Edmonton, Alberta-based Command Performance Network is to acquire 45% of Simulcast Racing Network Inc, a Las Vegas-based company that plans to launch live interactive television racing to the home. Users will be able to bet either by phone or with an interactive device attached to the set. In addition, Command Performance will own 80% of Simulcast Racing Network Canada Inc, a company being formed to own the rights to Simulcast skills and products for use in Canada. Under the agreement, Command Performance will invest $2.3m and issue 150,000 shares of Command Performance, worth around $326,000. Command Performance also has an option to invest an additional $3.0m for one year which, if exercised, would increase its equity interests to 60%.
