It will acquire a further 11.75% stake within thirty days
FastForward Innovations buys 41.15% stake in Leap Gaming
FastForward Innovations has bought an initial 29% stake in Frails LLC, a Nevis-incorporated company which provides virtual sports and casino technology under the Leap Gaming brand.
2016-04-12
Reading time 34 seg
FastForward Innovations has bought an initial 29% stake in Frails LLC, a Nevis-incorporated company which provides virtual sports and casino technology under the Leap Gaming brand.
FastForward has agreed to acquire a further 11.75% stake within thirty days, which will take its total stake in Leap Gaming to 41.15%, for a total of USD3.5 million.
The company subscribed for an initial 693 preferred units in Leap for USD2.5 million in cash, equal to a 29.4% interest. It will acquire a further 277 units for USD1.0 million, to be satisfied in USD750,000 in cash, and the issue of new shares equal to USD250,000.
"The LeapGaming investment is another example of an investment aligned with our core philosophy. We invest in visionary entrepreneurs like the team at Leap who are developing innovative technologies to solve problems in their industries," said Chief Executive Officer Lorne Abony.
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