AB1 to invest US$750K into Brinc

Animoca Brands Corporation Limited and Brinc have entered into a mutual investment where each company will exchange shares of its stock worth US$750,000 for the equivalent value in the other’s stock.

Brinc is a world-leading venture accelerator and distribution company which operates seven comprehensive acceleration programs in Hong Kong, the Middle East, Europe, and India. Brinc has made 60 investments in 24 countries.

Brinc and Animoca Brands have signed a Collaboration Memorandum of Understanding whereby both parties will collaborate to grow joint acceelorator program focused on investing in gaming and esports startups.

The global esports market is estimated to be worth US$1.1 billion. The Company recently appointed Michael Ephraim, former Managing Director of Sony Playstation, as head of partnerships for his industry expertise and contacts.

Animoca Brands has also entered into a binding Convertible Note with Brinc, it’s subsidiary Brinc AOA (a startup) and Artesian Venture Partners which is Australia’s largest early-stage venture capital firm.

The Company understands Brinc’s ability to potentially offer successful opportunities for business development across a wider market. Startups in China reached a total of 186 in 2018. Animoca Brands sees the potential and is utilising it.

Animoca Brands co-founder and chairman Yat Siu, acknowledged the benefits of the Company’s partnership with Brinc “Brinc’s presence and network significantly increase our pathways into Europe, the Middle East, and China.”

Please find the announcement attached.