Live Company Group PLC (LON:LVCG) has established new loan agreements with existing investors to boost its build programme for 2020.
A revived offering will include up to 14 new BRICKLIVE themed tours, including the global rollout of the Nickelodeon-themed BRICKLIVE tours, excluding the US and Puerto Rico, the BRICKLIVE Zoo and BRICKLIVE touring programmes.
READ: Live Company expands partnership with Nickelodeon
The new loan allows Live Company to place orders before the end of the year with specialist steel and brick suppliers, which have a lead time of between two and four months, to allow for launch dates in the first two quarters of 2020.
Live Company added it is in discussions with other intellectual property partners to create new themed touring shows.
“I anticipate 2020 will be a strong year for the group,” said chairman David Ciclitira in a release.
“The real growth story of the company will be realised in 2020 and 2021, when we begin the international rollout of our Nickelodeon themed BRICKLIVE tours in Q1 2020, develop new tours for the BRICKLIVE Zoo and BRICKLIVE touring divisions, and secure contracts with international partners, including new IP partners.”
The live events and entertainment group agreed to extend the maturity date of an existing loan by a year from December 2019 to December 2020 with hedge funds YA II PN and RiverFort Global Opportunities where £700,000 is outstanding.
A new loan facility was agreed with the pair for up to £1mln, of which £300,000 has so far been withdrawn, as well as a new subscription agreement for a £2mln equity investment for 6mln new ordinary shares at the price of 30p each, representing a 7% premium of Friday’s closing price.