i3 Interactive announced on August 11 that it has signed an agreement to acquire all shares in an unnamed private British Columbia (BC) corporation. The said corporation allegedly owns and operates a poker brand in the Indian market.
After the acquisition, i3 Interactive will organize an indirect, 65% controlling interest in the brand. The brand is said to be part of a poker network in India with more than 1 million registered players and 75,000 active users as of July 2020.
The company plans to relaunch the operation under the brand name Blitzpoker, which was built in partnership with Dan Bilzeran, a social media influencer known as the “King of Instagram.”
Blitzpoker will be offering a number of game modes in Texas Hold’Em and Omaha, for players of all skill levels.
As part of the agreement, former shareholders of the BC corporation, which currently controls the operation, will be given one common share in the capital of the company. This is in exchange for each target share they hold. As of the moment, there are around 5,159,600 target shares issued and outstanding.