- Esports Mogul (ESH) has successfully raised nearly $4 million to support its branded hub technology
- The company issued 397 million shares to sophisticated, professional and institutional investors for 1¢ per share
- Funds raised will be used to fast track monetisation of the Mogul platform through 2020
- Mogul is down 9.09 per cent today, trading at 1¢ per share
Esports Mogul (ESH) has successfully raised nearly $4 million to support its branded hub technology.
The company issued 397 million shares to sophisticated, professional and institutional investors for 1¢ per share, raising $3.97 million.
The funds will be used to support the rollout of Mogul’s Branded Hubs Technology, revenue-generating activities, further international partner expansion and continued innovation of Mogul’s world-class tournament platform.
Mogul’s Managing Director Gernot Abl said the company is excited to have received such significant support for this placement capacity.
“Our achievements as a company over the past few months including signing some of the largest names in esports, enhancing our product offering, and securing Cameron Adams as a director of the company have been well recognised by the market,” he said.
“We now look forward to next year as we seek to capitalise on our world-class technology platform, further developing our monetisation strategies, and continuing to secure partnerships with industry-leading esports brands and organisations,” he added.
Mogul is an esports media and software business. It owns and operates the world’s most advanced pure-play online esports tournament and matchmaking platform.
Managing Director of the Lead Manager, CPS Capital Jason Peterson is pleased to have supported Mogul in the placement.
“We’ve seen the significant progress the Mogul team have made since commercial launch of the Mogul Branded Hubs model in August 2019, and are excited to be part of their future,” Jason said.
Mogul is down 9.09 per cent today, trading at 1¢ per share at 1:52 pm AEDT.