Chad Larson, Team Reciprocity founder and president, released a short video announcing the team’s changes.
He announced how the company was surviving in it’s ‘bare bones’ state all this time. This was due to the current market conditions stifling the finances of the company. He released news of all staff releases, along with a heartfelt apology for the unfortunate news.
The video started so the president could address the fans and the community. He wanted to give context to the drastic changes the company was going through. A Reverse Take-Over listed for the TSXV. This is due to the suffering of the company in financial and administrative means. The team will continue to raise funds and still work towards the RTO for the TSV, as the company dismantles in a matter of weeks.
All staff are released, and the company is stripped down to its original Crossfire franchise and co-ownership with Rainbow Seven.
This unfortunate news hits hard for all fans and the community involved in the downscaling and the restructuring. Members saddened as well due to the bleak future of the company with its breakup.
Chad showed sadness due to the measures taken for the company’s future survival. Fans and ex-members were regretful of the circumstances as well.
Chad Larson’s words:
“I want to apologise to fans, the players, community, staff and industry partners and anybody who has helped myself and my team and Team Reciprocity reach its most successful days. And I also wish my team and everybody who has been a part of Team Reciprocity best of luck, they definitely deserve to find new homes.
As for my future with Team Reciprocity, I will be taking it one step at a time, and restructure the company further. I thank everyone for their support.”
For more on Reciprocity, visit their Official Website.