Planet Ventures Receives Conditional Approval on First Eleven Acquisition

2020-01-15 / @thenewswire

(TheNewswire)

VANCOUVER, British Columbia - TheNewswire – January 15, 2020 – Planet Ventures Inc. (TSXV:PXI) (FSE:P6U) (“Planet” or the “Company”) is pleased to announce that it has received conditional approval from the TSX Venture Exchange pertaining to its investment in First Eleven Ltd (First XI). This investment adds to its portfolio of investments in the technology, gaming, cannabis and mining sectors and represents Planet’s first wholly owned investment.

“We are extremely excited to receive conditional approval for the significant investment in First XI” says Zula Kropivnitski, CFO of Planet Ventures Inc. “We have been working very hard over the past several months to get this deal over the line and I’m happy to let all our shareholders know that we’re closer towards achieving this goal. We look forward to closing this acquisition in due course and driving substantial value for our shareholders.”

Planet’s management team continues to monitor its current portfolio of investments in the eSports, cannabis as well as several disruptive technology industries and will provide further updates over the coming months.

About eSports

eSports has now been recognized an “explosive billion-dollar industry” with events occupying massive stadiums, and with millions of spectators watching through streaming services. Newzoo, a market analytics company, estimates that the eSports market could reach $1.8 billion to as high as $3.2 billion in revenue by 2022 (source: https://fortune.com/2019/02/14/global-esports-market-revenue/).

About First XI

First XI’s unique business model combines the passion for Football & eSports with cutting edge gamer technology combined with exclusive access to football stars. First XI, is the first sports media company to produce and manage e-Sports teams made up entirely of professional soccer players alongside soccer legends who will play against, participate and engage with football fans and gamers as part of a unique and exciting gaming experience.

First XI’s licensed proprietary technology platform will provide a 24/7 gamer hub, dedicated to gamers and soccer fans delivering live competitive e-Sports competitions, professional events, jackpot prizes, news, games updates, live media partner information. 1st XI's game platform offers players multiple game options, via syndicated and collective peer-to-peer group play.

Subscribers & First XI Gold, Silver, Bronze Club members will have the opportunity to play with and against and watch soccer stars play FIFA, esports, via live streamed social media networks, including First XI’s own dedicated e-Sports gamer platform. With an obtainable daily reach of millions of players.

First XI’s social reach, delivers relevant and compelling content with its ability to drive revenues, deliver a significant audience and attract International brands on a global basis.

Combining the passion for football alongside the significant growth in e-Sports, offers a unique opportunity to build a subscriber base of millions of dedicated sports fans.

The company is based in the UK with an office in Brazil. The passion that Brazil has for sports is clearly visible in its thriving and growing eSports scene. The Country boasts a significant and substantial gamer base in excess of 75.7M and has the third largest E-Sports fans base in the world with 7.6 million Brazilians watching professional content more than once per month (Data sourced from “Newzoo")

First XI also has a fully licensed online gaming platform licensed under the UK Gaming Commission for the conduct of online sports wagering.

About Planet Ventures Inc.

Planet Ventures Inc. (PXI.V), is an investment issuer listed on the Toronto Venture Exchange, that is focused on investing in disruptive companies and industries that have high growth potential. Our unique portfolio driven investment policies provide our investors access to emerging and high-growth opportunities while shielding them from any formidable downside.

For more information, please visit our website: planetventuresinc.com

ON BEHALF OF THE BOARD

“Zula Kropivnitski”

Zula Kropivnitski

Chief Financial Officer and Director

INVESTOR RELATIONS CONTACT

PLANET VENTURES INC.

Tel: (604) 681-0084

Fax: (604) 681-0094

Email: info@planetventuresinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.