---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-012910"
form_type: "8-K"
ticker: null
cik: "0001708410"
company_name: "SIMPLICITY ESPORTS & GAMING Co"
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-16T23:44:58.183602+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Simplicity Esports issues two $16,500 convertible notes to Ionic Ventures and FirstFire Global Opportunities

## Summary
- Each note has $16,500 principal, $1,500 OID, net proceeds $15,000, 12% interest, matures July 8, 2023.
- Conversion price $0.0175 per share; beneficial ownership limit 4.99% (waivable to 9.99% on 61 days' notice).
- Proceeds for working capital; prepayment allowed with $660 interest guaranteed.
- Both SPAs contain inadvertent warrant references; company will amend to remove them.

## SEC filing metadata
- accession: 0001493152-23-012910
- form_type: 8-K
- cik: 0001708410
- company_name: SIMPLICITY ESPORTS & GAMING Co
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-012910
- JSON: https://secwatch.observer/filing/0001493152-23-012910.json
- Plain text: https://secwatch.observer/filing/0001493152-23-012910.txt

## Key facts
- Debt Financings
  SIMPLICITY ESPORTS & GAMING Co incurred convertible notes of $16,500 with FirstFire Global Opportunities Fund LLC at 12% per annum maturing July 8, 2023.
  - Instrument: convertible notes
  - Principal: $16,500
  - Counterparty: FirstFire Global Opportunities Fund LLC
  - Rate: 12% per annum
  - Maturity: July 8, 2023
  - Event: incurrence
  source text: the Company issued a 12% convertible promissory note to FirstFire (the "March 2023 FirstFire Note") with a maturity date of July 8, 2023, in the principal sum of $16,500
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm
- Debt Financings
  SIMPLICITY ESPORTS & GAMING Co incurred convertible notes of $16,500 with Ionic Ventures, LLC at 12% per annum maturing July 8, 2023.
  - Instrument: convertible notes
  - Principal: $16,500
  - Counterparty: Ionic Ventures, LLC
  - Rate: 12% per annum
  - Maturity: July 8, 2023
  - Event: incurrence
  source text: the Company issued a 12% convertible promissory note to Ionic (the "March 2023 Ionic Note") with a maturity date of July 8, 2023, in the principal sum of $16,500
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm
- Material Agreements
  SIMPLICITY ESPORTS & GAMING Co entered into March 2023 Ionic SPA with Ionic Ventures, LLC (effective 2023-03-08).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Ionic Ventures, LLC
  - Effective: 2023-03-08
  source text: On March 8, 2023, Simplicity Esports and Gaming Company (the “Company”) entered into a securities purchase agreement (the “March 2023 Ionic SPA”), dated as of March 8, 2023, with Ionic Ventures, LLC (“Ionic”), pursuant to which the Company issued a 12% convertible promissory note to Ionic (the “March 2023 Ionic Note”) with a maturity date of July 8, 2023, in the principal sum of $16,500.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm
- Material Agreements
  SIMPLICITY ESPORTS & GAMING Co entered into March 2023 FirstFire SPA with FirstFire Global Opportunities Fund LLC (effective 2023-03-08).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: FirstFire Global Opportunities Fund LLC
  - Effective: 2023-03-08
  source text: On March 8, 2023, the Company entered into a securities purchase agreement (the “March 2023 FirstFire SPA”), dated as of March 8, 2023, with FirstFire Global Opportunities Fund LLC (“FirstFire”), pursuant to which the Company issued a 12% convertible promissory note to FirstFire (the “March 2023 FirstFire Note”) with a maturity date of July 8, 2023, in the principal sum of $16,500.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.