Contagious Gaming completes Digitote acquisition

The Purchase Price shall be satisfied as follows:

• Share consideration of C$4,004,000 (EUR2,800,000) to be satisfied by the issuance of Contagious Gaming common shares at a deemed price per share of $0.50 for a total of 8,008,000 shares.
• 
  Earn-out consideration of 1x EBITDA (subject to certain adjustments) for each of the four years following the closing of the Acquisition up to a cumulative total of EUR2,200,000 (C$3,146,000).

Digitote is being acquired free of any long term debt and was delivered with positive working capital. All Contagious Gaming shares issued in connection with the ccquisition are subject to a four-month hold period which expires March 31, 2016.

"We are very excited to announce that we have completed the acquisition of Digitote. The addition of Digitote expands and enhances our sports betting offering and delivers significant synergies with our existing business. With the completion of this acquisition we are now able to provide our existing and new customers with a fixed odd sports betting platform alongside Goal Time. Our recent applications with the UK Gambling Commission licenses for online sports betting and casino licenses will further enhance our ability to provide customers with managed service solutions," said Peter Glancy, CEO and Director of Contagious Gaming.

Guenter Boyks, CEO of Digitote, remarked: "We are delighted to complete this transaction with Contagious Gaming. The combined synergies offer huge potential with significant opportunities to expand into international markets and grow the combined entities revenues."