LONDON, UK: Semper Fortis Esports has announced that it will acquire Good Life+, a monthly membership and daily prize draw business, for £10 million in shares. The deal will be completed by issuing 500 million new ordinary shares to the shareholders of Good Life+ at 2 pence per share.

Semper Fortis Esports had previously subscribed for £250,000 of convertible loan notes issued by Good Life+, which will be converted into shares as part of the acquisition. The company will also buy some assets from Chadd Media Limited, a company owned by the founders of Good Life+.

To fund the growth of the enlarged group, Semper Fortis Esports has raised £1.4 million from existing and new investors, including the family office of Mark Blandford, the founder of Sportingbet plc. The company will also consolidate its existing shares by merging every 10 shares into one new share.

The acquisition is subject to the approval of the shareholders of Semper Fortis Esports, who will vote on the deal at a general meeting on 15 December 2023. The company will also change its name to Good Life Plus Plc and its stock ticker symbol to GDLF to reflect the new business.

Good Life+ was founded in September 2021 and offers its members access to daily prize draws and discounts at various venues and services. The company has over 21,000 active members and generates around £210,000 in monthly recurring revenue. The company aims to become a leading player in the luxury prize draw industry and to create a more modern and interactive model for its customers.

Keith Harris, Chairman of Semper Fortis Esports, said: “With its mission to reinvent the winning experience by offering everyone a shot at the “good life” and to revolutionise the prize draw sector by providing a more exciting, transparent and current offering with improved odds of winning facilitated through a monthly membership that also has member benefits, GL+ has seen significant growth over the last 12 months and currently has over 21,000 active members, generating around £210,000 in monthly recurring revenue.

“We believe GL+ is a hugely dynamic business, led by an extremely ambitous  management team, which is capable of significant growth, and that the Acquisition presents the Company and its Shareholders with an exciting opportunity to invest in a new and disruptive daily prize draw business with significant upside potential.”

On completion of the acquisition, Charlie Chadd will become Chief Executive, Joseph Chadd will become an Executive Director and both John Taylor and John Gordon will join the Board as Non-Executive Directors. On Admission Max Deeley, the current Finance Director, will step down from the Board.

Semper Fortis Esports expands into play-to-earn with new division