YDx Innovation Corp. (TSXV:YDX) signed non-binding Letter of Intent to acquire Amuka Ventures Inc. for CAD 2.9 million on October 15, 2020. The consideration includes issuance of 27,352,941 common shares in the capital of the YDx and exchanging such YDX Shares, on a pro rata basis, for all of the Amuka Shares held by shareholders of Amuka Esports. Post acquisition, Amuka Esports will merge into the YDx Innovation's esports division. Upon closing of the transaction, Amuka Esports will have the right to nominate one person to YDX's board of directors and the acquisition is not expected to result in a change of control of the YDx Innovation. The obligations of the Parties to close the Transaction will be subject to customary conditions and any other conditions agreed to by the Parties in the definitive agreement, including: the YDx's satisfactory completion of due diligence; the board of directors of the YDx and Amuka Esports approving the transaction; the Parties' execution of the definitive agreement; the receipt of any applicable regulatory approvals such as TSX Venture Exchange approval and third-party consents; and there being no material adverse change in the business, results of operations, prospects, condition (financial or otherwise) or assets of Amuka Esports. As of December 8, 2020, Amuka Esports shareholder approval was received. The transaction is expected to close in the first quarter of 2021.