Blue Star Capital plc Leaf Mobile Update (5368O)
February 10 2021 - 1:00AM
UK Regulatory
TIDMBLU
RNS Number : 5368O
Blue Star Capital plc
10 February 2021
10 February 2021
Blue Star Capital plc
("Blue Star" or the "Company")
Leaf Mobile Update
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on esports, payments, technology and its applications within
media and gaming, is pleased to provide the following update
regarding its investee company Leaf Mobile Inc. ("Leaf").
Leaf (TSX.V: LEAF), a company in which Blue Star holds an
investment, has reported that it has completed its acquisition of
100% of East Side Games Inc. ("ESG") for approximately C$159
million. The consideration consisted of $19 million in cash and
444,444,444 common shares in Leaf at a price of C$0.225 per share.
The remainder of the consideration is contingent upon Leaf
achieving certain milestones.
Further, Leaf recently completed a public offering for shares
raising gross proceeds of C$23 million. Following which, Leaf
received approval to list Leaf Shares for trading on the Toronto
Stock Exchange (TSX). As a result, the Leaf Shares will be delisted
from the TSX Venture Exchange (TSXV). Trading of the Leaf Shares on
the TSXV will remain suspended until its delisting. Trading of the
Leaf Shares under the symbol "LEAF" will commence on the TSX at the
open of markets on 10 February 2021.
Blue Star's investment in Leaf was made in April 2020 purchasing
625,000 at a price of C$0.16 per share. The share price for Leaf is
currently trading at approximately C$0.225 per share valuing Blue
Star's holding in Leaf at approximately C$140,625. Following Leaf's
admission of shares to trading on the TSX, Blue Star's holding will
represent approximately 0.08% of Leaf's issued share capital.
Derek Lew, CEO of Blue Star, commented : "We would like to
congratulate Leaf on the completion of its acquisition of East Side
Games Inc. and their subsequent approval to move to the TSX.
Following the acquisition, Leaf will be one of the leading,
publicly traded mobile game companies in Canada, its progress
highlights Blue Star's ability to identify promising investments
with potential for growth. It is an exciting time for Leaf, and a
significant step forward in its strategic development. We look
forward to supporting them on their journey."
About East Side Games
East Side Games is a private British Columbia company based in
Vancouver, British Columbia. It is a leading publisher and
developer of mobile games. Founded in 2011 by game industry
veterans, it has created chart topping hits for top Hollywood
brands as well as Canadian superstars, The Trailer Park Boys. In
2020, East Side Games was recognized with numerous awards such as
one of the "Top 50 Mobile Game Makers 2020" by pocketgamer.biz, as
one of Canada's top small and medium employers, as well as one of
Canada's fastest growing companies.
About Leaf
Leaf Mobile Inc. (TSX.V: LEAF) is a leading creator of
counterculture mobile games. Headquartered in Vancouver, with a
premier development studio, LDRLY, based in Nanaimo, British
Columbia, the Company is highly skilled in intellectual property,
mobile game development, marketing and publishing. Leaf's culture
is anchored in creativity, data insights and execution, delivering
highly engaging games that produce enduring player enjoyment. With
over a decade of experience in game development and marketing, Leaf
has consistently delivered high-grossing original and licensed IP
titles that include Cheech & Chong Bud Farm, Bud Farm Idle
Tycoon, Bud Farm Grass Roots and Bud Farm 420. Our game titles are
available worldwide on the App Store and Google Play. Leaf
leverages successes in platform, IP, marketing, development and
data analysis to maximize value for our global network of
constituents, from players to talent to shareholders and
beyond.
For further information please contact:
Blue Star Capital plc +44 (0) 20 3286 8707
Derek Lew
Cairn Financial Advisers LLP +44 (0) 20 7213 0880
(Nominated Adviser)
Jo Turner / Liam Murray / Mark Rogers
S tanford Capital Partners Limited
(Broker)
Patrick Claridge / John Howes / Bob
Pountney +44 (0) 20 3815 8880
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