10:06 AM EST - Enthusiast Gaming Holdings Inc. : Announced today that it has entered into a binding term sheet to acquire Vedatis SAS, owners of Icy Veins ( www.icy-veins.com ), for €7 million (approximately US$8.3 million) in cash and stock, plus an earnout subject to certain milestones being achieved. Completion of the acquisition is conditional upon Enthusiast Gaming and Vedatis entering into a definitive agreement as well as the satisfaction of a number of customary conditions, including due diligence and TSX approval and is expected to close in Q2 2021. Enthusiast Gaming Holdings Inc.
shares T.EGLX are trading up 24 cents at $8.45.
