May 16 (Reuters) - Stratton Capital Corp SNKh.V
* Stratton capital corp enters into a definitive securities
purchase agreement with Pro Gaming League Inc for reverse
takeover
* Transaction is not a non-arm's length transaction, so
stratton is not required to obtain shareholder approval for
transaction
* Prior to completion of transaction tratton, co must
complete consolidation of outstanding stratton shares on a
4-for-1 basis
* Says will acquire all of securities of PGL on a 1-for-1
basis, including shares issued upon cashless exercise of PGL
warrant
* Stratton Capital Corp says offering will be comprised of
up to 40 million common shares of pro gaming league to be issued
at a price of $0.10 per share
* Upon completion of transaction, current officers and
directors of stratton will resign
* Upon closing, current officers, directors of co to be
replaced by Alex Igelman,Chad Larsson,David Fawcett,Seth
Schorr,Ronald Spoehel
* Alex Igelman will be appointed as chief executive officer,
Chad Larsson will be president
Source text for Eikon: ID:nMKWVvyx0a
Further company coverage: SNKh.V
(Bengaluru Newsroom: +1 646 223 8780)