RE: SP Looking Lively2 Nov 2023 15:20
The 1m investment = 200m new shares.
Existing 622m shares.
First 500k unconditional
Next 500k subject to commercial agreement.
Guild Esports PLC (LSE: GILD; OTCQB: GULDF), a global gaming-focused media business, is pleased to announce that it has signed a subscription letter with an international esports, content creation and media brand ("the Brand") for the Brand to subscribe for up to 200,000,000 new ordinary shares of £0.001 each in the capital of Guild ("Ordinary Shares") at a price of £0.005 per Ordinary Share, to raise up to £1,000,000 before expenses.
The Brand subscribed for the Ordinary Shares in three tranches, payable entirely in cash. The first two tranches are unconditional, with the first tranche of £250,000 already subscribed for and the second tranche of £250,000 due and payable on 30 October 2023. The third tranche of the subscription is for £500,000 and is conditional on the negotiation and entry into a wider commercial agreement between the Brand and Guild.
Guild expect that the synergies between the Company and the Brand will enhance operational efficiencies and amplify value creation for stakeholders. The shared vision and complementary capabilities of both companies position them well to unlock growth, innovation, and market penetration. The Board anticipates that both companies will explore avenues for how collaboration can benefit each other's businesses, partners, audience footprint and generate future value. The investment and proposed partnership are a continuation of Guild's long-term strategy to establish itself as a leader within the esports, media and gaming sector. The Company will make a further announcement on the commercial agreement in due course.
GL.
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