byron Coulthard from Trueclaim.