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Animoca Brands Corporation in trading halt ahead of subsidiary's capital raising news

The company’s securities are in a trading halt until the start of trading on Tuesday, May 14, or when an announcement is made to the market.
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Animoca is a global developer and publisher of mobile games

Animoca Brands Corporation Ltd (ASX:AB1) has been granted a trading halt by the ASX pending capital raising news by one of the company’s subsidiaries.

The trading halt will remain in place until the start of trading on Tuesday, May 14, 2019, or when an announcement is made regarding the capital raising, whichever occurs first.

Shares last traded at 15 cents a share.

READ: Animoca Brands to acquire tech industry networking and event platform

Earlier this week the company entered into a share purchase agreement to acquire networking and event-matching platform, co-founded by high-profile tech entrepreneur Loic Le Meur.

The platform will be utilised to provide mentoring and investment opportunities for companies on Zeroth, Animoca’s artificial intelligence, machine-learning and blockchain-focused start-up accelerator.

Le Meur will join the company as a venture partner to assist in growth and expansion opportunities, particularly in Silicon Valley.

READ: Animoca Brands partners with venture accelerator Brinc for gaming and esports opportunities

The company also entered into a series of agreements for collaboration and investment with global venture accelerator Brinc Limited.

The company will invest about $1.06 million of its stock into Brinc via a mutual investment and is also leading the pre-seed investment round into Brinc’s subsidiary Brinc AOA Ltd with a commitment to purchase about $1.06 million of Brinc AOA convertible notes.

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Animoca Brands Corporation Ltd Timeline

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