Parsec Capital Acquisitions Corp. Merge with Enteractive Media

Lewisville, TX, Oct. 18, 2022 (GLOBE NEWSWIRE) — Parsec Capital Acquisitions Corp. (NASDAQ: PCX, PCXCU, PCXCW), a special purpose acquisition corporation sponsored by Parsec Acquisitions Sponsor, LLC, announced the execution of an agreement and plan of merger with Enteractive Media Inc. of Calgary, Alberta on October 13, 2022. The transaction has been approved by the Board of Directors of both the Company and Enteractive Media and is expected to be consummated in the fourth quarter of 2022, subject to regulatory and stockholder approval by the stockholders of the Company and the stockholder of Enteractive Media and the satisfaction of certain other customary closing conditions.

Enteractive Media Inc., established in 2013, is a business that acts as the gateway between consumers and gambling operators. Enteractive Media’s wholly owned subsidiary “PlayerVision” provides consumers with gambling themed television broadcasts, on demand video, “Join in Play” synchronous live video streamed sports wagering programming (available on the web, mobile and television), which include gambling strategies, tips and advice, leaderboards, contests, and incentives where people who like to gamble can: Meet each other; Learn how to play new games and gamble; Compete with each other in free games and real money games, and Win prizes and money.

Upon the closing of the Business Combination, the combined company is expected to operate under the name Enteractive Media Inc. and remain a Nasdaq listed public company (“Nasdaq”) trading under a new ticker symbol. The board of directors of the combined company will consist of one director designed by the Company and four directors designated by Enteractive Media. There can be no assurance that the combined company will remain listed on Nasdaq.

Ms. Patricia Trompeter, Chairperson and Chief Executive Officer of Parsec, said, “We are excited to have Enteractive for this business merger and look forward to consummating this transaction. We believe that, with the value proposition Enteractive brings to this transaction, it is well-positioned for substantial growth and sustainability. We view the transaction valuation as highly attractive to investors. We believe that through our merger, coupled with the management’s background we have the potential to create significant value for shareholders.”

The description of the Business Combination contained herein is only a summary and is qualified in its entirety by reference to the Merger Agreement relating to the transaction. For additional information, see the Company’s Current Report on Form 8-K, which will be filed promptly and can be obtained at the website of the U.S. Securities and Exchange Commission (“SEC”) at www.sec.gov.

About Enteractive Media Inc.

Enteractive Media Inc., established in 2013, is a business that acts as a gateway between consumers and legal gambling operators. Enteractive .Media’s wholly owned subsidiary “PlayerVision” provides consumers with gambling themed television broadcasts, on demand video, “Join in Play” synchronous live video streamed sports wagering programming (available on the web, mobile and television), which include gambling strategies, tips and advice, leaderboards, contests, and incentives where people who like to gamble can: Meet each other; Learn how to play new games and gamble; Compete with each other in free games and real money games, and Win prizes and money. Enteractive Media’s website is http://enteractivemedia.ca.

About Parsec Capital Acquisitions Corp.

Parsec Capital Acquisitions Corp. is a blank check company formed as a Delaware corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

The Company’s units consisting of one share of Class A common stock and one redeemable warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share trades under the symbol “PCXCU”, the shares of Class A common stock trade under the symbol “PCX” and the warrants trade under the symbol “PCXCW.”