Proactive Investors - Guild Esports PLC (LON:GILDG) has announced a deal to issue new shares to a strategic investor in return for a £1 million investment.
Some 200,000,000 new ordinary shares will be issued at £0.005 each to the international esports, content creation and media brand, in return for the funds, which will be put toward’s Guild’s international expansion.
“There is immense international appetite for esports, particularly in the Middle East and North Africa region which is rapidly emerging as an esports hub,” chief executive Jasmine Skee commented.
“The investment is crucial to furthering our vision of becoming the leading international esports and gaming-focused media brand and Guild looks forward to deepening ties with a complementary business.”
Under the agreement, Guild’s partner has already subscribed for £250,000 worth of the shares with the second tranche expected on Monday.
The remaining £500,000 will be subject to negotiations and the subsequent agreement of a commercial agreement between Guild and the other firm.
Shares will be newly issued meanwhile, with gaming-focussed media firm Guild adding it would apply to the Financial Conduct Authority (FCA) to list new stock.
“This deal is an exciting development for Guild,” advisor to Guild’s board, Stephen Duval, commented.
“We believe the investment and partnership will work seamlessly within Guild's strategy to solidify itself as a globally robust leader in the esports and gaming ecosystem.”
Guild added it wanted to establish an immediate foothold in the Middle East and North Africa region, where there will be an estimated 87.9 million gamers by 2026.