Parsec Capital acquires majority stake in Enteractive Media
As part of the acquisition, Parsec has made a major reshuffle of its directorate
Parsec Capital Acquisition Corp has obtained a majority interest in affiliate business Enteractive Media.
The financial aspects of the deal were not disclosed, but Parsec did announce it is expecting to change its name to GameChangerz Media Inc in the near future and will be reapplying to be listed on the Nasdaq Capital market.
Parsec also confirmed its intentions to buy the remaining shares in the affiliate held by minority stakeholders.
As part of the acquisition, Patricia Trompeter, Edmund Moy, William Readdy, Daniel Elwell and Alec Burger all resigned as directors of Enteractive and were replaced by Kelly Kellner and Terry Debono.
Kellner is the president at CEO of Enteractive Media, while Debono is a partner at Boom Gaming, the Debono Group and also the co-founder of Election Assistant Inc.
Kellner has taken the role of CEO at Parsec, and Paul Habner has stayed on as director and CFO.
Speaking about the deal, Kellner said: “The completion of the acquisition means we are now ready to move forward with our vision of creating a game-changing media and gaming company that will create shareholder value through organic growth and strategic acquisitions.”
The acquisition is a change to what was previously reported in October 2022. Enteractive Media was set to become a publicly listed company after a reverse merger with Parsec.
As part of that deal the affiliate would have joined forces with Parsec with four of the board of directors coming from Enteractive and one from Parsec.
If that agreement had occurred, it would have seen the newly combined firm listed on the Nasdaq under the name Enteractive Media.