Relativity Acquisition Corp Signs Letter of Intent for $500Million Merger with Mazaii Corp Ltd.

LAS VEGAS and NEW YORK, July 11, 2024 /PRNewswire/ -- Relativity Acquisition Corp., a special purpose acquisition company ("Relativity"), today announced that it has entered a letter of intent ("LOI") providing for a proposed business combination (the "Transaction") that will result in Relativity acquiring 100% of the outstanding equity and equity equivalents of Mazaii Corp Ltd. ("Mazaii" or the "Company"). The Transaction values the Company at an initial enterprise value of U.S. $500 million.

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

Tarek Tabsh, Chief Executive Officer and Chairman of Relativity Acquisition Corp., expressed, "The iGaming industry is experiencing rapid growth, with increasing acceptance and legalization in various regions. Growing consumer demand, driven by the increasing penetration of smartphones and internet access, further fuels this expansion. The Mazaii international platform provides a significant opportunity for scalability and revenue growth. This transaction will enhance Mazaii's competitive advantage and market positioning."

Eli Baazov, Mazaii's Chief Executive Officer, stated, "We are thrilled to share the transformative journey of Mazaii in revolutionizing the online gambling arena. We have fortified our position, expanded our market reach, and enhanced our innovative service offerings. With our in-house intellectual property and continuous organic growth, we are confident in our ability to disrupt the gaming landscape and achieve highly favorable results for our shareholders beyond 2024. This is just the beginning of our journey, and we are excited to shape the gaming industry's future."  

The completion of the transaction is contingent upon several factors, including the completion of due diligence, the negotiation of a definitive agreement, the satisfaction of the conditions negotiated therein, applicable regulatory approvals, and approval of the transaction by the board and stockholders of both companies. Upon reaching a definitive agreement, the parties shall disclose additional details regarding the proposed transaction. Subject to the absence of unforeseen circumstances, the transaction is anticipated to be finalized in the second half of this year.

About Relativity Acquisition Corp.

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

About Maaii Corp Ltd.

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

Forward-Looking Statements

This press release may include, and oral statements made from time to time by representatives of the Company may include "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 the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed 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 paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, 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 revisions or changes after the date of this release, except as required by law.

Website: www.relativityacquisitions.com

Website: https://mazaiicorp.com/

SOURCE Relativity Acquisition Corp.