X1 Entertainment Group Inc. Announces Changes to the Board and New CEO

Acquisition of Octane is meant to make bigger X1 s world Rocket League video video games portfolio and succeed in to Gen Z audiences

  • The transaction is expected to reinforce X1’s place in online game media, including Octane’s social media fans and statistical platform at http://Octane.GG
  • Rocket League globally averages over 80M gamers per thirty days 1
  • The purchase is X1’s 3rd closed post-IPO acquisition after the announcement of the final of the Tyrus LLC acquisition on August 5 th 2022, and ShiftRLE on August 10 th 2022.
  • It’s expected that Octane will merge into Shift to create a brand new vacation spot for Rocket League enthusiasts.

X1 Esports and Leisure (CSE:XONE; OTCQB: XOEEF; FSE: ZI0) (“X1” or the “Corporate”), a video video games and media portfolio corporate which owns and operates Esports property and a number one writer financial system trade is happy to announce, additional to its information unencumber dated September 15 th 2022, it has closed its acquisition of the property comprising of Octane.GG (“Octane”), a web-based statistical and information outlet curious about the preferred online game, Rocket League.

In reference to the purchase of the property comprising the trade of Octane, the Corporate has entered into consulting agreements with two people, who as key group of workers will probably be liable for the continuing operation of Octane. As attention for the purchase of the property compromising the trade of Octane, the Corporate is paying a cash acquire worth of US$35,000, US$17,500 of which was once paid in reference to the final of the purchase and US$17,500 of which will probably be payable inside 45 days after the final date.

We’re enthusiastic to have closed at the Octane acquisition,” mentioned Mark Elfenbein, CEO of X1. “As Rocket League continues to develop in world reputation, proudly owning more than one property inside this Esport permits the chance to release an all-encompassing Rocket League vacation spot web page containing breaking information, statistics, video highlights, and fable sports activities.”

Knowledge Associated with Octane

Octane is the main Rocket League Esports statistics platform offering in-depth fit statistics around the most sensible occasions within the house. Since its inception in 2017, Octane has amassed information for masses of hundreds of video games and hundreds of gamers, groups, and occasions. As the principle supply of statistics for Rocket League, Octane has collected a precious trove of information at the historical past and evolution of gamers and groups from their rookie days to enjoying at the international degree. The usage of the platform, enthusiasts are ready to check-in are living right through recreation days to look how their favourite gamers and groups are acting, whilst coaches and commentators can use the knowledge to attract higher conclusions and create narratives round how gamers and groups are trending. Octane’s tough set of filters and complete information makes it an unequalled useful resource for the huge group of Rocket League esports enthusiasts.

The Corporate anticipates usage of Octane’s Rocket League statistics database in launching long term choices, equivalent to a conceivable Rocket League fable product, as mentioned in X1’s prior information unencumber dated July twenty fifth, 2022.

Adjustments to Administrators and Officials

The Corporate additionally publicizes that Jan Hoffmann has resigned from the Corporate’s board of administrators (the ” Board “) and because the Leader Govt Officer of the Corporate’s wholly owned subsidiary, RixGG Europe Ltd., which holds and operates the Corporate’s RixGG e-sports groups. The Corporate want to thank Mr. Hoffmann for his contributions to the Corporate and desires him neatly on his long term endeavours. Latika Prasad, a present director of the Corporate, will probably be appointed Leader Govt Officer and a director of RixGG Europe Ltd. and can oversee operations with Mark Elfenbein, CEO of X1.

Samantha Shorter has been appointed to fill the emptiness at the Board. In connection together with her appointment to the Board, Ms. Shorter has resigned as Leader Monetary Officer of the Corporate, and Bobby Dhaliwal has been appointed because the Corporate’s Leader Monetary Officer.

