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Letter Of Intent

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THE LETTER OF INTENT (LOI)

Vancouver, B.C., November 25, 2015 – Opal Energy Corp (CSE: OPA) (the “Company” or “Opal”) announces that it has entered into a letter of intent (the “LOI”) with Versus LLC (“Versus”) to acquire all of the issued and outstanding securities of Versus (the “Transaction”).

Versus, a Nevada corporation headquartered in Los Angeles, has developed state-of-the art video game and e-sports tournament software that allows video game publisher-developers to offer prize-based tournaments of their games. Upon completion of the Transaction, Versus CEO Matthew Pierce will become CEO of the new, merged company, with key Versus management elevated to positions within the new entity to further the development and operation of the business.

Utilizing proprietary intellectual property, Versus will seek to take advantage of the multi-billion dollar video game and e-sports markets. Versus has filed patents around pay-to-play tournaments that allow players to play video games for real money, sponsored consumer packaged goods, and downloadable content.

Under the LOI, the parties have agreed to negotiate in good faith and enter into a definitive agreement (the “Definitive Agreement”) which upon execution will supersede the LOI.

In consideration for the Versus shares, on closing Opal will issue to the Versus shareholders cash, stock, and warrants with a value in excess of $5.6 million dollars. Prior to the closing of the Transaction, Opal may advance funds to Versus for further development of Versus’ business.

The Transaction is subject to Opal completing an equity financing (the “Concurrent Financing”) for gross proceeds of not less than CDN$3,000,000. Opal may pay finders’ fees in connection with the Concurrent Financing. The net proceeds from the Concurrent Financing will be used to fund the US$1,500,000 payment due to the Versus shareholders, with the balance to be used for development of the business and general working capital.

Completion of the Transaction is subject to a number of other conditions, including but not limited to acceptance by the Canadian Securities Exchange (the “CSE”), completion of mutual due diligence and approval of the Opal and Versus shareholders. There can be no assurance that the Transaction will be completed as proposed or at all.

FURTHER AND FORWARD-LOOKING INFORMATION

Further Information

Further details about the proposed transaction and the combined entity will be provided in a comprehensive press release if the parties enter into a Definitive Agreement.  If completed, the Transaction will constitute a fundamental change pursuant to CSE policies.

Forward-Looking Information

This press release contains forward-looking information based on current expectations. Statements about the closing of the Transaction, expected terms of the Transaction, the number of securities of Opal that may be issued in connection with the Transaction, the ownership of Opal, the requirement to obtain shareholder approval and the parties’ ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. The terms described above are not binding unless and until a Definitive Agreement is signed. Opal assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Contact:

Opal Energy Corp.
Brandon Boddy, Director
T:   (604) 639-4486

Meet Versus

Enabling game creators to make their games playable for real money.

Proprietary Software

Versus has developed state-of-the art, proprietary video game and e-sports software.

Prize-based Contests

Enabling video game publisher-developers to offer prize-based contests of their games to players around the world.

Win Real Money

Play skill-based and console games for real money. Put your money where your joystick is!

Find out more about the company on the Versus corporate website.

Versus - Opal Energy Corp Logo

Opal Energy Corp News

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OPAL ENERGY CORP. ANNOUNCES VERSUS LLC’S EXECUTION OF A LETTER OF INTENT WITH A GLOBAL VIDEO GAME PUBLISHER

OPAL ENERGY CORP. ANNOUNCES VERSUS LLC’S EXECUTION OF A LETTER OF INTENT WITH A GLOBAL VIDEO GAME PUBLISHER

Vancouver, British Columbia, December 15, 2015 Opal Energy Corp. (CSE: OPA) (the “Company” or “Opal”) is pleased to announce that Versus LLC (“Versus“) has executed a letter of intent (“LOI”) with a large multinational video game publisher. The Asian-based publisher has an extensive portfolio of well-established game titles. The LOI will allow Versus to begin working with the publisher to integrate the Versus platform into upcoming games.

Matthew Pierce, CEO of Versus said, “This is a big step for the Versus team, and for our publisher partners. It shows that there are companies that want this technology, and that they want to work with us to bring it to market. Publishers want  to make their games more engaging for their players, and we’re ready to work with them to make it happen.”

Further Information

Further details about the previously announced proposed transaction (the “Transaction”) between the Company and Versus will be provided in a comprehensive press release if the parties enter into a definitive agreement. The Transaction, if completed, will constitute a fundamental change pursuant to CSE policies.

Completion of the Transaction is subject to a number of conditions, including but not limited to acceptance by the Canadian Securities Exchange (the “CSE”), completion of mutual due diligence and approval of the Opal and Versus shareholders. There can be no assurance that the Transaction will be completed as proposed or at all.

For further information, please contact:

Opal Energy Corp.
Brandon Boddy, Director
T: (604) 639-4486

Reader Advisory

This press release contains forward-looking information based on current expectations. Statements about the closing of the Transaction, expected terms of the Transaction, the number of securities of Opal that may be issued in connection with the Transaction, the ownership of Opal, the requirement to obtain shareholder approval and the parties’ ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. Opal assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Neither the Canadian Securities Exchange nor its regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

OPAL ENERGY CORP. ANNOUNCES ADVANCE TO VERSUS LLC IN CONNECTION WITH A PROPOSED TRANSACTION.

