Monaker Group (MKGI) Announces Shareholder Approval to Acquire HotPlay

April 8, 2021 9:12 AM EDT
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Monaker Group, Inc. (NASDAQ: MKGI), a technology solutions company, today announced Monaker Group shareholders at a special meeting held on April 7, 2021, voted to approve the issuance of shares of common stock associated with the acquisition of HotPlay Enterprise Limited (HotPlay), pursuant to a Share Exchange Agreement entered into with HotPlay and its stockholders, and to further approve the terms of such Share Exchange Agreement (the "Transaction").

“We are pleased to have received the overwhelming support of shareholders that voted for this transformative combination,” said Bill Kerby, Chief Executive Officer of Monaker Group, who continued, “We look forward to completing the acquisition in the near-term and working with the HotPlay team and stakeholders to take advantage of the significant opportunities in front of us created by the accelerating demand for effective solutions in the expanding digital marketing and gaming.”

HotPlay is an innovative advertising technology company taking in-game advertising to the next level. Established by a strategic collaboration of seasoned professionals from technology, multimedia, video game development and entertainment, combined with sound financial backing, the Company has developed a revolutionary marketing solution harmonizing engagement between brands and gamers. HotPlay deploys seamlessly integrated advertising and promotion that coexists with the surrounding game content. HotPlay’s non-intrusive, non-disruptive and interactive advertising content is designed to allow brands to tactfully connect with the 2.5 billion gamers worldwide, leading to greater brand awareness and wider market reach, which in turn will generate business growth for businesses.

HotPlay helps brands drive their online traffic to an offline store with a redemption coupon. Advertisers can deliver in-game special privileges digital coupons and their target audience can then convert them on both online and offline channels, heightening customer engagement with the brands. HotPlay also offers conversion funnel tracking tools and other real time business integration insights that will help brands to better understand their target audience.

Additionally, HotPlay serves as an advertising platform helping monetize and support game developers, creating an additional revenue stream for game developers without compromising the integrity of their game.

Completion of the HotPlay transaction remains conditional and subject to additional closing conditions, the most significant of which is formal NASDAQ approval of the transaction (i.e., approval by NASDAQ of the continued listing of Monaker’s common stock on The NASDAQ Capital Market post-closing, which requires that the combined company re-meet NASDAQ’s initial listing requirements), to complete. Subject to NASDAQ’s approval and satisfaction of the remaining closing conditions, the completion of the acquisition of HotPlay, and Monaker’s planned name and symbol change to “NextPlay Technologies, Inc.” and “NXTP” respectively, are expected to occur in the coming weeks.

Additional information about the special meeting and items approved at the special meeting are included in the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on April 8, 2021.

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