Samantha Shorter

Ms. Shorter maximum just lately served because the Leader Monetary Officer of X1, and has over a decade of revel in in offering reporting, assurance and accounting services and products to publicly traded corporations, together with generation corporations. She left public observe in 2011, the place she acted within the capability of audit supervisor with Davidson & Corporate LLP, a significant Canadian accounting company, and has since taken on plenty of management roles. Her governance and accounting wisdom facilitates efficient implementation and oversight for monetary reporting, management and inside controls building and budgeting. Ms. Shorter finished a Bachelor of Trade with Honours on the College of British Columbia. She is a Chartered Skilled Accountant (CPA, CA) and Qualified Inside Auditor.

Bobby Dhaliwal

Mr. Dhaliwal works as a monetary marketing consultant with a lot of TSX-V and CSE indexed corporations within the assets and generation sector, together with within the roles of CFO and controller. Those corporations are Canada-based with quite a lot of world operations. His skilled revel in contains help on preliminary public choices, steady disclosure and fiscal reporting, implementation of accounting device, quite a lot of fairness financings and implementation of inside regulate insurance policies. Mr. Dhaliwal graduated from Langara School, Vancouver, and holds a bachelor of accountancy.

Knowledge Associated with Rocket League

Rocket League is likely one of the international’s main esports 2 . With 5-minute video games that function continuous motion, the car-soccer hybrid recreation has observed important enlargement with gamers throughout demographics since its release, now seeing world averages of 80M gamers per thirty days, in line with Energetic Participant 3 .

About X1

X1 Esports and Leisure Ltd. is a gaming and leisure corporate that is helping attach manufacturers with Gen-Z and millennial audiences in all places the arena via a various portfolio of property which incorporates an Esports group, a ability control company, and different built-in media property. The corporate’s property are in 3 primary verticals: Media & Community, Writer Financial system, and Gaming & Esports. X1 is constant to construct upon its present portfolio of property via a mixture of natural enlargement and accretive M&A

For more info, please touch:

Mark Elfenbein

CEO and Director



Positive knowledge on this information unencumber might include forward-looking statements that contain considerable recognized and unknown dangers and uncertainties. Ahead-looking statements are regularly recognized through phrases equivalent to “will”, “might”, “will have to”, “wait for”, “expects” and an identical expressions. All statements rather than statements of historic truth integrated on this information unencumber are forward-looking statements that contain dangers and uncertainties. There will also be no assurance that such statements will end up to be correct and exact effects and long term occasions may just range materially from the ones expected in such statements. Ahead-looking knowledge on this information unencumber contains the facility of Octane to combine with ShiftRLE or in any respect, and anticipated synergy between ShiftRLE and Octane, together with through making an allowance for the availability of Rocket League fable sports activities choices, the continuing enlargement and recognition of Rocket League, the expansion of ShiftRLE (as built-in with Octane) and the established order of ShiftRLE as a multimedia corporate with longevity within the house, and the success of any income through ShiftRLE. Essential elements that would motive exact effects to range materially from the Corporate’s expectancies come with the failure to meet the prerequisites of the related securities trade(s) and different dangers detailed once in a while within the filings made through the Corporate with securities rules, converting marketplace and trade prerequisites, the facility of each and every of X1 and Octane to put in force their respective trade methods, together with plans to combine Octane and ShiftRLE, the continuing relevance of Octane’s media features, aggressive prerequisites, adversarial trade occasions, availability of capital and financing as wanted. The reader is cautioned that assumptions used within the preparation of any forward-looking knowledge might end up to be improper. Occasions or instances might motive exact effects to range materially from the ones predicted on account of a large number of recognized and unknown dangers, uncertainties, and different elements, a lot of which might be past the regulate of the Corporate. The reader is cautioned to not position undue reliance on any forward-looking knowledge. Such knowledge, even if thought to be cheap through control on the time of preparation, might end up to be improper and exact effects might range materially from the ones expected. Ahead-looking statements contained on this information unencumber are expressly certified through this cautionary remark. The forward-looking statements contained on this information unencumber are made as of the date of this information unencumber and the Corporate disclaims any purpose or legal responsibility to replace or revise such knowledge, aside from as required through appropriate legislation.

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