OPAL ENERGY CORP. ANNOUNCES ADVANCE TO VERSUS LLC IN CONNECTION WITH A PROPOSED TRANSACTION

Vancouver, B.C., December 03, 2015 – Opal Energy Corp. (CSE: OPA) (the “Company” or “Opal”) is pleased to announce that it has advanced funds in the amount of $250,000 USD to Versus LLC (“Versus”) as part of a proposed transaction with Versus, more particularly described in the press release filed by the Company on SEDAR on November 25, 2015, whereby Opal may acquire all of the issued and outstanding securities of Versus (the “Transaction”).

Brandon Boddy, Director of Opal comments, “The signing of a letter of intent with Versus was the culmination of an extensive negotiation and due-diligence process by both sides. Today’s advancement of funds is further testament to Opal’s commitment to the Transaction and our enthusiasm to help develop their state of the art technology.”

Matthew Pierce, CEO of Versus comments, “This is an important step for Versus. It demonstrates Opal’s confidence in Versus and our commitment to the partnership with Opal. The funds advanced by Opal will help us to grow our team and take the technology forward as we integrate into games.”

Further Information

Further details about the Transaction and the combined entity will be provided in a comprehensive press release if the parties enter into a definitive agreement. The Transaction, if completed, will constitute a fundamental change pursuant to CSE policies.

Completion of the Transaction is subject to a number of conditions, including but not limited to acceptance by the Canadian Securities Exchange (the “CSE”), completion of mutual due diligence and approval of the Opal and Versus shareholders. There can be no assurance that the Transaction will be completed as proposed or at all.

Forward-Looking Information

This press release contains forward-looking information based on current expectations. Statements about the closing of the Transaction, expected terms of the Transaction, the number of securities of Opal that may be issued in connection with the Transaction, the ownership of Opal, the requirement to obtain shareholder approval and the parties’ ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. The terms described above are not binding unless and until a Definitive Agreement is signed. Opal assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

For further information, please contact:

Opal Energy Corp.
Brandon Boddy, Director
T: (604) 639-4486

OPAL ENERGY CORP. PLANS TO ACQUIRE VERSUS LLC. (LETTER OF INTENT)

OPAL ENERGY CORP. PLANS TO ACQUIRE VERSUS LLC

Vancouver, B.C., November 25, 2015 – Opal Energy Corp. (CSE: OPA) (the “Company” or “Opal”) announces that it has entered into a letter of intent (the “LOI”) with Versus LLC (“Versus”) to acquire all of the issued and outstanding securities of Versus (the “Transaction”).

Versus, a Nevada corporation headquartered in Los Angeles, has developed state-of-the art video game and e-sports tournament software that allows video game publisher-developers to offer prize-based tournaments of their games. Upon completion of the Transaction, Versus CEO Matthew Pierce will become CEO of the new, merged company, with key Versus management elevated to positions within the new entity to further the development and operation of the business.

Utilizing proprietary intellectual property, Versus will seek to take advantage of the multi-billion dollar video game and e-sports markets. Versus has filed patents around pay-to-play tournaments that allow players to play video games for real money, sponsored consumer packaged goods, and downloadable content.

Under the LOI, the parties have agreed to negotiate in good faith and enter into a definitive agreement (the “Definitive Agreement”) which upon execution will supersede the LOI.

In consideration for the Versus shares, on closing Opal will issue to the Versus shareholders cash, stock, and warrants with a value in excess of $5.6 million dollars. Prior to the closing of the Transaction, Opal may advance funds to Versus for further development of Versus’ business.

The Transaction is subject to Opal completing an equity financing (the “Concurrent Financing”) for gross proceeds of not less than CDN$3,000,000. Opal may pay finders’ fees in connection with the Concurrent Financing. The net proceeds from the Concurrent Financing will be used to fund the US$1,500,000 payment due to the Versus shareholders, with the balance to be used for development of the business and general working capital.

Completion of the Transaction is subject to a number of other conditions, including but not limited to acceptance by the Canadian Securities Exchange (the “CSE”), completion of mutual due diligence and approval of the Opal and Versus shareholders. There can be no assurance that the Transaction will be completed as proposed or at all.

 

Further Information

Further details about the proposed transaction and the combined entity will be provided in a comprehensive press release if the parties enter into a Definitive Agreement.  If completed, the Transaction will constitute a fundamental change pursuant to CSE policies.

Forward-Looking Information

This press release contains forward-looking information based on current expectations. Statements about the closing of the Transaction, expected terms of the Transaction, the number of securities of Opal that may be issued in connection with the Transaction, the ownership of Opal, the requirement to obtain shareholder approval and the parties’ ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. The terms described above are not binding unless and until a Definitive Agreement is signed. Opal assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

For further information, please contact:

Opal Energy Corp.
Brandon Boddy, Director
T:   (604) 639-4486

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Investor Material

Click the Image Below to Download The Versus Investor Deck (PDF)

Versus Investor Deck

The Global Games Market

2015 global games revenues per screen and market segment and year-on-year growth

Global-Games-Industry

Contact Opal Energy Corp

Brandon Boddy, Director