GOAT Industries Ltd. (CSE: GOAT) said its indirect wholly owned subsidiary, Source Gaming Company, operating as BetSource, has entered into a definitive contract revenue assignment agreement dated October 20, 2026, with Epoxy AI, LLC. Under the agreement, Source Gaming will acquire customer contract revenues from Epoxy in exchange for 11,377,600 common shares of GOAT, issued at a price of C$0.25 per share.
The rights being acquired cover revenues, receivables and other amounts payable under six customer contracts Epoxy holds with U.S. tribal casinos and other established casino and sports book operators. Rather than transferring the underlying contracts immediately, the agreement structures the deal as an assignment of the revenue stream from those contracts to Source Gaming.
Epoxy is to formally assign the underlying customer contracts to Source Gaming within six months of closing, subject to the consent of the customers involved. Until that assignment takes place, the release said Epoxy will continue to perform its obligations under the contracts and will hold the resulting revenue in trust for Source Gaming.
Completion of the transaction is subject to the satisfaction or waiver of certain conditions, including the release of applicable security interests, other necessary approvals, and acceptance by the Canadian Securities Exchange. Either party may terminate the agreement if the transaction has not closed by November 30, 2026. Separately, the release said a US$100,000 non-interest-bearing promissory note dated January 2026 remains outstanding between the companies and will survive completion of the transaction.
"This Agreement marks an important step forward in delivering on the strategy we outlined to shareholders," Hank Frecon, acting chief executive of Source Gaming Company, said in the release. The release described the transaction as advancing an acquisition strategy GOAT had previously outlined to shareholders in August 2026.