Relativity Acquisition Corp signs letter of intent to merge with Mazaii Corp Ltd. in a $500 million deal.

LAS VEGAS AND NEW YORK, July 11, 2024 /PRNewswire/ — Relativity Acquisition Corp., a special purpose acquisition company (“Relativity”), today announced that it has signed a letter of intent (“LOI”) providing for a proposed business combination (the “Transaction”), pursuant to which Relativity will acquire 100% of the equity and equity equivalents of Mazaii Corp Ltd. (“Mazaii” or the “Company”). The Transaction values ​​the Company at an initial enterprise value of $500 million.

Mazaii is Montreal– an innovator in the iGaming industry, specializing in the creation and distribution of cutting-edge online games casino games and betting solutions. The company delivers advanced gaming content and technology to leading brands in the sector, enhancing their platforms and player experiences. Through strategic acquisitions, Mazaii Corp expands its market reach and strengthens its product offering in key regions, including Europe, North America, Latin AmericaAND Asia.

Tarek TabszCEO and Chairman of Relativity Acquisition Corp., said: “The iGaming industry is experiencing rapid growth, with increasing acceptance and legalization across regions. Growing consumer demand, driven by increasing smartphone penetration and internet access, is further driving this expansion. Mazaii’s international platform provides significant opportunity for scalability and revenue growth. This transaction will strengthen Mazaii’s competitive advantage and market position.”

Eli BaazovMazaii CEO stated: “We are excited to share Mazaii’s transformational journey that has revolutionized the online marketplace gambling arena. We have strengthened our position, expanded our market reach and enhanced our innovative service offering. With our internal intellectual property and continued organic growth, we are confident in our ability to disrupt the gaming landscape and deliver highly beneficial outcomes for our shareholders beyond 2024. This is just the beginning of our journey and we are excited to shape the future of gaming.”

The completion of the transaction is subject to several factors, including the completion of due diligence, negotiations of a definitive agreement, satisfaction of the conditions thereto, applicable regulatory approvals and approval of the transaction by the boards and shareholders of both companies. Once a definitive agreement is reached, the parties will disclose additional details regarding the proposed transaction. The transaction is expected to close in the second half of this year, barring any unforeseen circumstances.

About Relativity Acquisition Corp.

Relativity Acquisition Corp. is a blank check company sponsored by Relativity Acquisition Sponsor LLC, Delaware a limited liability company formed for the purpose of effecting a merger, capital exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

About Maaii Corp Ltd.

Mazaii Corp Ltd. is a company Montreal– an innovator in the iGaming industry, specializing in the creation and distribution of cutting-edge online games casino games and betting solutions. The company delivers advanced gaming content and technology to leading brands in the sector, enhancing their platforms and player experiences. Through strategic acquisitions, Mazaii Corp expands its market reach and strengthens its product offering in key regions, including Europe, North America, Latin AmericaAND Asia.

Forward-looking statements

This press release may contain, and oral statements made from time to time by representatives of the Company may contain, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and their financing and related matters, and all other statements other than statements of historical fact contained in this press release, are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “may,” “estimate,” “expect,” “intend,” “may,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “could” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on management’s beliefs, as well as assumptions made by the Company’s management and information currently available to it. Actual results could differ materially from those projected in the forward-looking statements as a result of certain factors more fully described in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this section. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering and the Company’s annual or quarterly reports or proxy statement filed with the SEC. The Company undertakes no obligation to update these statements for changes or revisions after the date of this release, except as required by law.

Website: www.relativityacquisitions.com

Website: https://mazaiicorp.com/

SOURCE: Relativity Acquisition Corp.