X1 Esports and Entertainment Ltd. (TSE:XONE) has released an update.
X1 Entertainment Group Inc. has retracted its previous announcement concerning a non-brokered unit financing related to its shift to mineral exploration and pending acquisition of the Manson Bay Property. The company will set the final terms of the financing closer to the shareholder meeting, aiming to adapt to market conditions and ensure sufficient working capital. The financing, essential for the acquisition’s completion, is contingent upon shareholder and regulatory approval, with the expected closure in June 2024.
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